Biopharmaceutical Third-party Logistics Market to Grow with a CAGR of 6.08% through 2028
Increase in the biopharmaceutical sector and increase
in the globalization of biopharmaceutical operations is expected to drive the
Global Biopharmaceutical Third-party Logistics Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Biopharmaceutical
Third-party Logistics Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Biopharmaceutical
Third-party Logistics Market stood at USD 125.91 billion in 2022 and is
anticipated to grow with a CAGR of 6.08% in the forecast period, 2024-2028. The
awareness among individuals regarding Biopharmaceutical Third-party Logistics
has led to favorable market conditions for the global Biopharmaceutical
Third-party Logistics market. Several factors contribute to the growth of
various Biopharmaceutical Third-party Logistics products.
The pharmaceutical industry is in a constant state of
evolution. Advancements in research, development, and manufacturing techniques
have given rise to a plethora of innovative biopharmaceutical products. These
breakthroughs often come with specific storage and transportation requirements,
such as temperature-sensitive products and stringent regulatory compliance. As
a result, biopharmaceutical companies are increasingly outsourcing their
logistics needs to specialize 3PL providers who possess the expertise and
infrastructure to ensure the safe and compliant delivery of these sensitive
products.
Global Biopharmaceutical Third-party Logistics Market
is driven by a convergence of factors that reflect the dynamic nature of the
biopharmaceutical industry. As pharmaceutical companies continue to innovate,
expand globally, prioritize regulatory compliance, and seek cost-efficient
solutions, the demand for reliable 3PL services will only intensify. The
strategic partnership between biopharmaceutical companies and 3PL providers is
poised to play a pivotal role in shaping the future of the industry, which will
further fuel market growth.
In November 2023: SF Express expanded its
international network by opening new branches in the United States, Canada, and
Mexico. The company also launched new international shipping routes to Europe
and South America.
Biopharmaceutical Third-party Logistics serve as
hormones, coenzymes, and antioxidants, all of which are vital for proper bodily
functions. Factors such as evolving dietary preferences, busy lifestyles,
increased employment levels, and growing awareness of the health benefits of Biopharmaceutical
Third-party Logistics are expected to positively impact the global Biopharmaceutical
Third-party Logistics market.
In today's fast-paced world, speed can be a matter of
life and death. Patients often depend on timely access to critical medications,
vaccines, and biologics. Biopharmaceutical 3PL providers are experts in
streamlining logistics processes. They excel in rapid order fulfillment, ensuring
that pharmaceutical products reach their destinations swiftly and efficiently.
This speed is vital for emergency situations and for meeting tight delivery
schedules, especially in the case of perishable or time-sensitive medications. In
a fast-paced world where biopharmaceutical companies operate on a global scale,
3PL providers offer the necessary infrastructure and expertise for
international distribution. They have access to extensive networks of
transportation and warehousing facilities, allowing for the rapid movement of
products across borders. This global reach ensures that life-saving drugs can
reach patients worldwide quickly, even in remote or underserved regions. Many
biopharmaceutical products, such as vaccines, biologics, and certain drugs, are
highly sensitive to temperature variations. Biopharmaceutical 3PL providers
specialize in cold chain logistics, which involves maintaining precise
temperature control throughout the supply chain. This expertise ensures that
temperature-sensitive products remain effective and safe, even during
long-distance transportation. In a fast-paced world, where products need to be
delivered quickly, maintaining temperature integrity is essential. The
biopharmaceutical industry operates under stringent regulatory standards.
Biopharmaceutical 3PL providers are well-versed in these regulations, including
Good Distribution Practices (GDP) and Good Manufacturing Practices (GMP). They
have the knowledge and processes in place to ensure strict compliance, which is
critical for delivering products without delays or regulatory issues.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Biopharmaceutical Third-party Logistics Market.”
The biopharmaceutical industry has witnessed
remarkable growth and innovation. This rapid expansion has led to an increased
demand for efficient and reliable logistics solutions to handle the intricate
needs of the sector. Biopharmaceutical companies are increasingly turning to
third-party logistics (3PL) providers to navigate the complex supply chain
challenges they face. In this comprehensive article, we delve into the four
major drivers propelling the growth of the Global Biopharmaceutical Third-party
Logistics Market.
In recent times, the urgent need for vaccine
distribution, as seen during the COVID-19 pandemic, has highlighted the
importance of Biopharmaceutical 3PL. 3PL providers have played a pivotal role
in ensuring the efficient and timely delivery of vaccines to global
populations, contributing to global vaccination efforts. The biopharmaceutical
industry has evolved rapidly, introducing complex supply chain challenges. Biopharmaceutical
3PL providers specialize in managing these complexities, from temperature-sensitive
products to regulatory compliance, ensuring smooth operations. Biopharmaceutical
companies operate on a global scale, necessitating logistics solutions that can
seamlessly handle international distribution. 3PL providers have the global
networks and expertise required to manage the intricacies of cross-border
transportation and compliance. However, the Regulatory Complexity and
Compliance Challenges may hinder market growth. Moreover, challenges related to
Temperature and Security Risks and Supply Chain Disruptions and Resilience may
pose obstacles to the Biopharmaceutical Third-party Logistics market in the
near future.
