Biopharmaceuticals Third Party Logistics 3pl Market Size, Share, Growth Analysis, By Supply chain(cold chain and non-cold chain), By Service type(transportation, warehousing and storage), By Region - Industry Forecast 2024-2031

Biopharmaceuticals Third Party Logistics 3pl Market Drivers

Rise of Automation to Bolster Market Growth

• The growing demand for efficient logistics solutions that can safely transport temperature-sensitive medications is expected to drive the growth of the biopharmaceutical third-party logistics (3PL) market. The introduction of a wide range of biologics and biosimilars, all of which require temperature-controlled logistics service to be distributed, is expected to be the driving force behind the growth of the biopharmaceutical third-party logistics market. The increased adoption of automation in manufacturing facilities in an effort to reduce operational costs is driving demand for third-party logistics services. Furthermore, the rising prevalence of chronic diseases is driving up demand for biologics, which is fuelling the growth of the biopharmaceutical third-party logistics (3PL) market.

• One of the most important drivers of the proliferation of temperature management logistic services is technological advancement. The introduction of new technologies such as warehouse robotics, mobile cloud solutions, data mining, and real-time monitoring has had a significant impact on the logistics industry as a whole. According to a survey conducted globally in July 2021, third-party logistics providers place a high value on cold chain services (3PLs). More than 60% of third-party logistics (3PL) service providers believe that cold chain services will be critical to their company's growth in the coming years.

Biopharmaceuticals Third Party Logistics 3pl Market Restraints

Lack of Skilled Workers to Hinder Market Growth During Forecast Period

• Logistics service development in developing countries continues to lag behind that in developed countries. This increase in service demand is due to a shortage of skilled workers in the biopharmaceutical third-party logistics sector. The shortage of qualified personnel also makes it difficult to expand the biopharmaceutical third-party logistics industry. As a result, the global market for pharmaceutical third-party logistics has been hampered.

• The competency of a biopharmaceutical third-party logistics service is also important to the shipper or manufacturer of pharmaceuticals and medications that use it. The shipper must work with an outside logistics agency due to a lack of direct management. Producers are jeopardising the quality of their products due to a lack of oversight. The global biopharmaceutical third-party logistics market is stifled due to shippers' lack of control over logistics services.