Building Better Healthcare: Temperature-Controlled Packaging Solutions

It’s not what happens to you, but how you react to it that matters  ~Epictetus

Early this year, the news about the novel virus broke out. Little did we know that COVID-19 is going to engulf the globe and change the way we live. People known for being social creatures were forced to adapt to the “new normal” of social distancing and virtual interactions. The situation remains very fluid and is constantly changing every day. The world has come together to fight this common enemy. The saying, “health is wealth” is more important than ever.

During times like these, the importance of the cold chain within healthcare systems increase. The temperature integrity during transportation of life science products remains a critical component in the global healthcare supply chain. Reliability and traceability of temperature controlled packaging solutions become factors influencing the speed, quality, and cost of healthcare being delivered.

What Are Temperature Control Packaging Solutions?

Temperature-controlled packaging (TCP) is a system where the payload being shipped is kept within a defined range of temperatures to maintain the integrity of the payload. Ambient temperatures can vary depending on the geography, so temperature-controlled packaging must be engineered to withstand the stress of extreme temperatures beside the risk of mechanical abuse.

The global temperature-controlled packaging market is projected to reach around US$ 17.0 billion in revenue by the end of 2027. As per a CMI report, it is expected to grow at a CAGR of 9.1% over 2020-2027.

Key Factors for Increased Adoption in the Market

There has been an increase in the demand for Temperature-Controlled Packaging with the growth of the healthcare market and the cold chain industry.

The global personalized medicine market size was estimated at USD 1.57 trillion in 2018 and is anticipated to expand at a CAGR of 10.6% during the forecast period. Personalized medicine identifies the exact disease for every patient through diagnostic testing. The doctors take into account the patient’s physiology to select the best treatment and determine the right dosage (Aspinall & Hamermesh, 2007). Gene therapy has emerged as a significant sector with personalized medicine therapeutics.

The global fertility testing market was valued at 403.7 million in 2018 and is expected to reach USD 702.3 million by the year 2026, at a CAGR of 7.1%. Late pregnancy cases post the age of 35 in females when the chances of conceiving further declines are driving the fertility testing market. In addition, the testing for male infertility is also growing.

The global in-vitro fertilization market size is expected to reach USD 37.7 billion by 2027, expanding at a CAGR of 9.5%, based on a new report by Grand View Research, Inc. The market is driven by increasing infertility owing to lifestyle changes, and government initiatives to provide better reimbursement policies.

The global cord blood banking services market size was valued at USD 29.7 billion in 2016 and is expected to grow at a CAGR of 11.9% over the forecast period. An increase in the application of cord blood and stem cells in genetic disease treatment is primarily driving the global cord blood banking services market towards growth.

The high adoption rate of thermal packaging solutions across the healthcare industry in the U.S. and Canada (accounting for over 31% share in terms of value in 2019*) is a major trend. The healthcare industry in these two countries is actively adopting TCP solutions for the transportation of vaccines, pharmaceuticals, cell therapies, and biological specimens. The growth of personalized healthcare is demanding a customized approach to thermal packaging design.

How is Akuratemp Contributing to Better Healthcare

“We are developing reliable, reusable, and traceable temperature-controlled packaging solutions to provide thermal security to your personalized healthcare, from diagnosis to therapy.” Harshul Gupta, Chief Technology Office at Akuratemp LLC

Akuratemp adopts a customized approach in developing Temperature-Controlled Packaging solutions following the growth in personalized medicine. Each solution is designed specifically for the biologics it carries and provides thermal security within tolerable ranges for the entire transporting journey.

Akuratemp incorporates smart monitoring technology within each package to not only establish thermal traceability but also to rapidly identify any deviation. Notifications are sent before a compromised biologic sample is consumed for diagnosis or a cure. These payloads can be a diagnostic sample or genome therapy. Each sample ultimately represents life and demand the best possible quality assurance measures.

Akuratemp lives by a single-minded focus, discovering innovative methods to ensure the safety of samples and therapies during their transportation, and ultimately, to provide for a better quality of healthcare. The company offers standard and custom-designed smart thermal packaging for the healthcare supply chain to transport diagnostic samples, blood products, organs, cell cultures, stem cells, antibodies, proteins, and pharmaceuticals. Solutions are available for applications requiring shipping biologics as frozen, refrigerated, and controlled room temperature.

An improvement of diagnoses and treatments relies largely on a robust supply chain for the healthcare industry. We must adapt to an evolving environment and respond in a way that helps us create an efficient healthcare system.

Stay Safe!

References:

CMI Reports, Markets, and Markets

*GlobeNewswire

https://hbr.org/2007/10/realizing-the-promise-of-personalized-medicine

https://www.grandviewresearch.com/industry-analysis/personalized-medicine-market

https://www.globenewswire.com/news-release/2020/02/05/1980521/0/en/Fertility-Testing-Market-To-Reach-USD-702-3-Million-By-2026-Reports-And-Data.html

https://www.grandviewresearch.com/press-release/global-ivf-market

https://www.grandviewresearch.com/industry-analysis/cord-blood-banking-services-market

Leave a Reply

Your email address will not be published. Required fields are marked *