Biopharmaceutical Third Party Logistics Market Anticipated to Witness Considerable Growth of $120.64 Billion By 2025: Grand View Research Inc.

Biopharmaceutical Third Party Logistics Market Anticipated to Witness Considerable Growth of $120.64 Billion By 2025: Grand View Research Inc.

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According to report published by Grand View Research, The market for biopharmaceutical third party logistics (3PL) is majorly driven by rising demand for temperature controlled logistic services to transport biologics in various regions and growing distribution networks of biopharmaceutical companies to improve their sales.

According to a report,Biopharmaceutical Third Party Logistics (3PL) Market Size, Share & Trends Analysis Report By Supply Chain (Cold Chain, Non-cold Chain), By Service, By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global biopharmaceutical third party logistics market size is expected to reach USD 120.64 billion by 2025, at a CAGR 4.9% over the forecast period. The market for biopharmaceutical third party logistics (3PL) is majorly driven by rising demand for temperature controlled logistic services to transport biologics in various regions and growing distribution networks of biopharmaceutical companies to improve their sales. Rising adoption of automated storage and retrieval systems in the emerging countries is an ongoing trend in the pharmaceutical logistics companies that has gained a significant traction.

Key Takeaways from the report:

  • In 2018, non-cold chain logistics held the largest market share in terms of revenue owing to the sales of a large number of drugs that do not require any temperature control

  • Cold chain logistics segment is expected to register the faster CAGR over the forecast period owing to the demand for biologics, such as cellular therapies, vaccines, and test kits

  • Warehousing and storage held the largest market share among the types of services in 2018

  • Asia pacific expected to emerge with the fastest CAGR over the forecast period owing to adoption of medicines from aging population and shift of drug sales from brand manufacturers to generic

  • Key players operating in the biopharmaceutical third party logistics market include DHL International GmbH., SF Express, United Parcel Service of America, Inc, AmerisourceBergen Corporation, DB Schenker, Kuehne and Nagel, Kerry logistics network limited and Agility 

U.S. biopharmaceutical 3PL market size, by supply chain, 2014 - 2025 (USD Billion)

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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. As of now, the pharmaceutical sales through distributors have grown from USD 304.6 billion in 2013 to USD 440.2 billion in 2016. However, the average number of manufacturers per distributor had declined from 1,474 in 2014 to 1,211 in 2016. This data depicts that there is an increase in quantity of pharmaceutical products being distributed, and thus, is expected to surge the demand for 3PL services.

Biopharmaceutical 3PL market share, by service type, 2018 (%)

Additionally, environmental concerns and cost have caused a slight shift in the means of transport used for commercial product, moving from airway to seaway shipping and in roadways from truck to intermodal (both rail and truck). The intermodal transport is majorly used by these pharmaceutical companies to reduce the carbon footprint. The ongoing trend shows that the pharmaceutical manufacturers have shifted towards sea freight to reduce the cost and risk factor. 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.

Grand View Research has segmented the global biopharmaceutical third party logistics market on the basis of service, participant, and region:

Biopharmaceutical Third Party Logistics Supply Chain Outlook (Revenue, USD Million, 2014 – 2025)

  • Cold Chain

  • Non-cold Chain

Biopharmaceutical Third Party Logistics Service Outlook (Revenue, USD Million, 2014 – 2025)

  • Transportation

    • Air Freight

    • Sea Freight

    • Overland

  • Warehousing and Storage

  • Others

Biopharmaceutical Third Party Logistics Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • 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

Explore biopharmaceutical third party logistics market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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