Europe Reefer Container for Pharmaceutical Market

The reefer container for pharmaceutical market in Europe is expected to grow from US$ 723.77 million in 2022 to US$ 1,563.68 million by 2028. It is estimated to grow at a CAGR of 13.7% from 2022 to 2028.

Rising Preference for Maritime Trade over Airborne Trade

The demand for pharmaceutical products was increasing across the region at faster rate, owing to increasing number of geriatric populations, growing spending in pharmaceutical products, changing lifestyle leading to obesity, diabetes, and other costly health conditions, and increasing investment in R&D capabilities. Also, the emergence of the COVID-19 pandemic has fuelled the demand for more pharmaceutical products which is emerges the need for transportation activities for reaching the consumer accelerating the demand for reefer container which helps drive the market growth over the forecast period. The increased R&D in the pharmaceutical companies has consequently increased the number of vaccines and other drugs synthesized which needs to be stored at appropriate temperatures to maintain viability. The pharmaceutical products require specific storage and transportation conditions for successful reach to consumer which is emerging the need for reefer containers fuelling the market growth. Most pharmaceutical products are temperature-sensitive, therefore are required to be stored and transported under a controlled environment, in order to maintain their efficacy and safety. As per the IQVIA Institute for Human Data Science, in July 2019, the biopharma industry loses approximately US$35 billion per year owing to failures in temperature-controlled logistics. Such incidents have created a need for proper temperature-controlled transportation methods, such as reefer containers, in order to prevent shipment losses. With the improvement in reefer containers’ technology and a decrease in the cost of shipping, several pharmaceutical players have started trading overseas to gain higher revenue which is further aiding the market growth over the projected timeframe. The aging population, the virus outbreaks across the region and the sharp rise in pharmaceutical manufacturing, in particular is expected to accelerate in many developing markets and drive demand for pharmaceutical products. Thus, increasing demand from such end-users is propelling the need for the pharmaceutical products which is further strengthening the reefer containers for transportation and logistics which helps drive the market growth over the forecast period.

Market Overview

Germany, France, the UK, and Italy are among the major economies in Europe. Most medicines are temperature sensitive, so they must be stored and transported in a controlled environment to ensure their effectiveness and safety. An increasing number of accidents and incidents have created a need for proper temperature-controlled transportation methods, such as reefer containers, to reduce shipping losses. With the development of refrigerated container technology and decreasing shipping costs, several pharmaceutical companies have started trading overseas for increased revenue. The Europe maritime shipment sector is seeing a demand for shipment transportation through waterways. Cargo ships are much less high-priced than avenue and air transits for transporting commodities. Ships can transport more items from one place to another in a shorter quantity of time. According to IIR With over 80% of world business trade dealt with via sea, maritime shipping is the backbone of worldwide change and Europeization. The European Commission conducts an ongoing communication with all the EU's transport and buying and selling companions across the region, consisting of the US, China, India, Japan, and Russia, to reinforce the worldwide seaborne change system's stability. Bilateral agreements and talks are vital gear for resolving issues, eliminating obstacles to worldwide marine change, and promoting great shipping ideals throughout the world.

Europe Reefer Container for Pharmaceutical Market  Revenue and Forecast to 2028 (US$ Million)

Europe Reefer Container for Pharmaceutical Strategic Insights

Strategic insights for the Europe Reefer Container for Pharmaceutical provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Reefer Container for Pharmaceutical Report Scope

Europe Reefer Container for Pharmaceutical Regional Insights

The geographic scope of the Europe Reefer Container for Pharmaceutical refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Reefer Container for Pharmaceutical Market Segmentation

The Europe reefer container for pharmaceutical market is segmented into application type, container size, and country.  

Based on application, the market is segmented into pharmaceutical preparations, injectables blood  derivatives, vaccine & serum, and others. The pharmaceutical preparations segment held the largest market share in 2022.

Based on container size, the market is segmented into small, medium, and large. The small segment held the largest market share in 2022.

Based on country, the market is segmented into Germany, France, Italy, the U.K, Russia, and the Rest of Europe. Germany dominated the market share in 2022. 

BSL REFRIGERATED CONTAINERS; CMA CGM Group; Klinge Corporation; DAIKIN INDUSTRIES, Ltd.; Maersk Container Industry AS; Evergreen Marine Corp. (Taiwan) Ltd.; Seaco; and COSCO Shipping are the leading companies operating in the reefer container for pharmaceutical market in the region.