Biopharmaceutical Logistics Market to Reach US$ 120.7 Billion in 2024; Growth in popularity of transporting temperature-controlled shipments to propel market growth

Biopharmaceutical logistics involves the controlled and planned delivery management of biopharmaceutical product shipments from their point of manufacture to their point of end-use, with the shipment being monitored at every step in the value chain. It also includes the storage and warehousing of the shipment while it is in transit. The biopharmaceutical logistics market has, in recent times, progressed to being a highly competitive market owing to the demand for secure and reliable transportation of biopharmaceuticals across countries and continents. Although there is no dearth of logistics suppliers, those engaged in offering trustworthy and reliable transportation at a competitive cost are few. Moreover, logistics giants are considered to be more affordable than specialty providers, and price has been ranked by pharmaceutical manufacturers as fourth in importance, after quality, reliability and regulatory expertise and thus there is an increasing preference for choosing a combination of global and specialty providers.

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The global biopharmaceutical logistics market has been segmented into cold chain and non-cold chain logistics based on type, and into transportation and warehousing based on service. The cold chain logistics segment is estimated to gain market share attributed to increasing utilization of biologics such as vaccines, proteins, and other tissue-related products in treating and preventing different diseases across the world. Presently, is has been estimated that overall, approximately 40% of pharmaceuticals in development are biologics; thus, the number of biological medicines approved to treat patients is anticipated to rise in the coming years. Continued technological upgradations and the growing need to get the drug faster to its end-use destination is likely to lead to warehousing capturing a lower CAGR compared to transportation during the forecast period.

In terms of mode of transportation, the biopharmaceutical logistics market comprises the segments of air shipping, sea shipping, road shipping and rail shipping. While air shipping is the foremost choice for pharmaceutical transport, especially for temperature sensitive shipments, some shippers have shifted to ocean-based transportation, as its the ability to manage and track locations and temperatures in containers has witnessed significant improvement. A challenge which is being faced by this industry, however, is driver shortage for managing cold chain transport. Furthermore, the operation of a cold chain fleet requires significant capital investment, as well as specially trained drivers, which signifies a scenario of increased liability in the hands of a logistics service provider.

Increase in outsourcing logistics to third party logistics providers is anticipated to bolster growth of the overall biopharmaceutical logistics market. With an impending patent cliff for many blockbuster drugs, pharma companies have realized the importance of switching to a more sustainable approach in cost containment, by achieving cost reduction though more a tactical financial management of its supply chain. Outsourcing to third party logistics providers helps reduce cost and time spent on managing the secure delivery of manufactured drug to its final destination of use. Another trend being witnessed by the biopharmaceutical industry is the advent of a new wave of therapies which are specific and targeted to a particular patient. Personalized therapies, as they are often called, will lead to a rise in demand for swift and temperature-sensitive and temperature-controlled shipments in the future, which could be a lead opportunity likely to be tapped by players operating in this market.

Overall the biopharmaceutical logistics market shall witness strong growth as it will cater to a broad base of consumers, i.e. those willing to pay heavily for secure and rapid transport as well as those focusing on cost containment strategies and opting shifting some supplies to ocean or road transport. Moreover, presence of vendors with access to technological expertise, such as tracking at every point in the supply chain, would aid in further propelling the market.
Key companies profiled in the report include FedEx Corporation, Ceva Logistics LLC, Amerisource Bergen Corporation, Panalpina Group, Kuehne + Nagel International AG, XPO Logistics, Inc., United Parcel Service, Inc., Deutsche Post DHL Group, DB Schenker and C.H. Robinson Worldwide, Inc.

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