Published Date: 2019-06-27 | Pages: Ongoing | Tables: Ongoing | Report ID: 4563
Industry: Life Science
Today, it has become a norm in the biopharmaceutical industry to use efficient third party logistics services for on-time and accurate delivery of therapies and other treatments to medical clinics, pharmacies, physicians, and hospitals. Third party logistics can be extremely useful for biopharmaceutical companies to commercialize their therapies. It helps to carefully coordinate the fulfillment and distribution of products and assists biopharmaceutical companies throughout the entire product lifecycle. Biopharmaceutical third party logistics vendors provide an easy-to-access, seamless supply chain model that is beneficial for customers as well as patients.
In April 2019, the Pharmaceutical Distribution Security Alliance (PDSA), a US-based consortium of pharmaceutical supply chain partners, developed a proposed system for Drug Supply Chain Security Act (DSCSA) governance. The system comes with a suggested governance framework model for data generated in a traceability scheme that is scheduled to become operative in 2023. US medicine manufacturers and repackagers will need to mandatorily follow full unit level traceability laws, including aggregation, from November 2023. This means they will need to be connected to an interoperable data governance system allowing the traceability and verification of pharmaceuticals as transaction data is recorded and exchanged and unique codes are read.
Biopharmaceutical third party logistics companies have dedicated resources that support unique logistics requirements of customers. They offer daily program management for transportation, warehousing, and ordering needs, on-boarding services to forecast distribution outcomes, implementation planning services, and strategic execution, designing, and planning services for new drug distribution programs.
The report offered here is an intelligent compilation of powerful research studies that empower competent players like you to gain an edge over your toughest competitors in the global biopharmaceutical third party logistics market. It mainly focuses on drivers, restraints, trends, and opportunities of the global market. It also shows the progress of different regional markets during the forecast period 2019-2025.
What are the key factors improving the global market growth
The continuous launch of biosimilar drugs and products and growing trend of outsourcing logistics are foretold to bode well for the global biopharmaceutical third party logistics market. The significant growth of pharmaceutical distribution networks is also anticipated to drive the global market. Most pharmaceutical products are sensitive to temperature, and therefore, they need to be monitored using a tracking device right up to the delivery stage. This could raise the demand for temperature management logistics services as technology continues to develop in the third party logistics industry.
The automation of temperature control systems, especially during transportation, can help to reduce human error and complexities. Furthermore, it can send breach alerts and allow visibility throughout the entire process. Moreover, giant pharmaceutical firms can reduce overhead costs with the outsourcing of transportation services used to distribute pharmaceutical drugs. All of these factors are expected to increase the growth of the global biopharmaceutical third party logistics market in the near future.
Which are the important segments of the global market●
Segmentation by Supply Chain
● Cold Chain Logistics
● Non-cold Chain Logistics
Segmentation by Service Type
● Air Freight
● Sea Freight
● Overland Transportation
● Warehousing and Storage
Researchers predict non-cold chain logistics to attract the largest share of the global biopharmaceutical third party logistics market in terms of revenue. The rise in pharmaceutical sales via distributors is anticipated to push the market growth of non-cold chain logistics. Among service type segments, warehousing and storage are foreseen to secure a lion’s share of the global market due to the need to reduce overhead and operating costs in the healthcare and pharmaceutical industries.
Segmentation by Region
Which region will lead the global market●
The rise in biopharmaceutical import and export rates is predicted to help North America to collect a king’s share of the global biopharmaceutical third party logistics market. The region could also bank on its impressive performance in the pharmaceutical drugs and biologics industry. High dependency of biopharmaceutical firms on third party logistics service providers to improve their transportation and warehousing is anticipated to augur well for the regional market.
Asia Pacific is expected to take the second position in the global biopharmaceutical third party logistics market in terms of growth due to improving economic conditions in India and China, uptake of technologically developed services, and rising requirement of medicines for the geriatric population.
Which are the top players of the global market●
The authors of the report profile some of the prominent names in the global biopharmaceutical third party logistics market, such as FedEx., DHL International GmbH, SF Express, United Parcel Service of America, Inc., DB Schenker, AmerisourceBergen Corporation, KUEHNE + NAGEL, Agility, and Kerry Logistics Network Limited. The presence of a large number of companies is predicted to make the vendor landscape fragmented.
What is the research methodology●
Our research methodology includes comprehensive collection of data and information not only related to the global biopharmaceutical third party logistics market but also the parent market and the peer market. We verify and revalidate our market estimates, assumptions, and findings with industry experts across the industry value chain. The market size of various segments and sub-segments are calculated with the use of data triangulation and market breakdown methodologies. For data triangulation, various trends and factors from the supply as well as demand side of the global market were analyzed. We used SWOT analysis and looked into recent developments and key strategies to determine the core competencies of players profiled in the report.
Reasons to Buy this Report
● For exclusive data about the global Biopharmaceutical Third Party Logistics Market in our latest research report.
● For authentic forecasts pertaining to capacity, production, value, consumption, growth rate (CAGR), market share, and milestones so far.
● For a valuable insight into manufacturers, capacity, production, revenue, market share, and recent development.
● For identifying significant trends, drivers, influence factors in global, and regions.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
Life sciences is a wide branch of study that is gradually becoming an integral industry to the global economics. QYR Consulting looks at the steady transformation of the life sciences industry and its impact on the subindustries such as medical care, pharmaceutical, and medical devices. Our team of esteemed analysts have put together reports to analyze the monumental changes life sciences is expected to bring in the overall healthcare industry. These reports identify the exact turning points for the industry and open up a platform for discussing its growth.
QYR Consulting brings to you a structured analysis of the technological advancements so far, vision of the players in the industry, and the strategies they are likely to use to make their mark. The reports dissect various components of the life sciences industry to scrutinize the influential factors. To help the readers make profitable business decisions, analysts have highlighted the lucrative investment areas and upcoming business opportunities.
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