- The establishment of va-Q-tec’s new subsidiary in Shanghai is the logical, strategically important next step in va-Q-tec’s growth strategy and provides a much better connection to the Chinese growth market in the field of TempChain logistics.
- Significant differences in terms of logistical infrastructure and climate are creating increasing demand for va-Q-tec’s high-performance thermal transport solutions for temperature-sensitive goods, both for large-volume long-distance transports and smaller quantities over the last mile.
- China is considered one of the largest growth markets for the pharmaceutical industry due to its government-sponsored healthcare market and thus holds enormous potential for the German company.
Würzburg, June 09, 2022. va-Q-tec is further expanding its international presence by opening a Chinese subsidiary in Shanghai. Through the newly founded va-Q-tec Thermal Solutions (Shanghai) Co., Ltd. the rental and sale of the thermal boxes and containers as well as the innovative services will also be offered from Shanghai. Especially the city in the east coast of China is considered as one of the most important transshipment centers of the Chinese pharmaceutical industry. Therefore, the presence of va-Q-tec there is extremely promising and will be continuously expanded in the future by a team of experts around Henry Pek as Managing Director.
The establishment of a subsidiary in China answers the current development of the global pharmaceutical industry: the global healthcare market had a total volume of USD 1,250 billion in 2019. China has become the second largest healthcare market in the world with a market share of 7.6%, surpassing Japan as early as 2016. It is predictable that the country will overtake the USA, currently the largest healthcare market, within the next three years. The reasons for further growth are manifold: In addition to the increasing elderly population, a growing, emerging middle class, and various government initiatives subsidized from various directions, the Chinese pharmaceutical industry is very optimistic about the future. In addition, Chinese consumers are increasingly willing to invest more money in better healthcare.
The goal of va-Q-tec’s new subsidiary in Shanghai is to answer the increasing demand with innovative thermal boxes and containers. Due to their unique technology, the vacuum-insulated high-performance containers are able to transport modern medicines, such as the Corona mRNA vaccines, but also other temperature-sensitive medicines, in a temperature-stable and reliable manner in various constant ranges between -70°C and +8°C.
The Chinese climate ranges from polar zones in the north to desert-like areas in the south – a special challenge that va-Q-tec’s innovative containers and boxes meet even without external energy supply in the form of power generators. Both the high-performance boxes and containers are available as part of a global rental network. This not only ensures that logistics can be handled very cost-effectively with the help of these solutions, but their use also eliminates a great deal of packaging waste.
“With our subsidiary in China, we can offer our local customers and partners even better and faster services!”, Christopher J. Storch, Global Head of Sales of the va-Q-tec Group, is pleased to announce. “With va-Q-tec Thermal Solutions (Shanghai) Co., Ltd. we will not only generate local business in the future, but also expand our potential for the entire group. In the future, we will be an even more relevant player in one of the largest, most dynamic and fastest growing markets in the world. It makes me proud to actively shape these steps with va-Q-tec!”
Henry Pek, Managing Director of the China office, adds, “We are pleased to announce the establishment and presence of the va-Q-tec subsidiary in China. We have already been active in China since mid-August 2019 with the leasing of our container fleet. Therefore, this latest subsidiary in China is part of our global expansion plan with the aim to make our full range of box and container products and services available there. Our official name is va-Q-tec Thermal Solutions (Shanghai) Co., Ltd. based in Shanghai, complemented by the TempChain Service Center. We are also pleased to announce that, given the huge market potential in China, we will gradually add more TempChain Service Centers in the north and south of the country to effectively reach and serve our enormous customer base.”