Biopharmaceutical Third Party Logistics Market Size to Garner US$ 159.86 BN by 2030

The global biopharmaceutical third party logistics market size was valued at US$ 100.23 billion in 2021 and is projected to reach around US$ 159.86 billion by 2030, growing at a CAGR of 5.3% from 2022 to 2030.
 

One of the significant factors driving the growth of global biopharmaceutical third party logistics market is the growing trend of outsourcing by healthcare and medical firms. In addition, the adoption of various latest and advanced technologies such as internet of things, robotics, near field communication, and cloud computing are contributing towards the expansion and development of global biopharmaceutical third party logistics market. With the help of these technologies, the process of logistics is automated, which helps to minimize operation complexities. Furthermore, the growing research and development activities are also resulting into the expansion of global biopharmaceutical third party logistics market. Thus, all of these aforementioned factors are supporting the growth of global biopharmaceutical third party logistics market.

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Market Dynamics

Drivers

Technological developments

Both service providers and shippers benefit from technological advancements. For pricey and advanced technological solutions and services, shippers are increasingly relying on third party logistics. Furthermore, utilizing new technological software aids in achieving significant operating efficiencies. As a result, technological developments are boosting the growth of global biopharmaceutical third party logistics market. 

Restraints

Lack of logistics experts

In comparison to industrialized nations, the expansion of logistics services in underdeveloped nations continues to lag. This growth is the result of the biopharmaceutical third party logistics market’s scarcity of skilled personnel. The absence of experienced logistics experts also restricts the biopharmaceutical third party logistics market’s expansion. Thus, this factor is hampering the development of biopharmaceutical third party logistics in the global market.

Opportunities

Growing globalization and trade activities

As a result of increased globalization, various trade related activities have increased. Thus, retailers and manufacturers struggle to keep record of these activities in a timely basis, enterprises assist these manufacturers in keep record of controlling these activities. Furthermore, the expansion of the global market is a major driver driving the biopharmaceutical third party logistics sector forward. As a result, growing globalization and trade activities are supporting the growth and development of global biopharmaceutical third party logistics market.

Challenges

Lack of control of shippers on logistics service

The shipper or manufacturing organization of drugs and medications that uses a biopharmaceutical third party logistics service must depend on the service providers’ competence. In this case, the shipper must depend on a third-party logistics service provider, resulting in a loss of direct control. Furthermore, the producer is unable to oversee warehouse operations, posing a significant risk to the quality of products. As a result, shippers’ lack of control over logistical services stymies worldwide biopharmaceutical third party logistics market development.

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Report Highlights

• On the basis of system service type, warehousing and storage segment holds the largest market share in the global biopharmaceutical third party logistics market. The expansion of this segment has been aided by the increasing demand for warehouse and storage services among life sciences and pharmaceutical firms.

• On the basis of supply chain, non-cold chain logistics segment holds the largest market share in the global biopharmaceutical third party logistics market. This can be attributable to rising pharmaceutical sales through wholesalers.

Regional Snapshot

North America is the largest segment for biopharmaceutical third party logistics market in terms of region. The U.S. is dominating the biopharmaceutical third party logistics market in the North America region. The growth of biopharmaceutical third party logistics market in North America region is attributed to the technological developments, existence of major market players, and the improved infrastructure of warehousing.

Asia-Pacific region is the fastest growing region in the biopharmaceutical third party logistics market. India and China hold the highest market share in the Asia-Pacific biopharmaceutical third party logistics market. The factors such as growing geriatric population, adoption of advanced technologies, and economic development are driving the growth of Asia-Pacific biopharmaceutical third party logistics market.

Recent Developments

• DHL Supply Chain, the contract logistics leader of Deutsche Post DHL Group, began construction on a 32,000-square-meter logistics center in Germany, in June 2021. The complex will open in late 2021, 35 kilometers north of Frankfurt am Main. With the addition of the additional structure, Germany’s multi-user campus for pharmaceuticals and medical products now has a total capacity of more than 70,000 square meters, supplying markets all over Europe. On the property, there are presently two logistical hubs. Increased warehouse capacity in temperature zones of 15-25°C, 2-8°C, and -24°C is intended to help customers in the pharmaceutical and medical products industries at the new site. Customers can also store hazardous products in a separate 1,750 square meter storage facility.
• DHL Global Forwarding, a subsidiary of the Deutsche Post DHL Group that specializes in ocean and air freight, was awarded the agreement to manage vaccine distribution to Japan in February 2021. With this agreement, the company’s global vaccine logistics presence grows even more. More items will be sent to Japan in groups by air from the DHL Global Forwarding hub in Belgium year-round.

Some of the key players in the market include:

• Agility Logistics
• AmerisourceBergen Corporation
• DB Schenker
• DHL International GmbH
• FedEx Corporation
• Kerry Logistics Network Limited
• Kuehne + Nagel International AG
• McKesson Corporation
• SF Express Co. Ltd.
• United Parcel Service of America, Inc.

Market Segmentations:

By Service Type

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

By Supply Chain

• Cold Chain
• Non-Cold Chain

Regional Segmentations:

• North America (U.S. and Canada)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

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