Dublin, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The "Global Biopharmaceutical Third-Party Logistics (3PL) Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
Quick Summary
In a landscape characterized by escalating innovation and growing demand, the global biopharmaceutical third-party logistics (3PL) market stands as a pivotal component for the expansiveness and efficiency of the biopharmaceutical industry. Witnessing propelling growth, this market is surging ahead on the back of increasing requirement for temperature-controlled logistic services, amplifying distribution networks of biopharmaceutical companies, and a rising trend favoring shift from small-molecule drugs to biopharmaceuticals, particularly vaccines and biologics.
Leading this transformational wave are robust technological advancements, ranging from mobile cloud solutions and warehouse robotics to data mining, reshaping the structure and operations of the 3PL space. These technologies provide 3PL companies with the ability to maintain optimal temperatures for products during transportation, diminishing product complexities and human errors. This is proving critical, given the temperature-sensitive nature of most biopharmaceutical products. In addition, shifting preferences towards more environment-friendly and less risky means of transport offer added momentum for the growth trajectory of the market.
Experience the depth of this game-changing market and drive strategic decisions with this comprehensive biopharmaceutical 3PL market report. Arm yourself with in-depth insights into market elements, dynamics, and trends for a robust positioning in this rapidly evolving space.
Companies Profiled in the Report
- DHL International GmbH
- SF Express
- United Parcel Service of America, Inc.
- AmerisourceBergen Corp.
- DB Schenker
- Kuehne and Nagel
- Kerry Logistics Network Ltd.
- Agility
Market Insights
The global biopharmaceutical third-party logistics (3PL) market is poised for substantial growth, with a projected size of USD 198.5 billion by the year 2030. This expansion is expected to be driven by a steady Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2030.
Several key factors contribute to this growth, including the increasing demand for temperature-controlled logistics services for the transportation of biologics in various regions and the expanding distribution networks of biopharmaceutical companies aimed at boosting sales. Moreover, the adoption of automated storage and retrieval systems in emerging economies is a prominent trend in the pharmaceutical logistics sector, garnering significant attention.
A noteworthy shift from small-molecule drugs to biopharmaceuticals, particularly vaccines and biologics, is expected to propel the market further. Given the temperature sensitivity of these small molecule drugs, there is an elevated need for temperature-controlled transportation and storage, thus driving market growth. Technological advancements play a pivotal role in this surge, with innovations such as mobile cloud solutions, warehouse robotics, and data mining reshaping the 3PL landscape. These advancements enable 3PL companies to maintain the necessary temperature conditions during product transportation, reducing complexities and human errors.
Real-time cold chain monitoring systems have also become integral in ensuring product integrity. For instance, Tridentify launched a system in May 2023 that continuously tracks the stability and remaining shelf life of cold chain products, offering real-time insights. This innovation promises to revolutionize operational monitoring for companies and stability budget management.
In addition, environmental concerns and cost considerations have prompted a shift in transport methods, moving from airway to seaway shipping and from truck to intermodal (both rail and truck) transportation. Intermodal transport, in particular, is favored by pharmaceutical companies as it helps reduce their carbon footprint. The trend indicates that pharmaceutical manufacturers are increasingly using sea freight for their products, even cold chain items. However, air freight remains the preferred choice for highly temperature-sensitive products.
Key Highlights of the Biopharmaceutical 3PL Market
- Non-Cold Chain Logistics Dominate in 2022: In 2022, the non-cold chain logistics segment held the largest share of 79.7% in terms of revenue. This dominance is attributed to the sales of numerous drugs that do not require temperature control during transportation.
- Cold Chain Logistics on a Growth Trajectory: The cold chain logistics segment is anticipated to register a remarkable CAGR of 8.8% over the forecast period. The demand for biologics, including cellular therapies, vaccines, and test kits, fuels the growth of this segment.
- Warehousing and Storage at the Helm: In 2022, the warehousing and storage segment secured the largest share of 43.3%. The transportation segment also commanded a significant revenue share in 2022 due to the limited internal capabilities of companies.
- North America Leads in Revenue Share: North America took the lead with the largest revenue share, surpassing 42% in 2022. The region's strong performance is driven by increasing imports and exports of biopharmaceuticals.
- Asia Pacific Set for Rapid Growth: Asia Pacific is expected to exhibit the fastest CAGR of 7.4% over the forecast period. Factors contributing to this growth include the adoption of medicines by an aging population and the transition of drug sales from brand manufacturers to generic products.
- Strategic Initiatives Boost Market Presence: Key players in the industry are actively pursuing strategic initiatives to bolster their market presence. For example, in February 2021, Kuehne+Nagel entered into a partnership with China's largest non-state-owned pharmaceutical distribution company, Jointown, aiming to enhance their footprint in healthcare and pharmaceutical logistics in China.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $125.8 Billion |
| Forecasted Market Value (USD) by 2030 | $198.5 Billion |
| Compound Annual Growth Rate | 6% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. Country Based Segment Share Calculation
1.8. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Regional Insights
2.4. Competitive Insights
2.5. Biopharmaceutical Third Party Logistics Market Snapshot
2.6. Biopharmaceutical Third Party Logistics Market Segment Snapshot
2.7. Biopharmaceutical Third Party Logistics Market Competitive Landscape Snapshot
Chapter 3. Biopharmaceutical Third Party Logistics Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.3. Biopharmaceutical Third-party Logistics Market Analysis Tools
Chapter 4. Biopharmaceutical Third-party Logistics Market: Service Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Biopharmaceutical Third-party Logistics Market: Service Movement Analysis, USD Billion, 2022 & 2030
4.3. Transportation
4.4. Warehousing & Storage
4.5. Others
Chapter 5. Biopharmaceutical Third Party Logistics Market: Supply Chain Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Biopharmaceutical Third Party Logistics Market: Supply Chain Movement Analysis, USD Billion, 2022 & 2030
5.3. Cold Chain
5.4. Non-Cold Chain
Chapter 6. Biopharmaceutical Third Party Logistics Market: Regional Estimates & Trend Analysis
6.1. Biopharmaceutical Third Party Logistics Market: Regional Movement Analysis, 2022 & 2030
6.2. North America
6.3. Europe
6.4. Asia Pacific
6.5. Latin America
6.6. Middle East & Africa
Chapter 7. Competitive Landscape
7.1. Company Categorization
7.2. Company Market Share Analysis, 2022
7.3. List of Key Private Players
7.4. Strategy Mapping
7.5. Company Profiles/Listing
For more information about this report visit https://www.researchandmarkets.com/r/9zn143
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