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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Market Synopsis of Biopharmaceutical Third Party Logistics Market:
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.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Biopharmaceutical Third Party Logistics: Market Variables, Trends & Scope
Chapter 4 Biopharmaceutical Third Party Logistics: Product Estimates & Trend Analysis
Chapter 5 Biopharmaceutical Third Party Logistics: Application Estimates & Trend Analysis
Chapter 6 Biopharmaceutical Third Party Logistics: End-use Estimates & Trend Analysis
Chapter 7 Biopharmaceutical Third Party Logistics: Industrial End-use Estimates & Trend Analysis
Chapter 8 Biopharmaceutical Third Party Logistics: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Biopharmaceutical Third Party Logistics: Manufacturers Company Profiles
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The scope of the global Biopharmaceutical Third Party Logistics (3PL) Market was appreciated at US$ 86.37 billion in 2018.
Growing adoption of automation in manufacturing facilities to reduce operational costs is driving demand for third party logistic services.
Supply Chain Insights Based on supply chain, the biopharmaceutical third party logistics market can be bifurcated into non-cold chain and cold chain.
Others segment includes procurement services, packaging, and custom and duty management.
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.
