UPS Sets Up Special Cold Chain Solutions Unit
UPS is expanding its specialty pharmaceutical offerings by establishing UPS Cold Chain Solutions, a comprehensive suite of cold chain technologies, best-in-class capabilities, and new and expanded global facilities providing complete, end-to-end temperature-controlled logistics.
Wes Wheeler, UPS Healthcare president said: “Our customers have been taking advantage of our cold chain capabilities for years, but the pandemic caused UPS to move even faster to enhance an integrated set of cold chain solutions to support the future of the pharmaceutical and medical device industry.
“UPS’ near-perfect, on-time delivery of the COVID-19 vaccine proves how effectively and efficiently our network handles biologically derived drugs, even at extreme temperatures.”
According to the Biopharma Cold Chain Sourcebook, cold chain trends show 48% growth between 2018 and 2024 for drugs that require at least 2 to 8 degrees Celsius storage and shipping.
Additionally, the overall market for cold chain services (packaging, transportation and data services) is expected to significantly accelerate growth over the next three years, growing by 24% by 2024, after posting a 10% increase from 2019 to 2020.
UPS Cold Chain Solutions is purpose-built to provide pharmaceutical companies, healthcare providers and laboratories a full, end-to-end cold chain service offering, including storage and distribution, transportation, visibility, and quality assurance for critical products around the world.