Cold chain sector ‘worth $6.6bn’
Dubai, September 23, 2010
Growth in the pharmaceutical industry means that the worldwide cold chain industry is expected to be worth $6.6 billion by the year 2011, said a report.
Figures from the Cold Chain Biopharma Logistics Sourcebook 2010 state that by the year 2014 seven of the top ten pharmaceutical products will require cold chain handling and regulations surrounding the monitoring and temperature controls of cold chain handling are likely to increase.
Demand for cold chain facilities is only likely to rise in the coming years, as increases have been seen in the vaccine market, in part due to the spread of the H1N1 virus.
"This activity is being driven by a combination of where the biopharma industry is going - toward more biologics - and the global industry's push into emerging markets," Nick Basta, co-author of the report and editor-in-chief of Pharmaceutical Commerce, was quoted by the International Federation of Pharmaceutical Wholesalers as saying.
The Mena region has played a large part in this growth and pharmaceutical industry companies have been investing in their cold chain operation in the region.
The upcoming cold chain summit will combine supply chain, logistics and quality leaders from multi-national biopharma companies from the region and around the world as well as government and regulatory figures to discuss issues and proposed solutions that may occur across the supply chain.
Cold Chain Mena 2010 will address how to monitor, control and manage temperatures and other associated risks to biopharma products from manufacturing across the whole supply chain to the end user. It will identify best practice methodology in the region with global case studies.
The interactive forum will also consider regulatory challenges throughout the region and suggest solutions to these challenges.
IQPC's Cold Chain Mena 2010 is set to be held from November 7 to 10 at the Grand Millennium Dubai. – TradeArabia News Service