U.S. Biopharmaceutical Third-party Logistics Market Observe Significant Growth Of USD 87.2 Billion By 2030

Posted by Neha Bora on January 2nd, 2023

San Francisco, 2 Jan 2023: The Report U.S. Biopharmaceutical Third-party Logistics Market Size, Share & Trends Analysis Report By Supply Chain (Cold Chain, Non-cold Chain), By Service, By Product Type (Specialty Drug), And Segment Forecasts, 2022 - 2030

The U.S. biopharmaceutical third-party logistics market size is expected to reach USD 87.2 billion by 2030, expanding at a CAGR of 7.3% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for novel biologics and the need to manage those is boosting the market growth. Besides, rising demand for temperature-controlled logistic services to transport biologics in various regions and growing distribution networks of biopharmaceutical companies to improve their sales are factors driving the growth.

The COVID-19 pandemic has had a major impact on global logistics to some extent due to diminished air freight capacity and reduced workforce at warehouses and airports. The decisions of local authorities to shut down the logistic infrastructure, enforce movement restrictions, or put in place additional requirements to suppress transmission of the virus have also impacted the logistic services. This has significantly hindered many supply operations.

The future seems lucrative for the biopharmaceutical third-party logistics industry in the U.S. with the retraction of government regulations related to transportation and shelter-in-place mandates. A sudden surge in the demand for cold chain logistics was observed during the pandemic. Growth in the manufacture and distribution of the COVID-19 vaccine is expected throughout 2021. For instance, in March 2021, FedEx Express started shipping COVID-19 vaccines for McKesson Corp. to centers all across the U.S. The company has already shipped millions of COVID-19 vaccines since mid-December 2020.

Access Research Report of U.S. Biopharmaceutical Third-party Logistics Market @ https://www.grandviewresearch.com/industry-analysis/us-biopharmaceutical-third-party-logistics-market-report

U.S. Biopharmaceutical Third-party Logistics Market Highlights

• Non-cold chain logistics held the largest market share of 80.2% owing to the sales of a large number of drugs that do not require any temperature control
• The cold chain logistics segment is projected to witness the fastest CAGR of 10.1% over the forecast period owing to the demand for biologics, such as cellular therapies, vaccines, and test kits
• The increasing demand for the COVID-19 vaccine is a major contributor to the market growth. Furthermore, the rising trend of outsourcing logistics services is also fueling the growth
• Warehousing and storage held the largest market share of 43.4% share due to the growing demand for storage
• Specialty drugs dominated the market with the largest share of 39.2% in 2021 due to substantial growth in specialty pharma

List of Key Players in the U.S. Biopharmaceutical Third-party Logistics Market

• DHL International GmbH
• SF Express
• United Parcel Service of America, Inc.
• AmerisourceBergen Corporation
• DB Schenker
• KUEHNE + NAGEL
• Kerry Logistics Network Limited
• Agility

Access Press Release of U.S. Biopharmaceutical Third-party Logistics Market @ https://www.grandviewresearch.com/press-release/us-biopharmaceutical-3pl-market-analysis