Market Size of Bio-Pharma Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bio-Pharma Logistics Market Analysis
The size of the Bio-Pharma Logistics Market is USD 82.3 billion in the current year and is anticipated to register a CAGR of over 7.5% during the forecast period.
- With the COVID-19 pandemic, the conventional and over-the-counter (OTC) drug trade increased globally. The expansion in demand for cellular therapies, vaccines, and blood products in the biopharmaceutical industry is driving the growth of the biopharmaceutical logistics market worldwide. Extending cold chain logistics via air transportation is the fastest shipping of pharmaceutical products with negligible product damage. It is highly desired for transporting temperature-sensitive biologic drugs and vaccines.
- With overall revenue growth of roughly 16% in the first quarter of 2022, the biopharma industry continued its thorough recovery from the pandemic. Twelve of the industry's top 23 companies achieved double-digit growth, with the top five all fueled by huge sales of COVID-19 products, each exceeding a 50% revenue increase compared with the first quarter of 2021.
- Improved real-time visibility during all handling, transportation, and delivery segments keeps costs low and reliability high while helping time- and temperature-sensitive biopharmaceuticals to go the distance without incident. Many specialized third-party logistics (3PL) providers in the pharma cold chain can track and transmit data using next-generation solutions, smart-label technology, and other monitoring advances. The data is related to temperature and time, exposure to light, pressure, vibration, humidity, tilt, and the number and duration of every open-door event, and transmit the data via cloud-based platforms. Today, such monitoring systems can be applied to cargo containers, individual pallets, and even individual product packages whenever necessary. Modeling based on real-time and historical data is helping companies to both map out more effective delivery routes and to pivot rapidly when disruptions do arise.
- To meet the demand, UPS Healthcare mapped roughly 500 new trade lanes worldwide in 2021 and scaled dry ice production, using more than 3 million pounds to help safely move the vaccines in 2021.
