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Bio-Pharmaceutical Logistics Market Size, Share, Trends Analysis And Forecasts(2024 - 2033)
Bio-Pharmaceutical Logistics Market
The bio-pharmaceutical logistics market size is expected to see rapid growth in the next few years. It will grow to $215.69 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to gene and cell therapies market growth, sustainable logistics practices, rise in orphan drug development, adoption of autonomous vehicles, demand for biologics and biosimilars, precision medicine logistics.. Major trends in the forecast period include technology integration in logistics, digitalization of supply chains, risk mitigation and contingency planning, strategic partnerships and collaborations, patient-centric distribution models..
Market Overview -
Biopharmaceuticals refer to medical drugs produced using biotechnology. Biopharmaceutical logistics is the process of transportation, warehousing, packing, and shipping, as well as inventory management of biopharmaceuticals. It provides services for handling biopharmaceuticals such as plasma, and temperature-sensitive products, among others.
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Rising Demand For Biologics Propels Growth In Bio-Pharmaceutical Logistics Market
The increasing use of biologics is expected to propel the bio-pharmaceutical logistics market going forward. Biologics refers to powerful medication products that are produced from living organisms or contain components of living organisms. It is possible for biological drugs to interact with containers or packaging components due to their sensitivity, thus requiring cold or even cryogenic storage. Biopharmaceutical logistics provides services for handling biopharmaceuticals such as plasma, and temperature-sensitive products that enable access to life-saving healthcare products such as biologics, medicines, and vaccines. For instance, in 2021, according to the Academy of Health Information Professionals, a US-based national association, revenues from biological drugs ($17 billion) in 2021, were twice as high as compared to those from non-biologic drugs ($8 billion) in the USA. Therefore, the increasing use of biologics is driving the bio-pharmaceutical logistics market.
Competitive Landscape -
Major companies operating in the bio-pharmaceutical logistics market report are Kuehne + Nagel International AG, FedEx Corporation, SF Express Co. Ltd., Dalsey Hillblom and Lynn, Kerry Logistics Network Limited, AmerisourceBergen Corporation, United Parcel Service of America Inc., DB Schenker, Agility Public Warehousing Company K.S.C.P., C.H. Robinson Worldwide Inc., Ceva Logistics, Dansk Supermarked A/S., Nippon Express, GEODIS S.A., Air Canada Cargo, World Courier Inc., QuickSTAT Global Life Science Logistics Inc., Marken, Biocair, Almac Group, PCI Pharma Services Holdings LLC, Cryoport Inc., MNX Global Logistics LLC., Movianto, Clinical Trial Logistics, Thermo Fisher Scientific, World Courier Management Inc., Cardinal Health Inc., Parexel International Corporation, Selvita S.A. .
The Role Of Technological Advancements In Shaping The Future Of Bio-Pharmaceutical Logistics Market
Technological advancement is a key trend gaining popularity in the bio-pharmaceutical logistics market. Major companies operating in the market are advancing toward innovative technologies to sustain their position in the market. For instance, in September 2022, CubeWorks, a US-based company providing breakthrough smart sensing solutions launched CubiSens XT1, a next-generation visibility solution for cold chain logistics. As the first temperature tracker of its kind, the XT1 monitors biopharma products throughout their entire lifecycle to ensure temperature compliance and quality assurance. It contained the world's smallest temperature tracker as well as ultra-small IoT sensing technology solutions for temperature-sensitive biopharma products. Cold chain logistics challenges today include fragmented temperature monitoring, data aggregation challenges, and incomplete tracking across the supply chain due to outdated temperature data loggers which can be addressed by CubiSens XT1. Powering the CubiSens XT1 is CubeWorks' patented ultra-low power system-on-chip solution. It reduces the number of components in IoT devices by 10 times, making it highly scalable and cost-effective.
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Key Segments -
The bio-pharmaceutical logistics market covered in this report is segmented -
1) By Type: Cold Chain Logistics, Non-Cold Chain Logistics
2) By Service: Transportation, Warehousing And Distribution, Value Added Services
3) By Retail Format: Specialty Stores, Hyper Markets, Departmental Stores
4) By Application: Ground Shipping, Sea Shipping, Air Shipping
5) By End Users: Pharmaceuticals, Biopharmaceuticals, Pharmacies, Hospitals, Clinics, Supermarkets, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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