Pharmaceuticals Logistics Market Insights As Per TBRC’s Latest Report
Added: (Thu Jan 03 2019)
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Pharmaceutical drugs and biologics logistics' covers the physical movement of pharmaceutical and biologic drugs from the manufacturer to the end-user. It includes the transportation, warehousing, inventory management and other logistics functions. The market consists of those pharmaceutical drugs and biologics logistics that are outsourced to logistics companies instead of handled in-house by the pharmaceutical companies.
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The global pharmaceutical drugs and biologics logistics market grew from $70 billion in 2013 to around $80 billion in 2017 at a compound annual growth rate (CAGR) of more than 3%. It is expected to grow from $80 billion in 2017 to near about $100 billion in 2021 at a CAGR of around 4.5%.
The pharma logistics market is segmented into Cold-Chain Logistics and Non-Cold Chain Logistics. Cold chain logistics refers to the management of temperature-sensitive products as they move through the distribution chain. Major products that require refrigeration include biologics, vaccines, insulin, products derived from blood or plasma, and testing reagents whereas Non cold chain logistics refers to the transport of pharmaceutical products without the need for temperature control and refrigeration. Most of the drugs in the pharmaceutical industry are transported from manufacturer’s site to the end customer by means of non-cold chain logistics services.
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Non cold chain logistics was the largest segment in the pharmaceutical drugs and biologics logistics market, accounting for more than 80% of the market. The segment was worth more than $65 billion. This was mainly because a majority of pharmaceutical drugs do not require temperature control and are shipped as general cargo. Temperature control solutions are costly to implement and thus companies are reluctant to adopt these practices.
Cold chain logistics had the highest CAGR of more than 6.5% during 2013-2017. This segment is expected to grow at a CAGR of around 9% during 2017-2021. This is attributed to the changing trends and technological advancement in pharma logistics industry.
Pharmaceutical logistics companies included in the report are Deutsche Post DHL Group, FedEx Corporation, Panalpina World Transport (Holding) Ltd, Kuehne + Nagel, and DB Schenker.
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