IMARC Group’s latest report titled, “Global Healthcare Cold Chain Logistics Market Report and Forecast (2016-2020)” finds thatthe global biopharmaceuticals market was worth US$ 136 Billion in 2014 and is expected to experience a healthy growth rate in the future. According to the report, the key factors that contributed to the growth of the biopharmaceuticals industry are the significantly higher potency and efficacy of biopharmaceuticals compared to small molecule drugs, the ability of these products to be tailored as per the individual needs of a patient, higher approval success rates and significantly higher cost of therapy compared to traditional medications.
The report finds that most biopharmaceuticals are protein based drugs and highly sensitive to temperature changes. As such, these drugs are recommended to be stored and transported at temperatures ranging from 2°- 8°C. Any excursions in their ideal storage or transportation temperatures can disrupt their protein structure and make them ineffective. This has created a huge demand for efficient cold chain logistics services in the biopharmaceuticals industry. According to the report, the key factors driving the market for biopharmaceutical cold chain logistics services are the entry of biosimilars or generic versions of biological drugs which have already been launched in the US, Europe and other major healthcare markets, the increase in outsourcing trends of biopharmaceutical manufacturing to offshore locations and the fact that biopharmaceutical manufacturing plants are concentrated in a few regions and their end-use markets diversified across the globe.
The report has analysed the opportunities for cold chain logistics services not only in the biopharmaceutical industry but also in the clinical trial materials and vaccines industries. This report also gives an insight into the market trends, market segments, regional breakup, challenges, global trade scenario and the key players in the global healthcare cold chain logistics industry. The report, which is based on both desk based research and multiple waves of primary research is a must read for anyone who plans to venture into the healthcare cold chain logistics services industry.
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