At ALLpaQ, we boast an unwavering commitment to quality – not only in our products but also in our people. […]
Dec 05th, 2023
Dec 05th, 2023
Biopharma Cold Chain Sourcebook, an annual magazine published by Pharmaceutical Commerce, revealed 2017’s statistics of the pharmaceutical cold-chain logistic industry – and the future is looking very positive indeed.
The 2017 report forecasts that the cold chain logistic industry, which currently totals $13.4 billion, will have an overall market growth of 38% between 2015 – 2021.
“The growth of temperature-controlled products is continuing at more than double the rate of non-temperature-controlled products, indicating that the cold chain business will continue to grow healthy”. – Biopharma Cold Chain Sourcebook 2017
The editor of Pharmaceutical Commerce, Nick Basta, noted that the industry has only seen moderate growth in freight transportation costs. It is reported that freight transportation comprises of around 70% of cold chain logistics costs, which has the effect of a slower overall growth rate in cold chain logistics spending by biopharma.
Today, the global pharma industry is worth an estimated $1.2 trillion, and between 2015 and 2021 that is due to rise by 41%. Within that, products that require refrigerated storage and transport are worth around $283 billion, and will rise 70% between over the same span, while non-refrigerated products are projected to rise by about 32%.
Read the full overview here