According to the study undertaken by Astute Analytica the global bio pharmaceutical logistics market was valued at US$ 91.57 Billion in 2021 and is forecasted to reach US$ 136.63 Billion by 2027. The market is expected to register a CAGR of 6.5% during the forecast period 2022-2027. Bio pharmaceuticals represent some of the best accomplishments of modern science. These drugs are increasingly being used in practically all branches of medicine. They have become one of the most effective clinical treatment modalities for various diseases, including cancers and metabolic disorders. Bio-pharma logistics refer to the transportation and storage of these consignments.
Factor such as growing of bio pharmaceutical industry and increasing investment in logistics drives the growth in the global bio pharmaceutical logistics market. Growing biopharmaceutical sales coupled with a rapidly increasing biopharmaceutical industry is the primary factor driving the growth of the logistics sector in biopharmaceuticals. Temperature management, protection, safety, conformity with laws and custody chain are the intervention for biopharmaceutical manufacturers at any point from suppliers to distributors. Moreover, logistics is a critical supply chain management component in the bio pharmaceutical industry. The bio pharmaceutical industry opts for logistics to directly handle the acquisition, transportation and movement of resources to end users according to their needs. However, high operational costs restrict the growth in the global bio pharmaceutical logistics market. Also, the power shortage is another problem since bio pharmaceuticals is an energy intensive field. Hence, high running costs are likely to obstruct the market growth.
With the COVID-19 pandemic, the trade of conventional and over-the-counter (OTC) drugs has increased globally. Expansion in demand for cellular therapies, vaccines and blood products in the biopharmaceutical industry is driving the growth of the biopharmaceutical logistics market across the world. The extension of the cold chain logistics via air transportation is the fastest way of shipping pharmaceutical products with negligible product damage, which is highly desired for transporting temperature-sensitive biologic drugs and vaccines.
Market Insights
Bio Pharmaceutical Logistics Market Insights by Logistic Type
Based on logistic type, the bio pharmaceutical logistics market is segmented into cold chain logistics and non-cold chain logistics. The cold chain logistics segment is estimated to project the largest market share and highest CAGR over the forecast period owing to soaring demand for temperature-controlled biopharmaceutical products and services. Moreover, cold chain logistics is a prerequisite in the biopharmaceutical industry due to the increasing need of efficacy of cell therapies. Additionally, the emergence of biomarker testing and regenerative medicine will encourage leading companies to invest in the landscape.
Bio Pharmaceutical Logistics Market Insights by Product Type
Based on product type, the bio pharmaceutical logistics market is segmented into generic drugs and branded drugs. The branded drugs segment is anticipated to hold the largest market share over the forecast period owing to the growing acceptance of branded drugs, along with development efforts to help biopharmaceutical, is generating a higher growth of this market worldwide. Moreover, the generic drugs segment is expected to grow at the highest CAGR over the forecast period.
Bio Pharmaceutical Logistics Market Insights by Mode of Transportation
Based on mode of transportation, the bio pharmaceutical logistics market is segmented into air shipping, sea shipping, road shipping and rail shipping. The air shipping segment are expected to project the highest CAGR over the forecast period as air shipping is the fastest mode of transportation for medical goods with zero loss or product degradation. The air shipping is extremely highly sought for the transport of temperature sensitive vaccines and essential biological drugs.
Bio Pharmaceutical Logistics Market Insights by Retail Format
Based on retail format, the bio pharmaceutical logistics market is segmented into specialty type, hyper markets, departmental stores and other retailers. The departmental stores segment dominated the global bio pharmaceutical logistics market in 2021 owing to several laws implemented by government and regulatory bodies in order to ensure that retail pharmacy operates efficiently and safely. Moreover, because of the unsustainable population coupled with the increase in per capita income, retail sector is booming across the globe. With the advent of e-commerce in pharmaceutical sector, departmental stores are further anticipated to project the highest CAGR over the forecast period.
Bio Pharmaceutical Logistics Market Insights by Regional Outlook
Based on region, North America is anticipated to witness the highest CAGR over the forecast period owing to the presence of leading companies and strong demand for medicines. Also, due to the increasing production of pharmaceuticals drugs, product development there is a significant growth in the bio pharmaceuticals in the North America. Research and investment direct towards a growing demand for transport of these drugs driving the bio pharmaceutical logistics market in the region. Also, North America have a high number of exports and imports for biopharmaceuticals and are the first to introduce advanced technologies to better transportation and warehousing in the supply chain.
Competitive Insight
Global Bio Pharmaceutical Logistics Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the global bio pharmaceutical logistics market include Deutsche Post DHL, Kuehne+Nagel, DB Schenker, FedEx, Amerisource Bergen, XPO Logistics, Panalpina, Versacold, Agility, DSV and UPS among others.
Segmentation Overview
Global Bio Pharmaceutical Logistics Market is segmented based on logistics type, product type, mode of transportation, retail format and region. The industry trends in the global bio pharmaceutical logistics market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Bio Pharmaceutical Logistics Market:
By Logistics Type segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
By Product Type segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
By Mode of Transportation segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
By Retail Format segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
By Region segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
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