16 September 2020
Visiongain has published a new report on Healthcare Cold Chain Logistics Market Report: Forecasts by Product (Biopharmaceuticals, Clinical Trial Materials, Vaccines, and Others), by Packaging (Service, Storage, Transportation, and Others), by Storage Technique (Refrigeration, Dry Ice, Gel packs, Liquid Nitrogen and Others) and by Region (North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa) PLUS Profiles of Leading Healthcare Cold Chain Logistics Companies.
Global Healthcare Cold Chain Logistics market was valued at US$ x billion in 2020 and is projected to reach at a market value of US$ xx billion by 2030. The growth of this market is majorly driven by increasing sales of temperature sensitive pharmaceutical products, longer life expectancy and rising geriatric population are some of the prominent factors. In addition, rising technological advancements, rising demand of personalised medicine and increasing research and development activities are the other factors that support the global healthcare cold chain logistics market.
COVID-19 Impact on Global Healthcare Cold Chain Logistics Market
The current pandemic has also significantly impacted the global supply chain of healthcare industry. The pharmaceuticals industry has a large number of moving raw materials and products in their supply chain compared to other industries. Owing to the rising prevalence of the coronavirus globally there is a surge in the demand for various pharmaceuticals and healthcare products. Thus, the global healthcare cold chain logistics market has witnessed a dip in 2020 due to sudden lockdown in many of the countries, as the supply of the materials and products was disrupted for some time. However, with rising demand for pharmaceutical products globally the market for healthcare cold chain logistics will gradually be stable and the market would gain be on pace in some time in near future.
Biologics - and other sensitive drugs - need temperature-controlled storage and transport, which are higher cost and more time-sensitive than storage and transport for conventional drug types. With stratified patient populations and personalised medicine, distribution networks become more complex. There are more patient samples to be transported to central laboratories as a result of stratification testing, for example, and some personalised therapies - such as regenerative medicine products - need manipulation of patient samples at specific sites away from the clinical trial location. Thus, increasing biological therapies would propel the growth of healthcare cold chain logistics market in near future.
Clinical trial globalisation continues to drive the market growth of healthcare cold chain logistics, stimulating demand for international distribution services. Increased development of less-stable products, such as biologics and other potent drugs, increased demand for planning that overcome risks of delays and damages. In addition, improved infrastructure in emerging national markets would stimulate off-shoring of trials there. Although supply chains to large population centres there are established, reaching secondary cities in these markets currently poses problems, particularly for drugs that must be stored and transported under temperature-controlled conditions.
Trends in drug development offer opportunities for healthcare cold chain logistics service providers. The increased development of biological drugs will drive demand for cold chain distribution services. Biologics account for around a third of pharmaceutical pipelines - this proportion will rise strongly in the coming 10 years. Although the majority of these new biologics are being developed in the US and EU, companies will look to take advantage of low-cost clinical trials in emerging markets, demanding long and complicated cold chain distribution for trial materials. Other drug development trends include the increased development of highly potent, targeted drugs for chronic indications, such as cancer. The increased development in drugs for orphan diseases although not as large in scale will also open the opportunities to smaller service providers.
Drug developers would look for logistics companies with experience in all leading trial destinations - including expertise in customs regulations and distribution to remote trial sites in emerging markets. Using global market players will simplify the supply chain network for drug developers. Using CROs that offer both trial and supply chain management services will also meet the demand for simplified outsourcing networks. Companies will increasingly look to outsource trial supply and logistics to take advantage of new market expertise and lower overall costs.
Some of the prominent players operating in this market segment are DHL, World Courier, UPS, DB Schenker, Kuehna+Nagel, FedEx and others. These key players offer a broad range of services in the healthcare cold chain logistics market and have a global reach and presence. The other players operating in the market are XPO Logistics, CEVA, Ryder, DSV, Hitachi Transport Systems and others. The companies are focusing on creating awareness among the population regarding the recent pandemic of COVID-19. For instance, in January 2020 World Courier integrated its two businesses, World Courier, a global logistics provider, and ICS, a third-party logistics (3PL) provider, creating one of the first and only specialty logistics provider that delivers a complete support to the clinical trials through commercialisation.
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As lockdowns were imposed in all the countries, diagnosis rates went down in majority of countries during the year hitting the drug sales for some period. Although lockdown measures have been eased up in most countries by mid-year 2020, this trend is expected to continue beyond 2020, stock up of medicines by patients is likely to propel the drug sales in majority of the developed economies, which account for majority of rare diseases.
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