Emphasis on Service Type (Warehousing & Storage, Transportation, Others), Supply Chain (Cold Chain and Non-Cold Chain), and Region/Country
The biopharmaceutical third-party logistics market is predicted to grow at a CAGR of ~5.6% between 2021 and 2027. This growth is mainly attributed to the increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases coupled with the rising need for the availability of advanced treatment and medications for these diseases. Furthermore, rising healthcare spending by private and government institutions for the development of new and advanced temperature monitoring technologies is another factor that boosts the market growth. Apps have been introduced to monitor the temperature of certain temperature-sensitive medicines that can be operated through a smartphone. For instance, Onset’s InTemp CX400 mobile application is a pharmaceutical cold chain monitoring app that allows the user to monitor the temperature and it sends notifications to the user regarding the excursions of temperature. 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. The adoption of third-party logistic services has significantly helped biopharmaceutical companies to reduce their overhead expenses and hence the adoption of third-party logistics services has increased during the forecast period.
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. are some of the prominent players operating in the API market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst service type, warehousing & storage to witness higher incremental gain during the forecast period”
Based on service type, the market is bifurcated into warehousing & storage, transportation, and others. Among these, in 2020, warehousing & storage held the higher share in the market. The presence of a well-established infrastructure for chemical-based drug manufacturing and increasing demand for synthetic 3PL due to rising chronic diseases results in the category’s higher share. However, pharmaceutical companies pay a lot of attention to packaging quality, in terms of purity, uniformity, shelf life, integrity, and packaging standard of their products. For instance, Expeditors, a service-based provider of value-added services ranging from simple to complex, offers a range of logistics delivery models that enhance customer services while mitigating transportation and inventory costs. This is thus expected to boost the market over the forecast period attributes to the growth of the category in the foreseeable future.
“Amongst supply chain, non-cold chain category held a significant share in 2020”
Based on the supply chain, the market is categorized into service type, supply chain, and region. Among the two, the non-cold chain is expected to witness significant growth during the forecast period. This is mainly due to an increase in pharmaceutical sales through distributors. 3PL services provide greater scalability, and higher visibility reduces overall operating costs and helps develop a stronger logistics network with higher returns and lower risks. Moreover, advancements in data loggers, such as the capability to measure vibration, humidity, temperature, and shock are anticipated to drive the market during the forecast period.
“North America held a significant market share in 2020”
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. In addition, the higher rapidly growing biopharmaceutical industry in North America offers immense opportunities for market players to develop the biopharmaceutical industry. Furthermore, increased adoption of advanced technologies and rising healthcare expenditure in the region are some other major factors driving the biopharmaceutical third party logistics market.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Biopharmaceutical Third Party Logistics Market
6. Biopharmaceutical Third Party Logistics Market Revenue (usd Bn), 2019-2027f
7. Market Insights By Service Type
8. Market Insights By Supply Chain
9. Market Insights By Region
10. Biopharmaceutical Third Party Logistics Market Dynamics
11. Biopharmaceutical Third Party Logistics Market Opportunities
12. Biopharmaceutical Third Party Logistics Market Trends
13. Policy And Regulatory Landscape
14. Demand And Supply-side Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for the Biopharmaceutical Third Party Logistics Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the biopharmaceutical third party logistics market were the three major steps undertaken to create and analyze the adoption of biopharmaceutical third party logistics in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the biopharmaceutical third party logistics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the biopharmaceutical third party logistics through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the biopharmaceutical third party logistics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as service type, supply chain, and region. Further country-level analyses were conducted to evaluate the overall adoption of biopharmaceutical third party logistics in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of biopharmaceutical third party logistics. Further, we conducted factor analysis using dependent and independent variables such as the increasing digitalization of industries and urbanization in developing countries. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Biopharmaceutical third party logistics sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Biopharmaceutical third party logistics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the biopharmaceutical third party logistics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of service type, supply chain, and region of the biopharmaceutical third party logistics market.
The main objective of the Biopharmaceutical third party logistics Market Study
The current & future market trends of biopharmaceutical third party logistics were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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