The Global Biopharmaceutical Third-party Logistics
Market is segmented into type, application, source, form, distribution channel,
regional distribution, and company.
Based on its formulation, the tablets segment has
emerged as the predominant market leader, as adults worldwide prefer the
convenience of consuming Biopharmaceutical Third-party Logistics in tablet
form. While the addition of natural coatings enhances dissolution, factors such
as efficacy and quality play a crucial role in absorption. These elements are
expected to drive the demand for tablet-based Biopharmaceutical Third-party
Logistics throughout the forecast period. Tablets offer one of the most
convenient ways to consume these supplements, available for both prescription
and over-the-counter use, with a wide range of Biopharmaceutical Third-party
Logistics options. However, there is a projected faster growth rate for Biopharmaceutical
Third-party Logistics gummies during the forecast period, as they are
increasingly favored by the elderly and children due to their soft texture and
diverse flavors. Tablets remain the most widely used and cost-effective type of
Biopharmaceutical Third-party Logistics, enabling manufacturers to maximize
dosage within a given space while also boasting a longer shelf life compared to
capsules. Softgels, powder, and capsule forms of Biopharmaceutical Third-party
Logistics are also expected to experience significant growth during the
forecast period. It is worth noting that capsule forms rank as the second most
consumed type of supplement globally.
Based on region, North America segment is expected to
grow during the forecast period. The commanding position can be
attributed to North America's supremacy within the biologics and pharmaceutical
drugs sector, as well as the uptick in biopharmaceutical imports and exports.
Furthermore, owing to the region's robust healthcare expenditure, the adoption
of cutting-edge technologies has reached remarkable levels. Consequently, North
American pharmaceutical firms are increasingly entrusting third-party logistics
(3PL) service providers to enhance their warehousing and transportation
capabilities, a trend that is propelling regional growth.
The Asia-Pacific market is poised to be the
fastest-growing market, offering lucrative growth opportunities for
Biopharmaceutical Third-party Logistics players during the forecast period.
Factors such as The rapid growth of the pharmaceutical sector can be attributed
to several key factors. Firstly, there is an increasing demand for medications,
particularly driven by the aging population. Simultaneously, the adoption of
advanced healthcare services and favorable economic conditions in emerging
markets like China and India have played a pivotal role in driving this growth
trajectory. Also, a notable trend on the horizon is the impending expiration of
numerous drug patents. This development is expected to lead to a significant
shift in drug sales, transitioning from original brand manufacturers to generic
counterparts. Consequently, this shift is poised to have a positive impact on
pharmaceutical product sales as well as import and export activities within the
industry. The rising incidence of various diseases is fueling the demand for
biologics and pharmaceuticals. For example, the Asia Pacific region has
witnessed a surge in demand for insulin, primarily due to the increasing number
of patients diagnosed with type 2 diabetes. This underscores the growing need
for essential medications in the pharmaceutical market.
Major companies operating in Global Biopharmaceutical
Third-party Logistics Market are:
- DHL International GmbH.
- SF Express Co.
- United Parcel Service of America, Inc.
- AmerisourceBergen Corporation
- DB Schenker
- Kuehne and Nagel AG
- Kerry Logistics Network Ltd.
- Agility Co
Download Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Personalized Medicine and Biologics and
increasing Sustainability Initiatives are key drivers of the Biopharmaceutical
Third-party Logistics market. In recent years, the rowth of personalized
medicine and biologics demands specialized logistics solutions to cater to the
unique requirements of these therapies. Moreover, the growing consumer emphasis
on preventative healthcare products has enhanced production and marketing
efforts. To meet the demands of the market, manufacturers are increasingly
incorporating cutting-edge technologies with high production efficiency. Rising
consumer acceptance and continuous product innovation will further ensure the
growth of the Biopharmaceutical Third-party Logistics and supplements market in
the coming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Biopharmaceutical Third-party Logistics Market –
Global Industry Size, Share, Trends, Opportunity, & Forecast 2018-2028
Segmented By Supply Chain (Cold Chain, Non-cold Chain), By Service Type
(Transportation, Warehousing & Storage, Other), By Region, Competition”, has evaluated
the future growth potential of Global Biopharmaceutical Third-party Logistics
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Biopharmaceutical
Third-party Logistics Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States-
10170
Tel: +13322586602
Email: [email protected]
Website: www.techsciresearch.com