Biopharmaceutical Third Party Logistics (3PL) Market Size, Share and Growth Forecast by Regions 2021-2025

Posted on 2021-06-10 by researchinsights in Transportation & Logistics // 0 Comments

San Jose, California , USA, June 10, 2021 — /EPR Network/ —

The scope of the global Biopharmaceutical Third Party Logistics (3PL) Market was appreciated at US$ 86.37 billion in 2018. The range is projected to touch US$ 120.64 billion by 2025, growing at a CAGR of 4.9% for the duration of the forecast.

Biopharmaceutical third party logistics refers to transportation of medicines from place to another using advanced vehicles. These vehicles are specially designed to automate temperature management and to reduce possibilities of human errors during transportation. Pharmaceutical products are temperature sensitive and require continuous monitoring through tracking devices. Thereby, pharmaceutical companies are using all sort of technologically advanced devices to form effective distribution network.

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Rising demand for effective logistics system to safely transport temperature sensitive medicines is anticipated to propel biopharmaceutical 3PL market growth. Advent of wide range of biologics and biosimilar which require temperature controlled logistic service for distribution is expected to impel biopharmaceutical third party logistics market growth. Growing adoption of automation in manufacturing facilities to reduce operational costs is driving demand for third party logistic services. In addition, rising demand for biologics owing to growing prevalence of chronic diseases is contributing well to biopharmaceutical third party logistics (3PL) industry growth. Moreover, growing environmental concerns among pharmaceutical companies to reduce carbon footprint will drive the market over the forecast period.

To cater to rising demand for advanced logistic services in biopharmaceutical industry, companies are investing in R&D to develop effective value added services. For instance, in 2018, DHL installed near field communication (NFC) based internet of things (IoT) devices in vehicles to record information using mobile applications. Smart sensor technology measures environmental conditions inside the vehicle and upload this information on mobile application called LifeTrack. Implementation of such technologically advanced devices is supporting DHL in improving their distribution network.

Biopharmaceutical Third Party Logistics Supply Chain Outlook (Revenue, USD Million, 2014 – 2025)

Cold Chain
Non-cold Chain

Biopharmaceutical Third Party Logistics Service Outlook (Revenue, USD Million, 2014 – 2025)

Transportation
Air Freight
Sea Freight
Overland
Warehousing and Storage
Others

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Some of the key players in the biopharmaceutical third party logistics market are United Parcel Service of America, Inc; DHL International GmbH.; SF Express; AmerisourceBergen Corporation; and DB Schenker. The market is fragmented owing to presence of large number of companies. This fragmentation is likely to restrict big companies from penetrating into new regions across the globe. Thereby, big market players are adopting advanced technologies from small scale companies to expand their business.

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