Press release
Bio-Pharmaceutical Logistics Market - Growth and Opportunities in Global Industry by 2024
Nowadays, the pharmaceutical companies have even started to outsource the logistics domain of the company to the third parties. Logistics market is gaining popularity due to fast track execution and better communication, even this market is in constant process to reduce packaging costs. The market has also witnessed rapid growth due to mergers and acquisitions by the existing players.
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The bio-pharmaceutical sector is growing at a rapid momentum with the increasing health awareness among people and new innovations and technologies in medical and diagnostics field. These companies opt for logistics to focus such strata which are yet emerging or are devoid of such facilities. The companies hire the logistics to expand their network to emerging countries in South East Asia, Middle East Africa, Latin America and the Nordic countries. Due to the vast distribution network and presence in almost all countries the logistic service fulfills the unmet medical needs of the people living far away.
The respective governments of emerging countries provides attractive reimbursement policies for healthcare and increased per capita healthcare expenditure, and thereby increases the demand for quality medical care. Healthcare companies based out at the U.S. and European market are exploring emerging countries for investment.
While transporting the bio pharmaceutical products, the company is responsible for the good condition of the logistics that has to be delivered. Ideally, the logistic delivery company has to provide the material in good condition (condition at the time of manufacturing) to the recipient. Hence, a great care has to be taken by the logistic company during transportation. This is because the biomolecules may be heat sensitive, or light sensitive or may require some specific environmental conditions.
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The healthcare companies opt for logistics would provide the following services:
-Good distribution services which ensure product integrity as the health and safety of the patients is dependent on these bio pharmaceutical products.
-Complex logistical procedures to maintain the pharmaceutical integrity of the product to be shipped. The highly sensitive bio Pharmaceutical products need packaging expertise.
-Faster and safer shipments options. The companies provide necessary requirements for the shipment without compromise and therefore every shipment has its own shipment handling code.
-Track and trace options. The logistics must provide every details of the shipment from the origin to the destination. This information should be made readily available to the companies by the logistics.
-Closed cool chain shipments. The logistics must provide active and passive containers for shipment according to the temperature requirement by the shipment.
-Controlled cool chain shipment. It provides conditions specifically to predefined temperature ranges.
The biopharmaceutical market on the basis of logistics is segmented into air shipping, sea shipping, land shipping and integrated shipping. This market is further segmented into pick up, storage, retrieval and handling dealings/procedures.
Regionally the Bio pharmaceutical logistics market is segmented as North America, Europe, Asia Pacific, Latin America and Middle East & AfricaKey players operating in the bio pharmaceutical logistics market are Nordic Cold Storage, Biotec Services International, FedEx, DB Schenker, United Parcel Service of America Inc, , Deutsche Post DHL, TNT Express, CEVA, World Courier Management, Marken and GENCO.
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