Biopharmaceutical Third-party Logistics Market Trends Analysis And Forecast Till 2030: Grand View Research Inc.

 Biopharmaceutical Third-party Logistics Market Growth & Trends

The global biopharmaceutical third-party logistics market size is expected to reach USD 198.5 billion by 2030, growing at a CAGR of 5.9% over the forecast period, according to a new report by Grand View Research, Inc. The rising demand for temperature-controlled logistic services to transport biologics in various regions and growing distribution networks of biopharmaceutical companies to improve their sales are factors driving the biopharmaceutical third-party logistics (3PL) market growth. The rising adoption of automated storage and retrieval systems in emerging countries is an ongoing trend in the pharmaceutical logistics companies that have gained significant traction. The key market players played a vital role in the fight against COVID-19 by minimizing supply disruptions and prioritizing critical care drugs.

A sudden surge in the demand for cold chain logistics was observed during the pandemic because of the manufacturing and distribution of COVID-19 vaccines. The future also seems good for the global market with the rising demand for domestic logistics coupled with favorable government initiatives and policies. Furthermore, the trend of shifting from small molecule drugs to biopharmaceuticals, mainly vaccines, and biologics, is projected to drive the market. Since these small molecule drugs are temperature-sensitive products, demand for temperature-controlled transportation and storage increases and thus is responsible for the market growth.

Moreover, environmental concerns and costs have caused a slight shift in the means of transport used for commercial products, moving from airway to seaway shipping and in roadways from truck to intermodal (both rail and truck). Intermodal transport is majorly used by these pharmaceutical companies to reduce their carbon footprint. The ongoing trend shows that pharmaceutical manufacturers have shifted towards sea freight to reduce the cost and risk factors. Although for cold chain products, the companies still prefer air freight. However, some of the large pharmaceutical companies are planning to transport 70% of their products via ocean freight including cold chain products.

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Biopharmaceutical Third-party Logistics Market Report Highlights

• In 2021, the non-cold chain segment held the largest revenue share owing to the sales of a large number of drugs that do not require any temperature control
• The cold chain logistics segment is expected to register the fastest CAGR over the forecast period owing to the demand for biologics, such as cellular therapies, vaccines, and test kits
• The warehousing and storage service types segment accounted for the largest market share in 2021
• Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period
• This is mainly attributed to the rising demand for medicines from the aging population and the shift of drug sales from brand manufacturers to generic

Access Press Release@ https://www.grandviewresearch.com/press-release/global-biopharmaceutical-third-party-logistics-3pl-market

Biopharmaceutical Third-party Logistics Market Segmentation

Grand View Research has segmented the global biopharmaceutical third-party logistics market based on the supply chain, service type, and region:

Biopharmaceutical 3PL Supply Chain Outlook (Revenue, USD Billion, 2018 - 2030)

• Cold Chain
• Non-cold Chain

Biopharmaceutical 3PL Service Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Transportation
  • Air Freight
  • Sea Freight
  • Overland
• Warehousing & Storage
• Others Services

Biopharmaceutical 3PL Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • New Zealand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players in Biopharmaceutical Third-party Logistics Market

• FedEx
• DHL International GmbH
• SF Express
• United Parcel Service of America, Inc.
• AmerisourceBergen Corp.
• DB Schenker
• KUEHNE + NAGEL
• Kerry Logistics Network Ltd.
• Agility

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.