The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global biopharmaceutical third-party logistics market is expected to grow  from $122.36 billion in 2022 to $131.23 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The biopharmaceutical third party logistics market is expected to reach $170.26 billion in 2027 at a CAGR of 6.7%.

North America held the largest biopharmaceutical third-party logistics market share, and Asia Pacific was the fastest-growing region in 2022.

Biopharmaceutical Third-Party Logistics Market Driver
The rising trend of outsourcing logistics is expected to drive the growth of the biopharmaceutical third-party logistics market. Outsourcing logistics involves engaging a third party to handle all or a portion of a company’s logistical activities. Outsourcing logistics is used in biopharmaceutical third-party logistics for outsourcing cryogenic supply chain management to logistics partners. For instance, in December 2021, according to the survey conducted by Gartner Inc., a US-based provider of technological research and consulting, in 2021, out of 298 supply chain professionals in the US around 66% of logistics leaders augmented their budget allocated to logistics outsourcing, and a projected 74% foresee a further increase within the next two years. Therefore, the rising trend of outsourcing logistics is expected to propel the growth of the biopharmaceutical third-party logistics market.

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Prominent Biopharmaceutical Third-Party Logistics Market Trend
Technological advancements are a key trend gaining popularity in the biopharmaceutical third-party logistics market. Major companies operating in the biopharmaceutical third-party logistics market are focused on launching new products to strengthen their position and gain a competitive advantage. For instance, in November 2022, Celcius Logistics Solutions Pvt Ltd., an India-based provider of logistics services, launched Hyper-Local temperature-controlled delivery services for food and pharma orders. The company offers its last-mile solution, which includes a service suitable for smaller quantities. This service is available in nine cities throughout the country. By implementing a hyperlocal approach, the company guarantees the optimal quality of transported materials by continuously monitoring temperature in real time at each stage of the delivery process.

Biopharmaceutical Third-Party Logistics Market Prominent Players
Major players in the biopharmaceutical third-party logistics market are 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., Agility Logistics, 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, and PCI Pharma Services.

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Key Biopharmaceutical Third-Party Logistics Market Segments
The global biopharmaceutical third-party logistics market 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

The Biopharmaceutical Third-Party Logistics Global Market Report 2023  provides a comprehensive overview on the biopharmaceutical third-party logistics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the biopharmaceutical third-party logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
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Biopharmaceutical CMO Global Market Report 2023
Pharmaceutical Logistics Global Market Report 2023

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