TCPS market is anticipated to grow at a CAGR of around 11.2% during the forecast period. The TCPS market is majorly driven by the increased demand for pharmaceuticals drugs due to the COVID-19 pandemic. TCPS plays an important role in the transportation of pharmaceutical drugs, as these drugs are more susceptible to heat, humidity, and other external environmental condition, and are required to be stored at a lower temperature during shipment. Both active and passive TCPS are used for the shipment of drugs. The demand for TCPS was highly increased during the pandemic for the distribution of COVID-19 vaccines across the globe. Various TCPS companies were shipping vaccines across the globe during the pandemic period, which has accelerated the market growth. For an instance, 138.3 million COVID-19 doses have been shipped through COVAX, a shipment company, to 136 countries. The market is also driven due to the increased number of partnership collaborations among pharmaceutical and TCPS procedures for the shipment of vaccines and other products globally during the pandemic. For instance, during the pandemic, Pfizer collaborated with Softbox Systems Ltd to develop reusable Ultra-Low Temperature (ULT) shippers to store the COVID-19 vaccine for a long time.
Moreover, the increasing demand for perishable goods and frozen foods in emerging economies across the globe due to increased population and busy lifestyle that has created the demand for ready-to-eat foods, are also the major factors creating the demand for TCPSs from the food & beverages industry to maintain the freshness of the products during transportation. Stringent government regulations associated with the usage of specific types of pharmaceutical products for the production of temperature-controlled packaging solutions are the major factor expected to limit the growth of the TCPS market during the forecast period.
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TCPS Market Segmentation
By Type
- Active
- Passive
By Product
- Insulated Containers
- Insulated Shippers
By End-User
- Food & Beverage
- Healthcare
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- ACH Foam Technologies, LLC
- AmerisourceBergen Corp.
- APEX Packaging Corp.
- Cold Chain Technologies, Inc.
- Cryopak Industries Inc.
- Deutsche Post AG (DHL)
- DGP Intelsius GMBH
- DHL International GmbH
- Envirotainer AB
- GEBHARDT Logistic Solutions GmbH
- Inmark Temperature Controlled Packaging
- Pelican BioThermal LLC
- Sofrigram SA Ltd.
- Softbox Systems Ltd.
- Sonoco Products Co.
- Snyder Industries Inc.
- Tempack and Cropak.
- Testo SE & Co.
- United Parcel Service, Inc.
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