What Factors Propelled The Growth Of The Biopharmaceutical Third-Party Logistics Market In The Past?
The biopharmaceutical third-party logistics market has seen considerable growth due to a variety of factors.
•In recent times, there has been robust growth in the biopharmaceutical third-party logistics sector. This market is projected to expand from a worth of $141.59 billion in 2024 to $150.94 billion in 2025, representing a compound annual growth rate (CAGR) of 6.6%.
The impressive growth experienced during the historic period is due to factors such as the globalization of pharmaceutical supply chains, rigorous regulatory prerequisites, increased production of biopharmaceuticals, and a heightened emphasis on cold chain logistics.
What Is The Projected Growth And Market Size For The Biopharmaceutical Third-Party Logistics Sector?
The biopharmaceutical third-party logistics market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations indicate a robust expansion in the biopharmaceutical third-party logistics market in the ensuing years, with its size estimated to increase to $203.7 billion in 2029 with a compound annual growth rate (CAGR) of 7.8%.
This growth foreseen in the coming years can be credited to the surge in personalized medicine, expansion of biologics and biosimilars, digitalization of the supply chain, complexity in regulatory compliance, and the impact of COVID-19. The forecast period is also likely to witness significant trends like the emergence of on-demand logistics services, sustainability in logistics, last-mile delivery solutions, pharma serialization and traceability, and autonomous logistics.
What Are The Core Factors Supporting Growth In The Biopharmaceutical Third-Party Logistics Market?
The growth of the biopharmaceutical third-party logistics market is anticipated to be fueled by the increasing trend of outsourcing logistics. This process involves employing a third party to manage all or part of a business's logistical operations. Biopharmaceutical third-party logistics often utilize outsourcing logistics to delegate cryogenic supply chain management to logistics partners. For example, in February 2024, the Bureau of Transportation Statistics, a division of the US Department of Transportation (DOT), reported that for-hire freight shipments had increased by 1.8% in December 2023 compared to December 2022, and the Freight Transportation Services Index had risen from 136.6 in December 2022 to 139.1 in December 2023. Consequently, the growing trend of outsourcing logistics is predicted to stimulate the expansion of the biopharmaceutical third-party logistics market.
What Are The Major Segments Within The Global Biopharmaceutical Third-Party Logistics Market?
The biopharmaceutical third-party logistics market covered in this report is segmented –
1) By Supply Chain: Cold Chain, Non-Cold Chain
2) By Service: Transportation, Warehousing And Storage, Other Services
3) By End-User: Pharmaceutical And Biopharmaceutical Companies, Medical Device Companies, Hospitals And Clinics, Other End-Users
Subsegments:
1) By Cold Chain: Refrigerated Transport, Temperature-Controlled Storage, Specialized Packaging
2) By Non-Cold Chain: Ambient Transport, Standard Storage Solutions, General Packaging Methods
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Which Trends Are Expected To Transform The Biopharmaceutical Third-Party Logistics Market?
Technological innovation is a leading trend gaining traction in the third-party logistics market for biopharmaceuticals. Major players in this market are placing their attention on the launch of novel products to fortify their market presence and gain superior competitive standing. Taking an example from November 2022, Celcius Logistics Solutions Pvt Ltd., a logistics services firm based in India, unveiled temperature-controlled delivery services for pharmaceutical and food orders on a hyper-local level. The organization provides its last-mile delivery solution tailored for lesser quantities.This provision is offered in nine cities countrywide. Through the harnessing of a hyperlocal strategy, the firm ensures top-notch quality of delivered items by consistently tracking temperature in real time during every phase of the delivery procedure.
Who Are the Key Players in the Biopharmaceutical Third-Party Logistics Market?
Major companies operating in the biopharmaceutical third-party logistics market include:
• McKesson Corporation
• AmerisourceBergen Corporation
• United Parcel Service of America Inc.
• FedEx Corporation
• DHL International GmbH
• Kuehne + Nagel International AG
• SF Express Co Ltd.
• DB Schenker
• CH Robinson Worldwide Inc.
• Nippon Express Group
• Expeditors International of Washington Inc.
• Sinotrans Limited
• XPO Logistics Inc.
• Kerry Logistics Network Limited
• Bollore Logistics
• Catalent Inc.
• Almac Group
• VersaCold Logistics Services
• Cryoport Inc.
• Agility Logistics Corp
• Fisher Clinical Services
• CEVA Logistics Inc.
• LifeScience Logistics
• Cold Chain Technologies LLC
• Langham Logistics
• Airpharm Logistics
• Express Courier International
• Bio Pharma Logistics
• PCI Pharma Services
What Is The Most Dominant Region In The Biopharmaceutical Third-Party Logistics Market?
North America was the largest region in the biopharmaceutical third party logistics market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical third-party logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
