#3: Cool-chain tech advances support burgeoning pharma demand
Industry participants are making necessary strides forward in cool-chain technology to keep pace with the fast-growing market demand for pharmaceuticals. The new innovations in cool chain-tech developed in 2018 will likely be put to use in the new year as operators increase their investments in storage, certification and cooperation.
By 2020, IATA predicts biopharma cold-chain logistics spending will increase by 8 to 9 percent, and that biopharma sales will increase by 4 to 5 percent. Europe and North America maintain the top biopharma market share at 60 percent, although cold-chain logistics spending is expected to grow fastest in Asia and North America. Rising demand is expected in the coming year from Asia, due to the region’s expanding middle class in developing countries and aging population in developed countries.30 - Readers Like This Post