MARKET INSIGHT: Biostorage Services Report July 2023
This Market Insight report takes a comprehensive look at how contract manufacturers are adapting to ever colder conditions, all presented in a digestible format.
- The pharma industry suffers losses of $35 billion on an annual basis due to failures in temperature-controlled logistics and storage, which is why biostorage services have a strong value proposition.
- On-shoring supply chain initiatives have been fueled by both supply chain disruption and government interaction amid drug shortages, causing companies to shift away from just-in-time inventory and hold increased inventory levels.
- Significant M&A of late-stage biotechs, instead of research and development spending by big pharma, could dampen the demand for biostorage services that are highly correlated with the success of CDMOs and their development services.
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