Biopharmaceutical 3PL Market Growth & Trends
The global biopharmaceutical third-party logistics (3PL) market size is expected to reach USD 198.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2023 to 2030. Increasing 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 market growth. The rising adoption of automated storage and retrieval systems in emerging countries is an ongoing trend among pharmaceutical logistics companies that has gained significant traction.
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. Technological advancements are among the main factors drivingmarket growth. Technologies, such as mobile cloud solutions, warehouse robotics, and data mining, have changed the overall 3PL space. With the help of these advanced technologies, 3PL companies can maintain the required temperatures for products during transportation.
This will help in reducing complexities in products and human errors. Most biopharmaceutical products are very temperature-sensitive and hence should be stored at the required temperatures. These products require a tracking device for monitoring until delivery. For instance, in May 2023, Tridentify launched a real-time cold chain monitoring system with an innovative feature for continuously tracking the stability and remaining shelf life of products transported in the cold chain. It offers a thorough view of the stability and remaining shelf-life of pharmaceutical products in real-time, which will revolutionize the way companies monitor their operations and manage their stability budgets.
In addition, 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) transport. Intermodal transport is majorly used by these pharmaceutical companies to reduce their carbon footprint. The ongoing trend shows that pharmaceutical manufacturers have shifted to 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 3PL Market Report Highlights
- In 2022, the non-cold chain logistics segment held the largest share of 79.7% in terms of revenue 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 a CAGR of 8.8% over the forecast period owing to the demand for biologics, such as cellular therapies, vaccines, and test kits
- The warehousing and storage segment held the largest share of 43.3% in 2022. The transportation segment also held a significant revenue share in 2022 due to the lack of internal capabilities of companies
- North America held the largest revenue share of over 42% in 2022 owing to the rise in imports and exports for biopharmaceutical in the country
- Asia Pacific is expected to register the fastest CAGR of 7.4% over the forecast period owing to the adoption of medicines from the aging population and the shift of drug sales from brand manufacturers to generic
- The key players are undertaking several strategic initiatives to strengthen their market presence. For instance, in February 2021, Kuehne+Nagel entered into a partnership with China’s largest non-state-owned pharma distribution company, Jointown, to enhance its footprint in healthcare & pharmaceutical logistics in China
Access Press Release@ https://www.grandviewresearch.com/press-release/global-biopharmaceutical-third-party-logistics-3pl-market
Biopharmaceutical 3PL Market Segmentation
Grand View Research has segmented the global biopharmaceutical 3PL market based on supply chain, service type, and region:
Biopharmaceutical Third-party Logistics (3PL) Supply Chain Outlook (Revenue, USD Billion, 2018 - 2030)
- Cold Chain
- Non-cold Chain
Biopharmaceutical Third-party Logistics (3PL) Service Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Transportation
- Air Freight
- Sea Freight
- Overland
- Warehousing & Storage
- Others Services
Biopharmaceutical Third-party Logistics (3PL) Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- US.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- India
- China
- Japan
- Australia
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players of Biopharmaceutical Third-party Logistics (3PL) Market
- DHL International GmbH
- SF Express
- United Parcel Service of America, Inc.
- AmerisourceBergen Corp.
- DB Schenker
- Kuehne and 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.
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