Biopharmaceutical Third Party Logistics (3PL) Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report, 2025
“The scope of the global Biopharmaceutical Third-Party Logistics (3PL) Market was appreciated at US$ 86.37 billion in 2018. The range is projected to touch US$ 120.64 billion by 2025, growing at a CAGR of 4.9%”
The global Biopharmaceutical Third-Party Logistics (3PL) Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The scope of the global Biopharmaceutical Third-Party Logistics (3PL) Market was appreciated at US$ 86.37 billion in 2018. The range is projected to touch US$ 120.64 billion by 2025, growing at a CAGR of 4.9% for the duration of the forecast. Biopharmaceutical third-party logistics refers to the transportation of medicines from one place to another using advanced vehicles. These vehicles are specially designed to automate temperature management and reduce the possibility of human errors during transportation. Pharmaceutical products are temperature sensitive and require continuous monitoring through tracking devices. Thereby, pharmaceutical companies are using all sorts of technologically advanced devices to form effective distribution networks. Rising demand for effective logistics systems to safely transport temperature-sensitive medicines is anticipated to propel biopharmaceutical 3PL market growth. The advent of a wide range of biologics and biosimilar which require temperature-controlled logistic service for distribution is expected to impel biopharmaceutical third-party logistics market growth. The growing adoption of automation in manufacturing facilities to reduce operational costs is driving demand for third-party logistic services. In addition, the rising demand for biologics owing to the growing prevalence of chronic diseases is contributing well to biopharmaceutical third-party logistics (3PL) industry growth.
To cater to the rising demand for advanced logistic services in the biopharmaceutical industry, companies are investing in R&D to develop effective value-added services. For instance, in 2018, DHL installed near field communication (NFC) based internet of things (IoT) devices in vehicles to record information using mobile applications. Smart sensor technology measures environmental conditions inside the vehicle and uploads this information on a mobile application called LifeTrack. Implementation of such technologically advanced devices is supporting DHL in improving its distribution network. Some of the key players in the biopharmaceutical third-party logistics market are United Parcel Service of America, Inc; DHL International GmbH.; SF Express; AmerisourceBergen Corporation; and DB Schenker. The market is fragmented owing to the presence of a large number of companies. This fragmentation is likely to restrict big companies from penetrating into new regions across the globe. Thereby, big market players are adopting advanced technologies from small-scale companies to expand their business. Request free sample to get a complete analysis of the market players @ https://www.millioninsights.com/industry-reports/biopharmaceutical-third-party-logistics-3plmarket/request-sample Supply Chain Insights Based on the supply chain, the biopharmaceutical third-party logistics market can be bifurcated into the non-cold chain and cold chain. The cold chain segment is expected to grow fast over the forecast period owing to rising demand for novel drugs and biologics across the globe. Biologics are temperature sensitive and require additional care during transportation. Logistic service providers use temperature data loggers to measure temperature readings for the product being shipped. These technologically advanced data loggers are capable of measuring humidity, vibration, shock, and temperature. In addition, service providers also use radio frequency identification (RFID) and software to gather information. Service Type Insights On the basis of service type, the biopharmaceutical 3PL market can be categorized into transportation, warehousing and storage, and others. The others segment includes procurement services, packaging, and custom and duty management. In 2018, the warehousing and storage segment accounted for the largest market share. This is attributed to the rising demand for third-party logistics services among pharmaceutical companies to reduce the company’s overheads and operational expenses. Regional Insights Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and the Middle East, and Africa. In 2018, North America accounted for the largest market share owing to the increasing number of pharmaceutical companies in the region. The growing adoption of third-party transportation and warehousing services among these companies has contributed well to regional market growth. In addition, an increasing number of import and export activities for biopharmaceuticals owing to rising disposable income is driving the market in this region. The Asia Pacific, on the other hand, is anticipated to exhibit the highest CAGR over the forecast period. This is attributed to the growing number of the aging population suffering from diabetes and cardiovascular diseases. Such patients require medicines on regular basis, which is likely to drive demand for effective logistics systems among pharmaceutical companies. Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
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