Press release
Biopharmaceutical Third Party Logistics Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
The Business Research Company offers in-depth market insights through Biopharmaceutical Third Party Logistics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The biopharmaceutical third-party logistics market size has grown strongly in recent years. It will grow from $131.23 billion in 2023 to $140.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to globalization of pharma supply chains, stringent regulatory requirements, rise in biopharmaceuticals, focus on cold chain logistics.
The biopharmaceutical third-party logistics market size is expected to see strong growth in the next few years. It will grow to $184.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to personalized medicine growth, biologics and biosimilars expansion, supply chain digitalization, regulatory compliance complexity, covid-19 impact. Major trends in the forecast period include on-demand logistics solutions, sustainability in logistics, last-mile delivery solutions, pharma serialization and traceability, autonomous logistics.
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Market Segmentation:
The biopharmaceutical third-party logistics market covered in this report is segmented -
1) By Supply Chain: Cold Chain, Non-Cold Chain
2) By Service: Transportation, Warehousing And Storage, Other Services
3) By End-User: Pharmaceutical And Biopharmaceutical Companies, Medical Device Companies, Hospitals And Clinics, Other End-Users
Major Driver - Outsourcing Logistics Drives Growth In Biopharmaceutical 3Pl Market
The rising trend of outsourcing logistics is expected to drive the growth of the biopharmaceutical third-party logistics market. Outsourcing logistics involves engaging a third party to handle all or a portion of a company's logistical activities. Outsourcing logistics is used in biopharmaceutical third-party logistics for outsourcing cryogenic supply chain management to logistics partners. For instance, in December 2021, according to the survey conducted by Gartner Inc., a US-based provider of technological research and consulting, in 2021, out of 298 supply chain professionals in the US around 66% of logistics leaders augmented their budget allocated to logistics outsourcing, and a projected 74% foresee a further increase within the next two years. Therefore, the rising trend of outsourcing logistics is expected to propel the growth of the biopharmaceutical third-party logistics market.
Competitive Landscape:
Major companies operating in the biopharmaceutical third-party logistics market report are McKesson Corporation, AmerisourceBergen Corporation, United Parcel Service of America Inc., FedEx Corporation, DHL International GmbH, Kuehne + Nagel International AG, SF Express Co Ltd., DB Schenker, CH Robinson Worldwide Inc., Nippon Express Group, Expeditors International of Washington Inc., Sinotrans Limited, XPO Logistics Inc., Kerry Logistics Network Limited, Bollore Logistics, Catalent Inc., Agility Logistics, Almac Group, VersaCold Logistics Services, Cryoport Inc., Agility Logistics Corp, Fisher Clinical Services, CEVA Logistics Inc., LifeScience Logistics, Cold Chain Technologies LLC, Langham Logistics, Airpharm Logistics, Express Courier International, Bio Pharma Logistics, PCI Pharma Services
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Top Trend - Strategic Product Launches Drive Competitiveness In The Market
Technological advancements are a key trend gaining popularity in the biopharmaceutical third-party logistics market. Major companies operating in the biopharmaceutical third-party logistics market are focused on launching new products to strengthen their position and gain a competitive advantage. For instance, in November 2022, Celcius Logistics Solutions Pvt Ltd., an India-based provider of logistics services, launched Hyper-Local temperature-controlled delivery services for food and pharma orders. The company offers its last-mile solution, which includes a service suitable for smaller quantities. This service is available in nine cities throughout the country. By implementing a hyperlocal approach, the company guarantees the optimal quality of transported materials by continuously monitoring temperature in real time at each stage of the delivery process.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biopharmaceutical Third Party Logistics Market Characteristics
3. Biopharmaceutical Third Party Logistics Market Trends And Strategies
4. Biopharmaceutical Third Party Logistics Market - Macro Economic Scenario
5. Biopharmaceutical Third Party Logistics Market Size And Growth
…..
27. Biopharmaceutical Third Party Logistics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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