Technological Advancements in Manufacturing are Expected to Provide Significant Opportunities to Biopharmaceutical Third Party Logistics Market Players

• Himanshu Patni
• February 17, 2023
• HEALTHCARE, NEWS
• Biopharmaceutical Third Party Logistics Market, Biopharmaceutical Third Party Logistics Market growth, Biopharmaceutical Third Party Logistics Market share, Biopharmaceutical Third Party Logistics Market Size, Biopharmaceutical Third Party Logistics Market trends
• 0 Comments

Global biopharmaceutical third-party logistics market is expected to witness a CAGR of around 5.6% during the forecast period. Biopharmaceutical third-party logistics is the rising trend of outsourcing logistics, the focus of pharmaceutical players on their distribution network owing to its strong sales numbers, and a rise in the number of biosimilar launches are some of the key factors driving the market. The rising prevalence of various diseases coupled with the COVID-19 pandemic is expected to drive the market for biopharmaceutical third-party logistics. Furthermore, the surging investments in research and development of targeted drugs, specific drugs, and pharmacogenetic drugs are also expected to support market growth.  . For instance, in August 2020, United Parcel Service of America, Inc. announced that it is developing two massive freezer farms competent for super-cooling lakhs of doses of COVID-19 vaccine in preparation for the day when the medicine will need to be delivered at high speed around the world. The development and deployment of such technologies ensure the safety of the medicines and boosts the demand for third-party logistics services across the pharmaceutical industry.

For a detailed analysis of the global biopharmaceutical third-party logistics market browse through- https://univdatos.com/report/biopharmaceutical-third-party-logistics-market/

Based on service type, the market is bifurcated into warehousing & storage, transportation, and others. In the forecast period, the warehousing & storage segment is expected to witness significant growth. This is mainly due to the rising focus on increasing the accuracy of biopharmaceutical drugs along with increased demand for logistical services from the healthcare and pharmaceutical industries driving the market. For instance, third-party logistics service has become trendier to minimize overheads and OPEX.

Based on the supply chain, the market is categorized into the cold chain and non-cold chain. Among the two, the non-cold chain held a dominant share of the market in 2020. This can be attributed to the improved marketing strategies along with the increased connectivity coupled with rising pharmaceutical sales through wholesalers in the manufacturing sector. Furthermore, the increasing government investments in pharmaceutical industries in the supply chain also contribute to the growth of the market.

Request for Sample of the report browse through – https://univdatos.com/get-a-free-sample-form-php/?product_id=33314

For a better understanding of the market adoption of the biopharmaceutical third party logistics Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of World. During the forecast period, North America held a significant market share in 2020 due to the presence of leading companies and strong demand for medicines. In addition, the higher geriatric population coupled with the rising number of patients with chronic diseases offer immense opportunities for market players to develop biopharmaceutical third party logistics. Furthermore, an increasing number of import and export activities for biopharmaceuticals in the region are some other major factors driving the market.

Some of the major players operating in the market include Agility, AmerisourceBergen Corporation, DB Schenker, Deutsche Post AG, FedEx, Kerry Logistics Network Limited, Kuehne + Nagel, McKesson Corporation, SF Express Co. Ltd., United Parcel Service of America, Inc. 

Global biopharmaceutical Third Party Logistics Market Segmentation

Market Insight, by Service Type

·       Warehousing & Storage

·       Transportation

·       Others

Market Insight, by Supply Chain

·       Cold Chain

·       Non-Cold Chain

Market Insight, by Region

·       North America

o  U.S.

o  Canada

o  Rest of North America

·       Europe

o  Germany

o  UK

o  France

o  Italy

o  Spain

o  Rest of Europe

·       Asia-Pacific

o  China

o  Japan

o  India

o  Australia

o  Rest of Asia-Pacific

·       Rest of World

Top Company Profiles

·       Agility

·       AmerisourceBergen Corporation

·       DB Schenker

·       Deutsche Post AG

·       FedEx

·       Kerry Logistics Network Limited

·       Kuehne + Nagel

·       McKesson Corporation

·       SF Express Co. Ltd.

·       United Parcel Service of America, Inc