Bio-pharma logistics involves the secure transportation of temperature-sensitive pharmaceutical drugs, biologics, vaccines and clinical trial materials. It requires adherence to storage conditions such as controlled temperatures, humidity levels and shipment conditions in order to maintain the quality, safety and efficiency of these treatments. With the increasing demand for biopharmaceuticals, biosimilars and vaccines, bio-pharma logistics plays a crucial role in distributing these life-saving products to patients efficiently and securely. The global Bio-pharma Logistics Market is estimated to be valued at US$ 100.2 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the bio-pharma logistics market is the rising demand for secure transportation of temperature-sensitive drugs and medical products. With the increasing complexity of drug development and stringent regulations surrounding cold chain shipment of pharmaceuticals, logistics providers are focused on new transportation technologies and digital solutions to ensure real-time monitoring and secure handling throughout the supply chain. For example, many companies are utilizing IoT sensors, RFID tags, telematics and blockchain to obtain product condition data during transit and address issues immediately if any temperature excursions occur. This is helping bio-pharma logistics providers deliver products safely while maintaining compliance.
Segment Analysis
The global bio-pharma logistics market is segmented based on type, service and application. The type segment is further segmented into cold chain logistics and non-cold chain logistics. Among these, the cold chain logistics segment dominates and accounts for around 60% share of the global market. This is because cold chain logistics helps maintain the required temperature conditions for transportation of temperature sensitive pharmaceutical products and ensure product efficacy and safety.
Key Takeaways
The Global Bio-Pharma Logistics Market Size is expected to witness high growth over the forecast period of 2023 to 2030, driven by increasing demand for pharmaceutical products worldwide and stringent transportation and storage requirements for temperature sensitive drugs and vaccines. Regional analysis: The North American region currently dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to presence of major pharmaceutical companies and stringent regulations regarding pharmaceutical logistics in countries like the US and Canada. Key players operating in the bio-pharma logistics market are DHL, FedEx, UPS, DB Schenker, Kuehne + Nagel, SF Express, Kerry Logistics, Agility Logistics, VersaCold Logistics Services, Marken, Air Canada Cargo, CEVA Logistics, Sofrigam, Nordic Cold Storage, Biocair, United Parcel Service, Cavalier Logistics, LifeConEx, AirBridgeCargo Airlines, World Courier.
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https://healthcarelatesteditionnews.blogspot.com/2023/12/the-global-bio-pharma-logistics-market.html
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