Global Biopharmaceutical Logistics Market is anticipated to reach US$ 182.82 Bn by 2026 from US$ 104.9 Bn in 2020 at a CAGR of 9.7 % during a forecast period.
Global Biopharmaceutical Logistics Market Overview
Biopharmaceuticals are considered complicated products that require special treatment. Precision medicines and gene therapies need a supply chain controlled by temperature. The biopharmaceutical market is bound to grow with a growing number of precision medicines and gene therapies. In the field of efficiency and temperature-sensitive pharmaceutical products, outsourced logistics services provide pharmaceutical firms with various advantages.
North America and Europe are the market leaders. This is because these countries have a high volume of biopharmaceutical exports and imports. The introduction of innovative technologies for better transportation and warehousing in the supply chain is also driving the growth of the market in the region.
Global Biopharmaceutical Logistics Market
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The report includes a comprehensive background analysis of the rail freight market, including an analysis of industry and economic sector contributions. The report has covered the market trends from 2015 to forecast the market through 2026. Where 2019 is considered a base year however the numbers for 2020 are considered based on the actual output of the market's companies.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of the market and its effect on the demand and supply of the market. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Biopharmaceutical Logistics Market Dynamics
The rise in demand for household healthcare items, as well as the growing need for quick medical assistance, are both driving the market forward. The market is also growing due to the increased development of biologics, vaccines, and hormone treatments, all of which require cold chain transport. High sales of pharmaceutical items drive the demand of global export-import of Bio-pharmaceutical products in the bio-pharmaceutical logistics market. Thus, the investment rate in the R&D segment of the biopharmaceutical market is expected to increase significantly during the forecast period.
The market is also growing due to the increasing trend of outsourcing logistical operations, as well as rapid technical improvements in logistics. Data mining, mobile cloud solutions, and real-time monitoring are some of the technologies that have contributed to the market's positive growth. Besides, these monitoring solutions aid logistic companies by sending warnings that allow them to obtain information needed to carry out emergency plans. As a result, the adoption of these solutions is likely to drive market growth during the forecast period.
However, the high operational costs of maintaining temperature-sensitive products may hamper the market's overall growth during the forecast period.
COVID-19 Impact on the Global Biopharmaceutical Logistics Market
COVID pandemic has a major impact on the market in terms of sales as more than 44% of sales of units are hampered owing to disruption in transport capabilities of the manufacturers due to stringent norms of lockdown and increasing safety concerns. Furthermore, supply chain interruptions, demand destruction, and changes in customer behavior owing to stringent lockdown conditions across the globe have impacted the global biopharmaceutical logistics market.
During the COVID -19 pandemic, demand for cellular therapies, vaccines, and blood products in the biopharmaceutical market increased drastically. These pharmaceutical products were transported by air freight with minimal damage, which is especially significant for temperature-sensitive vaccinations and critical biologic medications. This also increased the trade of conventional and over-the-counter medicines globally, which had a positive impact on the growth of the biopharmaceutical logistics market during the pandemic.
Global Biopharmaceutical Logistics Market Segmentation Analysis
By Product, the non-cold chain logistics segment dominated the market, with market size of US$ 67,293.15 Mn. in 2019 and to reach US$ xx Mn. by 2026, with a CAGR of xx%.
The cold chain segment is expected to have the largest market share. This growth is attributed to an increased demand for temperature-controlled products, requiring accurate temperature control logistics services to guarantee the effectiveness of the products. Telematics is also being utilized to increase the efficiency, connection, and security of their transportation items in the field of cold-chain biopharmaceutical logistics.
Global Biopharmaceutical Logistics Market v
By Application, the air shipping segment dominated the market, with a market size of US$ XX Mn. in 2019 and to reach US$ XX Mn. by 2026, with a CAGR of XX%. When compared to other modes of cold logistics transit, air transportation has the highest share, with all of the required precision in the transport. Airfreight is the fastest route to carry pharmaceutical products with minimal damage, which is especially important for temperature-sensitive vaccines and crucial biologic pharmaceuticals. However, because air transport has a volume constraint, sea shipping, and road shipping is expected to overtake air shipping in terms of volume increase during the forecast period.
Global Biopharmaceutical Logistics Market Regional Insights
In 2019, the North American region had the largest market share of 37% in the global biopharmaceutical logistics market. This is owing to the vast number of pharmaceuticals export and importation markets in the region. Also, technological development, warehousing, and transportation in the supply chain are expected to drive the growth of the market during the forecast period. Europe is another important pharmaceutical market, with a revenue of USD 215 million in 2019. It is the world's second-largest pharmaceutical market.
The Asia Pacific is expected to grow at a rapid pace. This is due to the rising need for medicines among the region's aging population and the increasing number of diseases. The increasing demand for pharmaceuticals and personal protective equipment (PPE) as a result of COVID-19 is an important driver of regions growth.
Global Biopharmaceutical Logistics Market v
Leading market key players are working to demonstrate the opportunity to the car rental business market.
Major players are involved in adopting maintainable strategies to gain competitive edges such as new product launches, product up-gradation, and M&A, collaborative agreements. For example, In January 2019, FedEx announced the acquisition of Flying Cargo Group's International Express Business in Israel. The contract was signed to expand FedEx's portfolio and regional presence, allowing clients to make use of the company's global network.
In May 2020, United Parcel Service of America, Inc. announced the debut of the new UPS Premier, which will expand the company's healthcare capabilities. By utilizing next-generation sensor technologies and monitoring, UPS Premier aims to increase the service dependability and visibility of healthcare goods.
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Global Biopharmaceutical Logistics Market Scope:
Global Biopharmaceutical Logistics Market by Region
• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Global Biopharmaceutical Logistics Market Key Players
• FedEx Corporation
• Ceva Logistics LLC
• Amerisource Bergen Corporation
• Panalpina Group
• Kuehne and Nagel International AG
• XPO Logistics, Inc
• United Parcel Service, Inc
• Deutsche Post DHL Group
• DB Schenker
• C.H. Robinson Worldwide, Inc
• United Parcel Service of America
• DHL International GmbH
• SF Express
• DB Schenker
• C.H. Robinson
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