Visiongain’s new report the Biopharmaceutical Third Party Logistics (3PL) Market Report 2019-2029 : Forecasts by Supply Chain (Cold Chain, Non-Cold Chain), by Service Service Type (Transportation {Air Freight , Sea Freight , Overland Transportation}, Warehousing and Storage, Others), plus analysis of leading companies indicates that the global Biopharmaceutical Third Party Logistics (3PL) market will attain $137 billion revenue by 2029.

Global Biopharmaceutical Third Party Logistics market is expected to grow on account of increasing sales of biopharmaceutical and growing demand for safe delivery services for temperature-sensitive biologics. The market is expected to grow at a healthy CAGR of 4.6% over the projected period. In addition, increased demand for safe storage and transport of temperature-sensitive biopharmaceutical products are anticipated to reinforce the market concentration of biopharmaceutical 3PL over the projected period.

Over the past few years, demand for transportation outsourcing services has risen considerably. Outsourcing transportation services have led to reduced significant overheads of giant pharmaceutical companies. In addition, large biopharmaceutical businesses either sign an agreement or outsource services to 3PL service suppliers to decrease general operating costs, resulting in reduced pharmaceutical product prices. This has elevated the demand for biopharmaceutical 3PL services among giant biopharmaceutical companies.

In 2019, the Asia Pacific Biopharmaceutical Third Party Logistics (3PL) market accounted for more than 30% of overall market share. Strong economic growth followed by increasing sales of biopharmaceutical products in India, Japan, China, and Singapore is expected to increase Biopharmaceutical Third Party Logistics (3PL) market penetration over the forecast period. Asia Pacific market is growing on account of the growing aging population, the rising number of diseases is demanding for biologics and pharmaceuticals and high presence of CRO’s in the region.

Notes for Editors
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