NEW YORK, Nov. 24, 2023 /PRNewswire/ — A latest research report [110+] pages with 360-Degree visibility, titled “Bio Pharma Logistics Market Share, Size, Trends, Industry Analysis Report, By Type (Cold Chain Logistics, Non-Cold Chain Logistics); By Service Type; By Mode of Transportation; By Region; Segment Forecast, 2023- 2032” published by Polaris Market Research in its research repository.
The global bio pharma logistics market size and share is predicted to grow from USD 96.42 billion in 2022 to USD 192.52 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 7.2% from 2023 to 2032, according to the latest report by Polaris Market Research.
A Quick Review
- What is Logistics in the Pharmaceutical Industry?
Biopharma logistics is related to the handling, storage, and transportation of multiple and varied pharmaceutical products. Logistics plays an important role in the functioning of any biopharma firm. These companies are responsible for delivering drugs and equipment on time as there are often critical situations when the receiver needs it urgently. Also, they need to ensure a controlled environment as several biopharma products need adherence to specific conditions as they’re transported from their manufacturing point to final consumers.
Biopharma logistics encompasses a wide range of products, ranging from medicines, healthcare products, and surgical instruments to raw materials and biotechnological materials. Biopharma products can be carried through all four main modes of transportation, including roadways, sea, airways, and railways. The capability to seamlessly and securely transport vaccines, medicines, and other biologics from production hubs to end users has made biopharma logistics an integral part of the worldwide pharmaceutical sector and is driving the bio pharma logistics market growth.
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Who are the Key Players in Biopharma Logistics?
- AmerisourceBergen Corporation
- CEVA Logistics AG
- DHL International GmbH (DHL Life Sciences & Healthcare)
- FedEx Corporation (FedEx Express)
- Fisher Clinical Services, Inc.
- Kuehne + Nagel International AG
- Marken, a UPS Company
- Panalpina World Transport (Holding) Ltd.
- QuickSTAT (Quick International Courier)
- SF Express Co., Ltd.
- SkyCell AG
- UPS (United Parcel Service, Inc.)
- VersaCold Logistics Services
- World Courier, a part of AmerisourceBergen
- Zuellig Pharma Holdings Pte. Ltd.
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Important Highlights of the Report
- Biopharma logistics ensure the safety and integrity of medications and biologics during transportation, making it an important cornerstone of the pharmaceutical sector.
- Growing technological advancements are playing a crucial role in driving the growth of the market.
- The bio pharma logistics market segmentation is primarily based on type, service type, mode of transportation, and region.
- North America has dominated the market with the largest share in 2022.
Bio pharma Logistics Market Details
|
Report Attributes |
Details |
|
Market value in 2023 |
USD 103.15 billion |
|
Market value in 2032 |
USD 192.52 billion |
|
CAGR |
7.2% from 2023 – 2032 |
|
Base year |
2022 |
|
Historical data |
2019 – 2021 |
|
Forecast Period |
2023 – 2032 |
Market’s Prime Determinants of Growth, Trends, and Opportunities
Growth Drivers
- Rising technological advances: The bio pharma logistics market size has increased substantially due to increasing advancements in technology. Progress in cold chain technology has completely transformed the way biopharmaceuticals are stored and transformed. Besides, innovations like temperature-controlled containers and real-time monitoring systems have significantly lowered the risk of product degradation during transit.
- Growing number of new biopharmaceutical products: An increase in the number of biopharmaceutical products in development, like gene therapies, monoclonal antibodies, and vaccines, is another major factor propelling the industry forward. Biopharmaceutical products often need precise control over temperature, and handlers need to follow specific handling protocols.
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Trends and Opportunities
- Globalization of pharmaceutical production: The need for dependable and efficient logistics network has become highly important as the globalization of pharmaceutical production and distribution takes place. This is especially true for the biopharmaceutical industry, where products are manufactured in highly specialized facilities and distributed globally. Besides, the advent of personalized medicine and cell therapies, which need specialized handling and transportation, is also creating significant demand for advanced logistics solutions.
The Cold Chain Logistics Segment is Anticipated to Witness the Highest Growth
By type, the cold chain logistics segment is projected to lead the bio pharma logistics market demand. This can largely be attributed to temperature-sensitive biopharmaceuticals needing specialized handling and transportation. As such, the demand for advanced cold chain solutions in the market has increased.
Additionally, the introduction of stringent regulatory requirements and quality standards by regulatory authorities has increased the need for precise temperature control. Continuous advancements in cold chain technology have significantly strengthened the progress of the segment. With the booming pharmaceutical sector worldwide, the cold chain logistics segment is in a strong position to witness robust growth.
Warehousing Segment Held the Largest Market Share
The warehousing segment accounts for a significant portion of the bio pharma logistics market share. The booming pharmaceutical sector has increased the demand for dedicated storage units. These units must meet stringent regulatory requirements for quality, temperature control, and security. In addition, the rising sophistication of pharmaceutical supply chains has made it necessary to expand warehousing capacity to ensure timely and efficient delivery of medications and biologics.
Furthermore, the global distribution of pharmaceuticals has increased the demand for strategically placed warehouses to promote international shipping. As more and more biopharma companies look towards optimizing supply chains and meeting the evolving healthcare challenges, the warehousing segment is projected to continue its upward trajectory in the market.
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Regional Insights
- Which Country Leads the Biopharma Logistics Sector?
North America: North America dominated the market for biopharma logistics in 2022. This is largely due to an increase in biopharmaceutical R&D initiatives, along with a rise in FDA-approved products. In addition, technological advances and real-tracking systems have improved the region’s capabilities to handle temperature-sensitive pharmaceuticals, thereby positioning it for sustained growth in the industry.
Asia Pacific: The Bio pharma logistics market in Asia Pacific region has experienced significant growth in the past few years. The booming healthcare sector and rise in pharma production have increased the need for specialized logistics services. Besides, rising R&D initiatives have boosted the demand for stringent temperature-controlled transportation in the region.
Browse the Detail Report “Bio Pharma Logistics Market Share, Size, Trends, Industry Analysis Report, By Type (Cold Chain Logistics, Non-Cold Chain Logistics); By Service Type; By Mode of Transportation; By Region; Segment Forecast, 2023- 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/bio-pharma-logistics-market
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Polaris Market Research has segmented the bio pharma logistics market report based on type, service type, mode of transportation, and region:
Bio Pharma Logistics, Type Outlook (Revenue – USD Billion, 2019 – 2032)
- Cold Chain Logistics
- Non-Cold Chain Logistics
Bio Pharma Logistics, Service Type Outlook (Revenue – USD Billion, 2019 – 2032)
- Warehousing
- Transportation
- Packaging
- Others
Bio Pharma Logistics, Mode of Transportation Outlook (Revenue – USD Billion, 2019 – 2032)
- Roadways
- Sea
- Airways
- Railways
Key Questions Answered in the Report
- What is the current size and forecast value of the market?
- Who are the key players in the industry?
- Which segment accounts for the largest bio pharma logistics market share?
- Which region accounts for the highest biopharma logistics market sales?
- At what CAGR is the bio pharma logistics market anticipated to grow?
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