Across the region, the pharmaceutical market is one of the fastest-growing markets. The pharmaceutical market has constantly been growing in the region in recent years. Several governments are making efforts to bolster the pharmaceutical industry. The government has also rolled out broad changes to the pharmaceutical regulatory environment. The regional pharmaceutical companies are primarily involved in producing generics, therapeutic medicines, active pharmaceutical ingredients, and traditional medicine. The region’s exports are witnessing continuous and robust growth due to the high demand for generic drugs. India has an important position in the global pharmaceuticals sector and is the largest provider of generic drugs globally. According to the India Brand Equity Foundation, the country ranks third in pharmaceutical production by volume and 14th by value globally. The domestic pharmaceutical industry consists of a network of 3,000 drug companies and ~10,500 manufacturing units. The country’s pharmaceutical sector caters to over 50% of global demand for vaccines, 40% of generic demand in the US, and 25% of all medicine in the UK. India exports drugs to more than 200 countries globally, with the US being the key market. Therefore, the strong growth of the pharmaceutical industry in various countries across the region due to the growing demand for different pharmaceutical products creates the need for temperature-controlled pharmaceutical transportation and contributes to the strong demand for thermal pallet covers for pharmaceutical applications across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC thermal pallet covers market for pharmaceutical application. The APAC thermal pallet covers market for pharmaceutical application is expected to grow at a good CAGR during the forecast period.
APAC Thermal Pallet Covers Market for Pharmaceutical Application Segmentation
The APAC thermal pallet covers market for pharmaceutical application is segmented based on type and country. Based on type, the APAC thermal pallet covers market for pharmaceutical application is segmented into aluminum foil, polymer, and others. The aluminum foil segment dominated the market in 2020, and the same segment is expected to be the fastest-growing segment during the forecast period. Based on country, the APAC thermal pallet covers market for pharmaceutical application has been segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC.
CSafeGlobal, Eceplast, Insulated Products Corporation, PAC Worldwide Corporation, Protek Cargo, QProducts & Services, and Thermal Packaging Solutions are among the leading companies in the APAC thermal pallet covers market for pharmaceutical application.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 332.88 Million |
| Market Size by 2028 | US$ 653.25 Million |
| CAGR (2021 - 2028) | 10.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Thermal Pallet Covers Market is valued at US$ 332.88 Million in 2021, it is projected to reach US$ 653.25 Million by 2028.
As per our report Asia Pacific Thermal Pallet Covers Market, the market size is valued at US$ 332.88 Million in 2021, projecting it to reach US$ 653.25 Million by 2028. This translates to a CAGR of approximately 10.1% during the forecast period.
The Asia Pacific Thermal Pallet Covers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Thermal Pallet Covers Market report:
The Asia Pacific Thermal Pallet Covers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Thermal Pallet Covers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Thermal Pallet Covers Market value chain can benefit from the information contained in a comprehensive market report.
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