Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Bio-Pharmaceutical Logistics Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global bio-pharmaceutical logistics market is expected to grow from $119.84 billion in 2022 to $132.48 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The bio-pharmaceutical logistics market is expected to grow to $192.67 billion in 2027 at a CAGR of 9.8%.
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 2020, in the USA, the Centre for Drug Evaluation and Research (CDER) division of the US Food and Drug Administration (FDA), a US-based federal agency responsible for protecting the public health, approved 53 new molecular entities (NMEs), of which 13 were biologics. Furthermore, 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.
Technological advancement is a key trend gaining popularity in the bio-pharmaceutical logistics market. Major companies operating in the market are advancing toward innovative technologies to sustain their position in the market. For instance, in September 2022, CubeWorks, a US-based company providing breakthrough smart sensing solutions launched CubiSens XT1, a next-generation visibility solution for cold chain logistics.
As the first temperature tracker of its kind, the XT1 monitors biopharma products throughout their entire lifecycle to ensure temperature compliance and quality assurance. It contained the world's smallest temperature tracker as well as ultra-small IoT sensing technology solutions for temperature-sensitive biopharma products.
Cold chain logistics challenges today include fragmented temperature monitoring, data aggregation challenges, and incomplete tracking across the supply chain due to outdated temperature data loggers which can be addressed by CubiSens XT1. Powering the CubiSens XT1 is CubeWorks' patented ultra-low power system-on-chip solution. It reduces the number of components in IoT devices by 10 times, making it highly scalable and cost-effective.
In August 2022, CRYOPDP, a France-based company providing innovative temperature-controlled logistics solutions to clinical research acquired Polar Expres for an undisclosed amount. Through this acquisition, CRYOPDP will expand its coverage in Europe and provide solutions to both global and local customers in Spain. Polar Expres is a Spain-based company that offers worldwide temperature-controlled shipping for biopharmaceutical and biological commodities.
North America was the largest region in the bio-pharmaceutical logistics market in 2022. The regions covered in the bio-pharmaceutical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the bio-pharmaceutical logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Scope
Markets Covered:
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $132.48 billion |
| Forecasted Market Value (USD) by 2027 | $192.67 billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Bio-Pharmaceutical Logistics Market Characteristics
3. Bio-Pharmaceutical Logistics Market Trends And Strategies
4. Bio-Pharmaceutical Logistics Market - Macro Economic Scenario
5. Bio-Pharmaceutical Logistics Market Size And Growth
6. Bio-Pharmaceutical Logistics Market Segmentation
7. Bio-Pharmaceutical Logistics Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Kuehne + Nagel International AG
- FedEx Corporation
- SF Express (Group) Co Ltd.
- DHL
- Kerry Logistics Network Limited
- AmerisourceBergen Corporation
- United Parcel Service of America Inc.
- DB Schenker
- Agility Public Warehousing Company K.S.C.P.
- C.H. Robinson Worldwide Inc.
- Ceva Logistics
- DSV A/S
- Nippon Express
- GEODIS
- Air Canada Cargo
For more information about this report visit https://www.researchandmarkets.com/r/84hamz
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