BIO-PHARMA LOGISTICS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Bio-Pharma Logistics Market Analysis:

The current size of the Bio-Pharma Logistics Market is valued at USD 82.3 billion and is projected to exhibit a Compound Annual Growth Rate (CAGR) of over 7.5% during the forecast period. The global demand for conventional and over-the-counter (OTC) drugs has increased significantly due to the COVID-19 pandemic. The biopharmaceutical industry has witnessed a surge in demand for cellular therapies, vaccines, and blood products, which has propelled the growth of the biopharmaceutical logistics market worldwide. The transportation of temperature-sensitive biologic drugs and vaccines through air transportation is the fastest and most reliable method, with minimal product damage.

In the first quarter of 2022, the biopharma industry experienced an overall revenue growth of approximately 16%, indicating a robust recovery from the pandemic. Twelve of the top 23 companies in the industry achieved double-digit growth, with the top five companies driven by significant sales of COVID-19 products, each exceeding a 50% revenue increase compared to the first quarter of 2021.

To ensure the safe and efficient transportation of time- and temperature-sensitive biopharmaceuticals, real-time visibility during all handling, transportation, and delivery segments is crucial. 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 transmitted includes temperature and time, exposure to light, pressure, vibration, humidity, tilt, and the number and duration of every open-door event, and is transmitted 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 map out more effective delivery routes and to pivot rapidly when disruptions arise.

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