The Global "Biopharmaceutical
Third Party Logistics (3PL) Market" Industry
research report covers the industry overview with Marketplace Size, Share,
Development, futuristic cost, earnings, demand, and distribution data. Its vast
repository offers an analytical summary of the marketplace that can help to the
new and existing player to take a significant decision.
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 transportation of medicines from place to
another using advanced vehicles. These vehicles are specially designed to
automate temperature management and to reduce possibilities of human errors
during transportation. Pharmaceutical products are temperature sensitive and
require continuous monitoring through tracking devices. Thereby, pharmaceutical
companies are using all sort of technologically advanced devices to form
effective distribution network.
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Rising demand
for effective logistics system to safely transport temperature sensitive
medicines is anticipated to propel biopharmaceutical 3PL market growth. Advent
of wide range of biologics and biosimilar which require temperature controlled
logistic service for distribution is expected to impel biopharmaceutical third
party logistics market growth. Growing adoption of automation in manufacturing
facilities to reduce operational costs is driving demand for third party
logistic services. In addition, rising demand for biologics owing to growing
prevalence of chronic diseases is contributing well to biopharmaceutical third
party logistics (3PL) industry growth. Moreover, growing environmental concerns
among pharmaceutical companies to reduce carbon footprint will drive the market
over the forecast period.
To cater to
rising demand for advanced logistic services in 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 upload this information on mobile application called LifeTrack.
Implementation of such technologically advanced devices is supporting DHL in
improving their distribution network.
Supply Chain
Insights
Based on
supply chain, the biopharmaceutical third party logistics market can be
bifurcated into non-cold chain and cold chain. 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 reading 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. Others segment includes
procurement services, packaging, and custom and duty management. In 2018,
warehousing and storage segment accounted for largest market share. This is
attributed to rising demand for third party logistics services among
pharmaceutical companies to reduce company’s overheads and operational
expenses.
Others segment
is likely to expand at lucrative CAGR over the forecast period owing to rising
focus on packaging of drugs in terms of uniformity, shelf life, and purity.
Regional
Insights
Regional
segmentation includes Europe, North America, Asia Pacific, Latin America, and
Middle East and Africa. In 2018, North America accounted for largest market
share owing to increasing number of pharmaceutical companies in the region.
Growing adoption of third party transportation and warehousing services among
these companies has contributed well to regional market growth. In addition,
increasing number of import and export activities for biopharmaceuticals owing
to rising disposable income is driving the market in this region.
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 presence of 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.
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