Healthcare cold chain monitoring market is expected to reach USD 5,345.6 Million registering a CAGR of 12.2%.
Cold chain monitoring is the use of Internet of Things (IoT) technology to continually monitor temperature-sensitive products being transported in a cold chain-a supply chain containing perishable and/or temperature-sensitive products such as pharmaceuticals, biologics, and food and drinks. If not adequately monitored, suboptimal conditions during shipment and storage may compromise the quality of these products.
Due to several major factors such as the increased use of IoT technology in the healthcare sector and the growing variety of drugs that require monitoring from the entry-level of packaging to delivery in a controlled room temperature, the global healthcare cold chain monitoring market has grown in popularity and market size. COVID-19 vaccines are carried out safely thanks to Internet of Things (IoT) monitoring. Hospitals, healthcare service providers, and logistics can't do without refrigerated systems when it comes to storing or shipping vaccines or other biological materials that can become inert outside of a manufacturer's allowed temperature or humidity range. The importance of cold chain monitoring systems in the healthcare business is highlighted by this. The capacity to monitor these facilities and take corrective action in the case of a breakdown is critical to maintaining the patients' safety.
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Market Segmentation
Based on the component, the healthcare cold chain monitoring market has been segmented into hardware and software. The segment of hardware is further divided into sensors, data loggers, real-time monitoring devices, RFID devices, resistance temperature detectors, and others. The segment of software is further divided into cloud based and on-premises.
Based on the temperature type, the healthcare cold chain monitoring market has been segmented into chilled and frozen.
Based on the product, the healthcare cold chain monitoring market has been segmented into vaccines, biopharmaceuticals, clinical trial materials, and others.
Based on the end-user, the healthcare cold chain monitoring market has been segmented into biopharmaceutical companies, hospitals & clinics, research institutes, and others.
Based on the Region, the healthcare cold chain monitoring market has been segmented into Asia-Pacific, North America, Europe, and the Rest of the World.
