The global biopharmaceutical third party logistics (3PL) market to grow at a CAGR of around 7% during the forecast period (2021-2026).
SHERIDAN, WYOMING, UNITED STATES, September 25, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled, “Biopharmaceutical Third Party Logistics (3PL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global biopharmaceutical third party logistics (3PL) market to grow at a CAGR of around 7% during the forecast period (2021-2026).
Biopharmaceutical third party logistics (3PL) refers to the transportation of medicines using advanced vehicles. These vehicles are specially designed to automate temperature and reduce the possibility of human errors during transportation. Biopharmaceutical 3PL helps carry various medical products, maintain inventory of the goods and fulfill orders. It also minimizes overhead expenses, ensures uninterrupted product supply and improves the transportation services of an organization.
The rising demand for effective logistics systems to safely transport temperature-sensitive medicines is one of the key factors driving the growth of the global biopharmaceutical 3PL market. Furthermore, the emerging trend of outsourcing logistics by medical organizations to optimize their distribution network is propelling market growth. As coronavirus disease (COVID-19) continues to spread across the globe, there has been a significant increase in the demand for 3PL logistics to minimize drug supply disruptions and prioritize the availability of critical care drugs. Moreover, various technological advancements and growing environmental concerns among pharmaceutical companies to reduce carbon footprint are creating a positive outlook for the market.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
DB Schenker (Deutsche Bahn)
DHL International GmbH (Deutsche Post)
Kerry Logistics Network Limited
Kuehne + Nagel International AG
SF Express Co. Ltd.
United Parcel Service of America Inc.
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The report has segmented the market on the basis of Product Type, Distribution Channel, Packaging Type and Region.
Breakup by Supply Chain:
Breakup by Service Type:
Warehousing and Storage
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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