“Ocean Carriers Eye Pharma Growth Market”

The pharmaceutical industry is seen as a promising growth market for ocean carriers as shippers prioritize cost and emissions concerns. However, the specific requirements for temperature-sensitive and time-sensitive shipments may limit the amount of market share that ocean carriers can capture in this sector. The demand for cold-chain transportation and precision logistics services is rapidly increasing, especially for biologic drugs that require strict temperature monitoring.
Transport Intelligence’s global freight forwarding survey indicates that pharmaceuticals rank third in offering volume growth potential in sea freight over the next five years. While ocean carriers are eager to tap into this lucrative market and establish themselves as key movers of pharmaceutical products, they face challenges such as limited temperature ranges of reefer containers and emerging manufacturing locations not conducive to ocean transport.
Despite the cost and emission-saving benefits offered by ocean transport, there are logistical hurdles that make it difficult to compete with airfreight. The healthcare logistics market is expected to grow, and even capturing a small portion of this market could lead to significant revenue for ocean carriers. While airfreight remains a primary mode of transport for pharmaceuticals, a multimodal approach combining air and sea transport could provide resilience in supply chains.
Overall, the shift from air to ocean transport in the pharmaceutical industry is growing, but certain products with sufficient stock and planning are more suitable for ocean freight. Close partnerships with multiple logistics providers and multimodal transport solutions, such as sea-air logistics, are key for reducing emissions and costs compared to pure air freight.