The temperature-controlled pharmaceutical packaging solutions market will make AU$3.74b in revenue by the end of 2016.
This number will increase at 9.3 per cent CAGR through 2026, according to a new report by market research firm Future Market Insights (FMI).
Reusable packaging and technology advancements that enable access to real-time temperature data are the two key trends expected to shape the market in the future.
There is a need to prevent temperature excursion and deliver drugs in a timely manner without any degradation in quality.
Key temperature controlled packaging solutions include insulated shippers, insulated protective shippers, and insulated containers.
Insulated containers are expected to see high demand in the Asia Pacific, excluding Japan (APEJ), whereas insulated shippers are anticipated to gain traction in North America during the forecast period.
The markets of North America, Western Europe, and the Asia Pacific are expected to expand at a higher than average CAGR due to increased use of temperature-controlled packaging solutions for pharmaceuticals in biologics and in treatment of rare diseases in the region.
Forging ahead in Australia within the temperature-controlled packaging solutions segment is Upac Corporate, which distributes Coldpack airliners.
This insulating packaging solution uses environmentally sound and supportive materials.
The system helps alleviate risk of temperature peaks and damage to temperature-sensitive product.
Inbox Solutions is another Australian company specialising in thermally insulated packaging systems for temperature-controlled shipping requirements.
