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According to The Business Research Company’s research report on the pharmaceutical drugs and biologics logistics market, the coronavirus outbreak that has taken over the world has had a mixed impact on the pharma logistics market. The supply chain restrictions resulting from the COVID-19 pandemic have impacted the biologics logistics industry. However, the need for the supply of essential pharmaceuticals during the COVID-19 pandemic is having a positive impact on the market and is expected to drive the market while the pandemic continues. The specific requirements needed to store and transport pharmaceuticals and vaccines makes the pharmaceuticals and biologics logistics complex.
During the crisis, several initiatives taken by the leading players in the industry and collaborations between the pharmaceutical and biologics logistic players and pharmaceutical players has supported the growth of market. Government intervention to speed up the process of COVID-19 testing and initiatives to supply essential pharmaceuticals to the patients during the pandemic has positively impacted the market as well.
The global pharmaceutical drugs and biologics logistics market size reached a value of nearly $90.30 billion in 2020, having increased at a compound annual growth rate (CAGR) of 4.1% since 2015. The market is expected to reach $102.89 billion by 2025, and $130.03 billion by 2030. North America was the largest region in the global pharmaceutical logistics market, accounting for 47.9% of the total in 2020. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the pharmaceutical drugs and biologics logistics market will be South America and Africa, where growth will be at CAGRs of 6.0% and 4.6% respectively.
The Business Research Company’s report titled Pharmaceutical Drugs And Biologics Logistics Market - Opportunities And Strategies – Global Forecast To 2030 covers major pharmaceutical drugs and biologics logistics companies, pharmaceutical drugs and biologics logistics market share by company, pharmaceutical drugs and biologics logistics manufacturers, pharmaceutical drugs and biologics logistics infrastructure market size, and pharmaceutical drugs and biologics logistics market forecasts. The report also covers the global pharmaceutical drugs and biologics logistics market and its segments.
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The increasing demand for temperature-sensitive biopharmaceutical products such as vaccines and blood plasma products is expected to drive the market for pharmaceutical drugs and biologics logistics. This is especially the case now that the COVID-19 vaccine is being distributed. Many pharmaceutical products are temperature-controlled and a small fluctuation in temperature/ventilation due to irregular electricity supply can cause damage to the cargo. This results in the need for temperature-controlled or cold chain transportation. In addition, an increasing supply of drugs from drug manufacturers will also increase the demand for logistics services. In March 2020, LGM Pharma stated that biopharmaceutical products are expected to account for nearly 50% of the value of the top 100 global pharmaceutical products this year. In terms of logistics, biopharmaceuticals are more demanding, and require precise temperature control across the entire supply chain from manufacturer to patient. That would mean multiple changes in control from truckers and carriers, through forwarders and agents, to distributors and pharmacies. With the evolution of manufactured drugs, the need for temperature control in the supply chain has increased. Increasing manufacturing of biologics and biosimilars is also expected to add to the pharmaceutical drugs and biologics logistics market growth.
Pharmaceutical Drugs And Biologics Logistics Market - By Type (Cold-Chain Logistics And Non-Cold Chain Logistics), By Mode Of Transport, By Therapeutic Area And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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