Biopharmaceutical Third Party Logistics Market: North America Region Is Estimated To Dominate The Market During The Predicted Period 2019-2025

Today, it has become a norm in the biopharmaceutical industry to use efficient third party logistics services for on-time and accurate delivery of therapies and other treatments to medical clinics, pharmacies, physicians, and hospitals. Third party logistics can be extremely useful for biopharmaceutical companies to commercialize their therapies. It helps to carefully coordinate the fulfillment and distribution of products and assists biopharmaceutical companies throughout the entire product lifecycle. Biopharmaceutical third party logistics vendors provide an easy-to-access, seamless supply chain model that is beneficial for customers as well as patients.

In April 2019, the Pharmaceutical Distribution Security Alliance (PDSA), a US-based consortium of pharmaceutical supply chain partners, developed a proposed system for Drug Supply Chain Security Act (DSCSA) governance. The system comes with a suggested governance framework model for data generated in a traceability scheme that is scheduled to become operative in 2023. US medicine manufacturers and repackagers will need to mandatorily follow full unit level traceability laws, including aggregation, from November 2023. This means they will need to be connected to an interoperable data governance system allowing the traceability and verification of pharmaceuticals as transaction data is recorded and exchanged and unique codes are read.

Biopharmaceutical third party logistics companies have dedicated resources that support unique logistics requirements of customers. They offer daily program management for transportation, warehousing, and ordering needs, on-boarding services to forecast distribution outcomes, implementation planning services, and strategic execution, designing, and planning services for new drug distribution programs.

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Which are the top players of the global market

The authors of the report profile some of the prominent names in the global biopharmaceutical third party logistics market, such as FedEx., DHL International GmbH, SF Express, United Parcel Service of America, Inc., DB Schenker, AmerisourceBergen Corporation, KUEHNE + NAGEL, Agility, and Kerry Logistics Network Limited. The presence of a large number of companies is predicted to make the vendor landscape fragmented.

Which are the important segments of the global market

Segmentation by Supply Chain

● Cold Chain Logistics

● Non-cold Chain Logistics

Segmentation by Service Type

● Transportation

● Air Freight

● Sea Freight

● Overland Transportation

● Warehousing and Storage

● Others

Researchers predict non-cold chain logistics to attract the largest share of the global biopharmaceutical third party logistics market in terms of revenue. The rise in pharmaceutical sales via distributors is anticipated to push the market growth of non-cold chain logistics.

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