Rising Demand for Home Healthcare Products to Reflect Positively on Global Biopharmaceutical Logistics Market

With the significant growth in the biopharmaceutical sector, the global market for biopharmaceutical logistics market has been gaining significant impetus across the world. The augmenting demand for the home healthcare products is the key driver behind the growth of this market. In a bid to meet the ever-increasing demand from the pharmaceutical industry, vendors operating in this market have begun to introduce innovative and technologically advanced products, which is expected to reflect positively on this market in the years to come.

According to Transparency market Research (TMR), the opportunity in the global Biopharmaceutical Logistics Market was US$70.9 bn in 2015. The market is anticipated to proliferate at a CAGR of 6.20% between 2016 and 2024 and attain a valuation of US$120.7 bn by the end of 2024.

In this blog post, analysts at TMR answer a few important queries about the worldwide market for biopharmaceutical logistics:

What are the key factors that are influencing the performance of the global Biopharmaceutical Logistics Market?

The advent of the Cold chain carriers, together with the recent advancements in packaging technologies are boosting the global market for biopharmaceutical logistics significantly. The rise in the production and the consumption of biological drugs is also influencing the sales of biopharmaceutical logistics.

Over the coming years, the increasing production of targeted therapies, specifically developed as per the treatment requirements of a particular patient, is likely to fuel the demand for targeted logistics solutions, reflecting greatly on the market for biopharmaceutical logistics across the world. However, the high cost incurred in the transportation of biopharmaceuticals, specifically the temperature sensitive ones, may limit the adoption of biopharmaceutical logistics over the next few years to some extent.

Which of the geographical segments is anticipated to lead the global Biopharmaceutical Logistics Market in the near future?

Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa have surfaced as the main geographical sections of the global market for biopharmaceutical logistics. Europe and North America have been the dominant regional markets since the last few years and are anticipated to maintain their positions over the forthcoming years.

The high number of imports and exports of biopharmaceuticals and the introduction of advanced technologies for the improvement in warehousing and transportation in the supply chain are the key driving force behind the growth of the North America and Europe markets for biopharmaceutical logistics.

What are the strategies leading players adopt for their business expansion?

Established players, such as FedEx, AmerisourceBergen Corp., UPS, DB Schenker, and DHL, are investing heavily for the construction of production and servicing units across emerging economies to strengthen their presence. These players are also providing e-commerce, user-friendly shipping, and logistics management to enhance their visibility in the global market.


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