The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the global bio pharmaceutical logistics market from US$ 91.57 Billion in 2021 to US$ 136.63 Billion by 2027. The market is anticipated to grow at a CAGR of 6.5% during the forecast period 2022-2027. Enhancement in the production rate of biologics, hormone medications, vaccines, complex proteins and temperature-specific byproducts requiring cold chain shipment has also witnessed significant growth in the bio-pharmaceutical logistics market. Moreover, transportation and storage of these consignments are likely to gain traction across North America, Europe and the Asia Pacific. The demand for temperature monitoring across healthcare and pharmaceuticals sectors will drive the need for advanced storage solutions. Logistics play a key role in the pharmaceutical field.
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Based on logistics type, 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, in terms of product type, branded drugs segment is anticipated to hold the largest market share over the forecast period. Whereas, the generic drugs segment is expected to grow at the highest CAGR over the forecast period. Furthermore, by mode of transportation, 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. In addition to this, by retail format, the departmental stores segment dominated the global bio pharmaceutical logistics market in 2021.
Market Dynamics and Trends
Drivers
The growth of bio pharmaceutical industry and increasing investment in logistics will boost the global bio pharmaceutical logistics market during the forecast period. 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. Many biological and medical products need a temperature-controlled atmosphere at the manufacturing and distribution stage, which helps to ensure the potency and safety of the medications. Moreover, the distribution and shipment of different pharmaceutical products need a certain temperature, which are likely to make significant gains in the marketplace. Logistics is a critical supply chain management component in the bio pharmaceutical industry.
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Restraints
High operational costs are a restraining factor which inhibits the growth of the market during the forecast period. As large electricity is needed for daily operations in the cold chain logistics industry. Also, the high cost of electricity and real estate would threaten the environment and operational procedure. In addition to this, the barriers to entry in the industry are strong. 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.
Opportunity
Rapid technological advancements in logistics provides a lucrative growth opportunity in the global bio pharmaceutical logistics market. Technologies such as data mining, mobile cloud applications, block chain and real time analytics are the factors which have positively contributed to market development. Ongoing logistics advances and cloud infrastructure and app interfaces are projected to create numerous growth opportunities on the bio pharmaceutical logistics industry.
Bio Pharmaceutical Logistics Market Regional Insights
North America Bio Pharmaceutical Logistics Market-
US holds the major share in terms of revenue in the North America adaptive learning software market in 2021 and is also projected to grow with the highest CAGR during forecast period owing to the presence of many large players in the region. Moreover, in Canada, the growing production owing to development of drugs and expansion and acquisition of facilities drives the demand for bio pharmaceutical logistics as the increased production demands a strong supply chain for domestic and international supply of the drugs without the damage.
Europe Bio Pharmaceutical Logistics Market-
UK is expected to project the highest CAGR in the Europe bio pharmaceutical logistics market during forecast period driven by surging pharmaceutical production and exports along with the strategic initiatives taken up by the private organization indulged in offering bio pharmaceutical logistics services. Moreover, based on logistic type, 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.
Asia Pacific Bio Pharmaceutical Logistics Market-
China is the highest share holder region in the Asia Pacific bio pharmaceutical logistics market in 2021 and is also expected to project the highest CAGR during the forecast period due to the rising incomes and an improving reimbursement landscape, patients increasingly have the means to afford the newest and most effective biopharmaceuticals. Moreover, in terms of product type, branded drugs segment is anticipated to hold the largest market share over the forecast period owing to the growing acceptance of branded drugs globally. Whereas, the generic drugs segment is expected to grow at the highest CAGR over the forecast period.
Latin America Bio Pharmaceutical Logistics Market-
Brazil is projected to grow with the highest CAGR in the Latin America bio pharmaceutical logistics market over the forecast period. The growing biopharma industry along with the growing production of pharmaceutical drugs and increased investments from companies related to manufacturing facilities lays the ground for the need of a strong supply network. Moreover, based on mode of transportation, 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.
Middle East Africa Bio Pharmaceutical Logistics Market-
Saudi Arabia is the highest share holder region in 2021 and is also projected to grow with the highest CAGR during the forecast period owing to the escalating focus of the government to establish local manufacturing facilities. Moreover, on the basis of retail format, the departmental stores segment dominated the Middle East Africa 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.
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.
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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:
- Cold Chain Logistics
- Non-Cold Chain Logistics
- By Product Type segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
- Generic Drugs
- Branded Drugs
- By Mode of Transportation segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
- Air Shipping
- Sea Shipping
- Road Shipping
- Rail Shipping
- By Retail Format segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
- Specialty Stores
- Hyper Markets
- Departmental Stores
- Other Retailers
- By Region segment of the Global Bio Pharmaceutical Logistics Market is sub-segmented into:
- North America
- The U.S.
- Canada
- Rest of NA
- Europe
- The UK
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Argentina
- Brazil
- Rest of Latin America
- Middle East Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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