What is the global market size of Biopharmaceuticals Third Party Logistics 3pl Market?

Biopharmaceuticals Third Party Logistics 3pl Market size was valued at USD 119.8 billion in 2021 and is poised to grow from USD 125.8 billion in 2022 to USD 198.5 billion by 2030, growing at a CAGR of 5.9% in the forecast period (2023-2030).

Global Biopharmaceuticals Third Party Logistics 3pl Market Size, Share, Growth Analysis, By Supply chain(cold chain and non-cold chain), By Service type(transportation, warehousing and storage) - Industry Forecast 2024-2031

Report ID: SQMIG35C2014 | Region: Global | Published Date: February, 2024
Pages: 255 | Tables: 60 | Figures: 75

Global Biopharmaceuticals Third Party Logistics 3pl Market Insights

Biopharmaceuticals Third Party Logistics 3pl Market size was valued at USD 119.8 billion in 2019 and is poised to grow from USD 125.8 billion in 2023 to USD 198.5 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

Biopharmaceutical third-party logistics refers to logistics services provided by third-party organisations to pharmaceutical companies (3PL). Receiving small molecule pharmaceuticals into the warehouse, for example, as well as fulfilling orders and managing commodity inventory using a warehouse management system. For example, 3PL assists pharmaceutical and medical institutions in maintaining logistics for the delivery of medical therapies by reducing unnecessary overhead costs, ensuring continuous product supply, optimising transportation, and improving overall organisational efficiency. The pharmaceutical industry's rapid expansion is one of the primary reasons for the market's optimistic outlook. Furthermore, the growing trend of medical organisations outsourcing logistics to improve their distribution network is propelling market growth. Some of the key factors driving the market are the rising trend of outsourcing logistics, pharmaceutical companies' focus on their distribution network due to its strong sales numbers, and an increase in the number of biosimilar launches. The supply chain of the biopharmaceutical industry was disrupted by the coronavirus pandemic in 2019. The pharmaceutical and cold chain sectors were pushed to innovate during the COVID-19 vaccine development process, creating temperature-controlled packages to meet the needs of new deep-frozen COVID-19 vaccine storage and increased demand for existing supplies.

US Biopharmaceuticals Third Party Logistics 3pl Market is poised to grow at a sustainable CAGR for the next forecast year.

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The market is highly fragmented, with a large number of players. This fragmentation makes it difficult for major players to enter a few countries around the world. As a result, the big players are consolidating, which will allow them to accept modern technologies from small or regional players and expand their global presence. 'FedEx', ' DHL Supply Chain & Global Forwarding ', ' XPO Logistics ', ' UPS Supply Chain Solutions ', ' DB Schenker ', ' Kuehne + Nagel ', ' AmerisourceBergen ', ' CEVA Logistics ', ' Cardinal Health ', ' Expeditors International ', ' DSV Panalpina ', ' GEODIS ', ' NFI Industries ', ' Agility ', ' Penske Logistics ', ' Hellmann Worldwide Logistics ', ' Ryder ', ' Syncreon ', ' C.H. Robinson Worldwide ', ' CHAMP Cargosystems '

The growing demand for efficient logistics solutions that can safely transport temperature-sensitive medications is expected to drive the growth of the biopharmaceutical third-party logistics (3PL) market. The introduction of a wide range of biologics and biosimilars, all of which require temperature-controlled logistics service to be distributed, is expected to be the driving force behind the growth of the biopharmaceutical third-party logistics market. The increased adoption of automation in manufacturing facilities in an effort to reduce operational costs is driving demand for third-party logistics services. Furthermore, the rising prevalence of chronic diseases is driving up demand for biologics, which is fuelling the growth of the biopharmaceutical third-party logistics (3PL) market.

Companies are investing more money in R&D to develop efficient value-added services in order to meet the growing demand for advanced logistic services in the biopharmaceutical industry. Smart sensor technology refers to the technology that measures the ambient conditions inside the vehicle. DHL is able to improve its distribution network in part because of the implementation of technologically advanced devices.

North America's market was the most profitable and held the largest share in 2021, accounting for more than 42.0% of total revenue generated worldwide. This is primarily due to the region's dominance in the biologics and pharmaceutical medication markets, as well as an increase in the number of biopharmaceuticals shipped out of and brought into the region. Furthermore, due to the high cost of medical treatment, the region has a relatively high rate of adoption of various cutting-edge technologies.

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Global Biopharmaceuticals Third Party Logistics 3pl Market Size, Share, Growth Analysis, By Supply chain(cold chain and non-cold chain), By Service type(transportation, warehousing and storage) - Industry Forecast 2024-2031

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