Market Trends of Time Critical Healthcare Express Logistics Industry
Robust growth projections for pharmaceutical segment
The pharmaceutical market and research environment are growing rapidly in emerging economies like Brazil, China, and India. As a result, economic and research activity is gradually migrating from Europe to other emerging markets.
In 2022, North America represented 52.3% of global pharmaceutical sales, compared to 22.4% in Europe. IQVIA’s (MIDAS) May 2023 report shows that 64.4 percent of new medicines launched during the 2017-2022 period were sold in the US market, compared to 16.4 percent in the European market (the top 5 markets).
The EU pharmaceutical market is fragmented, which has led to parallel trade. This harms social security and patients and costs the industry more money to invest in research and development. In 2021, parallel trade was valued at EUR 6,280 million (USD 6741.99 Million) (ex-factory prices).
North America is emerging as a key player in the market
The North American region is expected to hold a significant market share due to the presence of key pharmaceutical manufacturers and the growing spending on the pharmaceutical industry. Moreover, increasing research and development expenditure, the growing burden of chronic diseases, and the increasing adoption of advanced pharmaceutical manufacturing technologies are further projected to support the regional market.
Moreover, the rising adoption of advanced pharmaceutical manufacturing technologies in the United States and increasing efforts from various pharmaceutical manufacturers to adopt novel production technologies are expected to drive the regional market growth. For instance, in January 2024, Enzene Biosciences, a CDMO, launched its first manufacturing site in the United States. The manufacturing site is integrated with a patented EnzeneX continuous manufacturing technology platform, and this is expected to serve innovative pharma and biopharmaceutical companies for their customized manufacturing requirements. Similarly, in December 2022, the US Pharmacopeia opened an advanced manufacturing technology lab in Richmond. This laboratory helped pharma manufacturers with advanced manufacturing technologies, including continuous pharma manufacturing, to accelerate their production capabilities. Thus, the increasing uptake of novel production technologies is projected to augment the regional market growth.
Furthermore, the United States is one of the top pharma outsourcing destinations for pharma companies, owing to the presence of a significant number of CROs, CMOs, and CDMOs. Thus, such trends are projected to bolster manufacturing activities in the country, thereby supporting regional market growth. For instance, according to Bioplan’s 2022 Annual Report and Survey of Biopharmaceutical Manufacturing Capacity and Production, the United States is one of the top outsourcing destinations for pharmaceutical and biopharmaceutical research and manufacturing, owing to the presence of several contract manufacturers in the country.
