Biopharmaceutical Third-Party Logistics Market Size to Hit US$ 198.9 Bn by 2030

Latest Study on “Biopharmaceutical Third-Party Logistics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Biopharmaceutical Third-Party Logistics market size is expected to be worth around US$ 198.9 billion by 2030, according to a new report by Nova one advisor.

The global Biopharmaceutical Third-Party Logistics market size was valued at US$ 119.9 billion in 2021 and is anticipated to grow at a CAGR of 5.11% during forecast period 2022 to 2030.

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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.

Report Scope of the Biopharmaceutical Third-party Logistics Market

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 Key Takeaways:

• By Supply Chain, the U.S. Biopharmaceutical Third-party Logistics market was valued at USD 46.9 Billion in 2021 and expected to witness growth at a CAGR of 7.4% from 2022 to 2030.
• 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

Regional Insight

North America dominated the global market in 2021 and accounted for the maximum share of more than 42.2% of the global revenue. This is majorly attributed to the dominance of the region in the biologics and pharmaceutical drugs market and an increase in exports and imports for biopharmaceuticals. Furthermore, owing to high healthcare expenditure, the adoption of advanced technologies is quite high in the region. Thus, for the improvement of warehousing and transportation, North America-based pharmaceutical companies are relying more on 3PL services providers, which is driving the regional growth. In addition, the presence of major players in these regions is also responsible for its largest market share. Asia Pacific is expected to witness the fastest CAGR over the forecast period.

The growing demand for medicines among the aging population, adoption of technologically advanced services, and growing economic conditions in emerging countries, such as China and India, are among the few factors responsible for its fastest growth. Furthermore, an increasing number of patent expirations in the coming years indicate a major shift in drug sales from the original brand manufacturer to generic ones. This factor is anticipated to boost the sales and import & export of pharmaceutical products. A rising number of diseases is also contributing to the demand for biologics and pharmaceuticals. For instance, the demand for insulin is more in the Asia Pacific due to the high number of type 2 diabetes patients.

Some of the prominent players in the Biopharmaceutical Third-party Logistics Market include:

• DHL International GmbH
• SF Express
• United Parcel Service of America, Inc.
• AmerisourceBergen Corp.
• DB Schenker
• Kuehne and Nagel
• Kerry Logistics Network Ltd.
• Agility

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Nova one advisor, Inc. has segmented the global Biopharmaceutical Third-party Logistics market

• Supply Chain
  • Cold Chain
  • Non-cold Chain
• Service Type
  • Transportation
    • Air Freight
    • Sea Freight
    • Overland
  • Warehousing & Storage
  • Others Services

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Objectives of the Study

• To define, describe, and forecast the Biopharmaceutical Third-Party Logistics market based on type, technology, application, end user, and region
• To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
• To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
• To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Biopharmaceutical Third-Party Logistics market

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