Industries Use Industrial Refrigeration Systems for Temperature-Sensitive Items

The surging sales of biotech drugs and biologic products, on account of the growing prevalence of chronic and infectious diseases, will result in the large-scale adoption of industrial refrigeration systems in pharmaceutical companies in the coming years. Pharmaceutical companies use special logistics solutions to maintain the quality of such temperature-sensitive products while transporting them from production units to pharmacies, patients, clinics, and hospitals.

Additionally, pharmaceutical companies also deploy such systems in their warehouses to store biologic products and biotech drugs. Moreover, the increasing usage of refrigeration systems in pharmaceutical manufacturing units for cold sterilization of medical devices, tissue samples, and biologics is also expected to fuel the industrial refrigeration systems market at a CAGR of 5.0% during the forecast period (2020–2030).

According to P&S Intelligence, the market revenue stood at $26.8 billion in 2019 and it will reach $41.1 billion by 2030. In recent years, the governments of several countries have implemented stringent laws to ban the use of fluorinated refrigerants and encourage the adoption of eco-friendly refrigerants to reduce the greenhouse gas burden.

Globally, Asia-Pacific (APAC) is expected to account for the largest share in the industrial refrigeration systems market during the forecast years. This will be on account of the presence of a vast population in APAC countries and numerous industrialized nations in the region. Besides, the heavy investments being made by APAC nations in the creation of world-class cold-chain infrastructure will also facilitate the demand for industrial refrigeration systems.

For example, the Government of India aims to develop 27 new integrated cold-chain systems through its Pradhan Mantri Kisan Sampada Yojana (PMKSY). Therefore, the burgeoning demand for biotech products and biologic drugs will create a huge demand for industrial refrigeration systems, globally.

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