Overview and Scope
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.
Sizing and Forecast
The bio-pharmaceutical logistics market size has grown rapidly in recent years. It will grow from $131.79 billion in 2023 to $145.69 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to rise in clinical trials, globalization of pharmaceutical supply chains, increase in personalized medicine, temperature-sensitive clinical materials, focus on patient-centric logistics, pharmaceutical serialization initiatives..
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..
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Segmentation & Regional Insights
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
North America was the largest region in the bio-pharmaceutical logistics market share in 2023. The regions covered in the bio-pharmaceutical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the bio-pharmaceutical logistics market are focusing on innovating new advance logistics solution, such as ultra-low temperature-controlled logistics to advance their market operation better. Ultra-low temperature-controlled logistics refers to the storage, preservation, and transportation of goods that require maintenance at extremely low temperatures. For instance, Nippon Express, a Japan-based logistics company, launched ultra-low temperature-controlled logistics service for the pharmaceutical industry. This service is designed to handle goods requiring ultra-low temperatures ranging from -20°C to -85°C. The company has positioned the pharmaceutical industry as a priority and is developing quality control systems and improving its business infrastructure in accordance with Good Distribution Practices (GDP) established for pharmaceuticals. This service covers a broad spectrum of pharmaceutical commodities, including raw materials, intermediates, active pharmaceutical ingredients, and finished products.
The bio-pharmaceutical logistics market report table of contents includes:
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