ALBANY, New York, May 8, 2017 /PRNewswire/ --
The threat of competition witnessed by players operating in the global Biopharmaceutical Logistics Market is forecast to remain from moderate to high. According to a new study by Transparency Market Research (TMR), the prevailing competitive trends is unlikely to change between 2016 and 2024. However, the intensity may reduce over time as established players focus on innovating region-specific services.
In 2015, the top five companies comprising AmerisourceBergen Corporation, DB Schenker, UPS, FedEx, and DHL held the dominant share of 31% in the global biopharmaceutical logistics market. Aiming at expanding their regional footprint, several of the established players are investing in construction of facilities across emerging nations. Also to make their foothold stronger, the leading market players are providing user-friendly shipping, e-commerce, logistics management, and visibility tools.
Considering the strategies undertaken by the players in a dynamic business environment, experts predict positive outlook for the global biopharmaceutical logistics market. According to TMR, the global biopharmaceutical logistics market will reach US$120.7 bn, exhibiting a CAGR of 6.2% between 2016 and 2024. In 2015, the market was valued at US$70.9 bn. Based on type, the market can be bifurcated into cold chain logistics and non-cold chain logistics. Of these, the non-cold chain logistics segment held the leading share of 80% in the global market in 2015. Regionally, North America emerged dominant with a share of 32.9% in the global market in 2015.
Sound Know-how of Logistics Providers to Create Growth Opportunities for Market
Many logistics providers are making positive strides in the market and are seen enhancing their regional and local presence and expertise. These companies have sound knowledge and a strong network of local contacts. The sound know-hows of logistics providers can help in reducing challenges for pharmaceutical companies especially those running critical trials in emerging markets, or shipping in politically and legally difficult zones. This is also driving the expansion of the global biopharmaceutical logistics market.
Cold chain carriers have considerably invested in devices built into refrigeration units to monitor location and temperature aimed at meeting industry demands. The technology has also enabled drug manufacturers to access relevant data in real time. It also offers increased visibility and the opportunity to prevent or mitigate loss of a critical shipment. The advent of the technology, coupled with recent innovations in packaging has provided significant impetus to the biopharmaceutical logistics market. Also with the increasing manufacture and usage biological drugs, the demand for biopharmaceutical logistics is expected to get spurred.
Inquire for a sample copy of this Report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=23858
High Cost of Transporting Biopharmaceuticals Poses Threat
On the downside, the cost of transporting biopharmaceuticals, especially the ones that are temperature sensitive and need rapid delivery to destinations, is very expensive. As with companies opting for air transport, they claim air shipping to cost considerably higher than transporting by sea. As fast shipping of highly temperature sensitive biopharmaceuticals is only possible by air transport, it has emerged as a major challenge for the market players. Also regulatory concerns and region-specific temperature control challenges are posing threat to the global biopharmaceutical logistics market.
Advent of Targeted Therapies to Pave Way for Growth
The world of medicine has witnessed a new wave of targeted therapies, which are designed as per the treatment needs of a particular patient. Therefore, the demand for targeted logistics solutions is expected to gain pace as therapies and drugs evolve to meet demands of more targeted approach. These developments are likely to help the market emerge out of the aforementioned challenges. Besides this, advent of innovative solutions aimed at mitigating challenges in clinical trial supply chain is likely to aid the market's expansion in the coming years.
Information that this review is based on is derived from a TMR report, titled "Biopharmaceutical Logistics Market (Type - Cold Chain Logistics and Non-cold Chain Logistics; Mode of Transportation - Air Shipping, Sea Shipping, Road Shipping, and Rail Shipping; Service -Transportation and Warehousing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
The report segments the global biopharmaceutical logistics market as:
Global Biopharmaceutical Logistics Market, by Type
- Cold Chain Logistics
- Non-cold Chain Logistics
Global Biopharmaceutical Logistics Market, by Mode of Transportation
- Air Shipping
- Sea Shipping
- Road Shipping
- Rail Shipping
Global Biopharmaceutical Logistics Market, by Service
Global Biopharmaceutical Logistics Market, by Geography
- North America
- Asia Pacific
- Rest of APAC
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Browse Related Research Report:
Pharmerging Market (Product Type - Pharmaceuticals (Branded Prescription Drugs, Generic Drugs (Branded Generics, Unbranded Generics, and OTC Drugs) and Healthcare (Medical Devices, Diagnostic Instruments, and IT and Record Management); Economic Growth Levels - Tier - 1, Tier - 2, and Tier - 3; Indications - Lifestyle Diseases, Cancer and Autoimmune Diseases, and Infectious Diseases; Distribution Channel - Hospitals, Clinics, Retail Pharmacies, E-commerce, and Drug Stores) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Bio-Pharmaceutical Logistics Market - Global Industry Analysis, Size, Share, Trends and Forecast 2016 - 2024
Pharmacy Repackaging Systems Market (Product - Blister Card/Compliance Packaging Systems (Multi Dose Blister Card Packaging Systems, Single Dose Blister Card Packaging Systems, Heat Sealers, and Deblisters Machines), Pouch Packaging Automation Systems (Automatic Tablet Packager and Pouch Verification System), Bottle Filling/ Pill Counting Automation Systems (Automated Bottle Filler and Pill Counter), and Liquid Medication Packaging Systems (Oral Liquid Filling Syrup and Automated Vial Filling Pump) ; End User - Retail/Community Pharmacy, Hospital Pharmacy, Long-term Care (LTC) Pharmacies, and Mail Order Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
SOURCE Transparency Market Research