Global Biopharmaceutical Logistics Market: Increasing Usage of Biological Drugs to Pave Way for Expansion

The threat of competition witnessed by players operating in the global biopharmaceutical logistics market is forecast to remain from moderate to high. According to a new study by Transparency Market Research (TMR), the prevailing competitive trends is unlikely to change between 2016 and 2024. However, the intensity may reduce over time as established players focus on innovating region-specific services.

In 2015, the top five companies comprising AmerisourceBergen Corporation, DB Schenker, UPS, FedEx, and DHL held the dominant share of 31% in the global biopharmaceutical logistics market. Aiming at expanding their regional footprint, several of the established players are investing in construction of facilities across emerging nations. Also to make their foothold stronger, the leading market players are providing user-friendly shipping, e-commerce, logistics management, and visibility tools.

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Considering the strategies undertaken by the players in a dynamic business environment, experts predict positive outlook for the global biopharmaceutical logistics market. According to TMR, the global biopharmaceutical logistics market will reach US$120.7 bn, exhibiting a CAGR of 6.2% between 2016 and 2024. In 2015, the market was valued at US$70.9 bn. Based on type, the market can be bifurcated into cold chain logistics and non-cold chain logistics. Of these, the non-cold chain logistics segment held the leading share of 80% in the global market in 2015. Regionally, North America emerged dominant with a share of 32.9% in the global market in 2015.

Sound Know-how of Logistics Providers to Create Growth Opportunities for Market

Many logistics providers are making positive strides in the market and are seen enhancing their regional and local presence and expertise. These companies have sound knowledge and a strong network of local contacts. The sound know-hows of logistics providers can help in reducing challenges for pharmaceutical companies especially those running critical trials in emerging markets, or shipping in politically and legally difficult zones. This is also driving the expansion of the global biopharmaceutical logistics market.

Cold chain carriers have considerably invested in devices built into refrigeration units to monitor location and temperature aimed at meeting industry demands. The technology has also enabled drug manufacturers to access relevant data in real time. It also offers increased visibility and the opportunity to prevent or mitigate loss of a critical shipment. The advent of the technology, coupled with recent innovations in packaging has provided significant impetus to the biopharmaceutical logistics market. Also with the increasing manufacture and usage biological drugs, the demand for biopharmaceutical logistics is expected to get spurred.

High Cost of Transporting Biopharmaceuticals Poses Threat

On the downside, the cost of transporting biopharmaceuticals, especially the ones that are temperature sensitive and need rapid delivery to destinations, is very expensive. As with companies opting for air transport, they claim air shipping to cost considerably higher than transporting by sea. As fast shipping of highly temperature sensitive biopharmaceuticals is only possible by air transport, it has emerged as a major challenge for the market players. Also regulatory concerns and region-specific temperature control challenges are posing threat to the global biopharmaceutical logistics market.

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Advent of Targeted Therapies to Pave Way for Growth

The world of medicine has witnessed a new wave of targeted therapies, which are designed as per the treatment needs of a particular patient. Therefore, the demand for targeted logistics solutions is expected to gain pace as therapies and drugs evolve to meet demands of more targeted approach. These developments are likely to help the market emerge out of the aforementioned challenges. Besides this, advent of innovative solutions aimed at mitigating challenges in clinical trial supply chain is likely to aid the market’s expansion in the coming years.

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This release was published on openPR.