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Soaring Demand Set to Propel Biopharmaceutical Third-Party Logistics Market to $203.18 Billion by 2029
Biopharmaceutical Third-Party Logistics
What Is the Expected CAGR for the Biopharmaceutical Third-Party Logistics Market Through 2025?
The expanse of the market catering to third-party logistics within the biopharmaceutical sector has shown robust expansion lately. Projections indicate that this value will move upward from $141.59 billion in the year 2024 to reach $150.5 billion by 2025, reflecting a consistent annual growth rate of 6.3 percent. Factors such as the worldwide scaling of pharmaceutical supply networks, increasingly strict compliance standards, the surge in biopharmaceutical products, and an emphasized concentration on logistics involving temperature-sensitive goods underpin this historical growth trajectory.
What's the Projected Size of the Global Biopharmaceutical Third-Party Logistics Market by 2029?
The sector encompassing third-party logistics providers for biopharmaceuticals anticipates considerable expansion over the forthcoming years, with projections showing the market valuation reaching 203.18 billion US dollars by 2029, underpinned by a compound annual growth rate (CAGR) of 7.8%; this accelerated trajectory is fueled by several factors, namely the proliferation of personalized medical treatments, the increasing market presence of both biologics and their biosimilar counterparts, the ongoing digitization of supply chain operations, the intricate demands of regulatory adherence, and the lasting effects stemming from the COVID-19 pandemic, while concurrently, the period ahead is characterized by key evolving trends such as the adoption of on-demand logistical frameworks, a strong focus on sustainability within logistics operations, advancements in last-mile delivery systems, and heightened utilization of pharma serialization and traceability mechanisms alongside the integration of autonomous logistics technologies.
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Top Growth Drivers in the Biopharmaceutical Third-Party Logistics Industry: What's Accelerating the Market?
The increasing inclination towards externalizing logistics operations is anticipated to be a key factor fueling the ascendance of the biopharmaceutical third-party logistics sector, where engaging an external entity to manage some or all of a firm's supply chain duties is becoming common practice, particularly for specialized needs such as cryogenic supply chain oversight delegated to logistics specialists; this expectation is supported by recent data, for example, showing that from December 2022 to December 2023, the Freight Transportation Services Index advanced from a value of 136.6 to 139.1, alongside a 1.8% year-over-year increase in for-hire freight movements recorded in December 2023, according to the US Department of Transportation's Bureau of Transportation Statistics report in February 2024, which solidifies the projection that greater reliance on outsourced logistics will boost growth within the biopharmaceutical third-party logistics market.
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What Trends Will Shape the Biopharmaceutical Third-Party Logistics Market Through 2029 and Beyond?
A significant trend shaping the biopharmaceutical third-party logistics sector is the rapid progression of technology. Leading firms within this specific logistics arena are concentrating efforts on introducing innovations to solidify their market standing and secure a competitive edge. To illustrate this, Celcius Logistics Solutions Pvt Ltd., an logistics service provider situated in India, rolled out its Hyper-Local temperature-controlled delivery options for both pharmaceutical and food shipments in November 2022. This offering encompasses a last-mile solution designed to accommodate smaller consignment sizes, currently operational across nine metropolitan areas nationwide. Through the adoption of this hyperlocal methodology, the firm ensures the highest possible quality for items in transit via constant, real-time temperature oversight maintained throughout every phase of the delivery chain.
What Are the Main Segments in the Biopharmaceutical Third-Party Logistics Market?
The biopharmaceutical third-party logisticsmarket 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
Subsegments:
1) By Cold Chain: Refrigerated Transport; Temperature-Controlled Storage; Specialized Packaging
2) By Non-Cold Chain: Ambient Transport; Standard Storage Solutions; General Packaging Methods
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Which Top Companies are Driving Growth in the Biopharmaceutical Third-Party Logistics Market?
Major companies operating in the biopharmaceutical third-party logistics market include 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., 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
Which Regions Will Dominate the Biopharmaceutical Third-Party Logistics Market Through 2029?
North America was the largest region in the biopharmaceutical third party logistics market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical third-party logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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