Healthcare Third-party Logistics Market [2028]: Navigating Opportunities and Challenges - An Insightful Perspective from TechSci Research

In a world where the healthcare industry is undergoing rapid transformations, logistics play a pivotal role in ensuring the efficient and timely delivery of pharmaceuticals, medical devices, and healthcare products. According to a comprehensive report by TechSci Research titled “Healthcare Third-party Logistics Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Healthcare Third-party Logistics Market stood at USD 191.59 million in 2022 and is anticipated to grow with a CAGR of 7.21% in the forecast period of 2024-2028. This research provides insights into the key drivers, challenges, and opportunities shaping the future of healthcare logistics.

Market Overview

Healthcare Third-party Logistics providers offer a diverse range of services, including supply chain management, transportation, warehousing, and distribution, catering to pharmaceutical companies, medical device manufacturers, hospitals, and healthcare providers. The complexity of healthcare supply chains is a primary driver of this market. With a myriad of products, from temperature-sensitive drugs to high-value medical equipment, specialized logistics expertise is essential. Third-party logistics providers are equipped to handle these unique requirements, including cold chain logistics, which is vital for maintaining the efficacy of many medical items.

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Regulatory Compliance

The healthcare sector is heavily regulated, necessitating strict adherence to standards to ensure the safety and efficacy of medical products. Healthcare Third-party Logistics providers play a crucial role in managing documentation, quality control, and reporting processes essential for regulatory compliance. Failure to meet regulatory standards can have severe consequences, making these providers indispensable for navigating the complex web of regulations governing the healthcare industry.

Globalization of Pharmaceutical Markets

The globalization of pharmaceutical markets has opened up new opportunities for the healthcare Third-party Logistics industry. With the need to transport products across borders, expertise in international logistics, customs procedures, and compliance with regulatory frameworks is crucial. Providers with a global presence facilitate the expansion of pharmaceutical companies into new markets, contributing to the industry's growth.

Rise of E-commerce

The rise of e-commerce in the healthcare industry has introduced new logistics challenges and opportunities. Online pharmacies and the direct-to-patient delivery model rely heavily on Third-party Logistics providers to manage last-mile delivery processes. These providers ensure timely and secure delivery of medications, medical equipment, and other healthcare products to patients' doorsteps, optimizing the delivery experience.

Major companies operating in Global Healthcare Third-party Logistics Market are:

• Cardinal Health.

• DHL Group

• SF Express

• Kinesis Medical B.V.

• United Parcel Service of America, Inc.

• Barrett Distribution

• AmerisourceBergen Corporation

• KUEHNE + NAGEL

• Kerry Logistics Network Ltd.

• Freight Logistics Solutions

Competitive Analysis

In the competitive landscape of the Global Healthcare Third-party Logistics Market, several factors contribute to the success and dominance of key players:

Service Type: Transportation Dominance

Transportation emerges as the dominant segment in the market, reflecting the global nature of the pharmaceutical and medical device industries. With products frequently moving across borders, providers with expertise in international logistics and regulatory compliance are invaluable. Timely and efficient delivery is crucial, with any disruptions impacting patient care and safety.

Supply Chain: Cold Chain Logistics

The cold chain segment dominates the market, driven by the need to maintain the integrity and efficacy of temperature-sensitive products like vaccines and biologics. Cold chain logistics ensure precise temperature control throughout the supply chain, particularly critical during mass vaccination campaigns such as those for COVID-19. Providers specializing in cold chain logistics play a central role in ensuring the safe and efficient distribution of vaccines.

Regional Distribution: North America's Dominance

North America emerges as the dominant player in the global market, with the largest market share attributed to its extensive pharmaceutical production and distribution network. The region's stringent regulatory standards, such as the FDA in the United States and Health Canada, necessitate compliance with Good Distribution Practices (GDP) and quality control measures. Third-party logistics providers in North America specialize in ensuring regulatory compliance, making them indispensable partners for healthcare companies.

The Global Healthcare Third-party Logistics Market presents significant growth opportunities driven by the growing complexity of healthcare supply chains, regulatory compliance requirements, globalization of pharmaceutical markets, and the rise of e-commerce in the healthcare industry. Key players in the market leverage their expertise in transportation, cold chain logistics, and regional distribution to provide efficient and compliant logistics solutions to pharmaceutical companies, medical device manufacturers, hospitals, and healthcare providers. As the healthcare industry continues to evolve, Third-party Logistics providers will play an increasingly crucial role in ensuring the seamless flow of medical products and optimizing the delivery experience for patients worldwide.

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Trends and insights :

• The rising trend of outsourcing logistics and the increasing use of advanced technology by integrating information between manufacturers, suppliers, retailers, and wholesalers have led to the growth of the industry.

• Pharmaceutical logistics companies are increasingly adopting retrieval systems and automated storage solutions.

• The industry is poised to experience strong expansion throughout the assessment period, fueled by the increasing trend of collaborations between healthcare companies and third-party logistics (3PL) providers.

• For instance, in June 2023, DHL Group announced a new partnership with Vizient Inc., a leading member-directed healthcare performance enhancement organization in the U.S., to establish DHL Supply Chain as an authorized provider of third-party logistics services for supply chain operations.

• Also, in April 2023, AmerisourceBergen Corporation announced the launch of its Cell and Gene Therapy (CGT) Integration Hub, designed to seamlessly integrate with provider-oriented platforms or biopharmaceuticals.

• The COVID-19 pandemic has also boosted the demand for third-party logistics (3PL). During the pandemic, 3PL companies were able to handle the growing demand for healthcare supplies to prevent the pandemic by minimizing supply chain disruptions.

• They also formed close partnerships with suppliers and added specialized value-based services that helped them generate a good profit.

• This growth is driven by the growing distribution networks of biopharmaceutical and medical device companies, the rapid growth of automated storage and retrieval systems, and rising demand for cold chain storage and transport services.

• The market caters to the demand for contract manufacturing and outsourcing services for the development and production of gastroretentive drug delivery systems (GRDDS).

• Collaboration between contract research organizations (CROs), pharmaceutical companies, and regulatory agencies drives innovation and market growth in gastroretentive drug delivery systems outsourcing, supporting accelerated drug development timelines and improved patient compliance and therapeutic outcomes.

 “The Global Healthcare Third-party Logistics Market is poised for significant growth in the coming years. The healthcare industry is becoming increasingly complex, with a growing demand for specialized Logistics services, especially in the transportation of temperature-sensitive pharmaceuticals, biologics, and vaccines. The COVID-19 pandemic has underscored the importance of agile and resilient supply chains, further highlighting the need for efficient Third-party Logistics in healthcare. The rise of e-commerce, direct-to-patient delivery models, and the globalization of pharmaceutical markets are reshaping the industry, creating a surge in demand for tailored Logistics solutions.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Healthcare Third-party Logistics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Industry (Biopharmaceutical, Medical Device, Pharmaceutical), By Service Type (Transportation, Warehousing and Storage, Others), By Supply Chain (Cold Chain, Non-Cold Chain) Region and Competition”, has evaluated the future growth potential of Global Healthcare Third-party Logistics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Healthcare Third-party Logistics Market.

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