Market Trends of Biopharmaceutical Courier Industry
Immense Growth Projection for the Cold Chain Segment
Healthcare spending is increasing rapidly in the region due to an aging population and rising disposable income. This will continue to be a key factor for the future of global pharmaceutical and biotech companies.
The Asia-Pacific region is rapidly becoming a hub for outsourcing pathology testing, drug manufacturing, and clinical trials. This has increased the demand for temperature-sensitive healthcare products such as vaccines, biopharma, and clinical trial material. These changes have led to increased regional cold storage facilities and more investment in ongoing infrastructure improvements. Governments of various Asian nations are improving the healthcare cold chain logistics service. The growing demand for biopharma and vaccines that require cold chains is increasing. The pharmaceutical industry is expanding to meet the growing healthcare needs of an ever-expanding population.
Stricter government restrictions on handling temperature-sensitive pharmaceutical items are limiting market expansion. Consistency in operational processes, security, temperature, pest management, and expensive operational costs also limit market expansion.
North America is Emerging as a Key Player in the Market
The increasing number of chronic diseases and the growing investments in R&D activities in the United States drive North America's biopharmaceutical market. The US biopharmaceutical market is expected to grow due to the rising number of chronic diseases, well-established biopharmaceutical companies, and the growth of biotech companies.
The growing geriatric population and the increased R&D activity in the United States will also contribute to the growth of the biopharma market. According to the latest data from the Centers for Disease Control & Prevention (CDC), coronary heart disease (CHD) is the most prevalent heart disease in the United States, with approximately 22.3 million adults aged 20 and above suffering from it.
The CDC data also shows that every 40 seconds, around 9,58,000 people suffer from a heart attack in the United States in a year. The high number of patients suffering from cardiovascular diseases means that advanced drugs must be available to treat them.
