Healthcare Third-party Logistics Market Set to Reach $415.24 Billion by 2032

Report Overview

The global healthcare third-party logistics market size is expected to reach USD 415.24 billion by 2032, according to a new study by Polaris Market Research. The report “Healthcare Third-party Logistics Market Share, Size, Trends, Industry Analysis Report, By Type (Pharmaceutical, Biopharmaceutical, Medical Device); By Service; By Supply Chain; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global healthcare third-party logistics market is poised for significant growth. With the continuous evolution of technology, 3PL companies are pioneering more efficient strategies to engage consumers, thus fueling market expansion. Additionally, the pharmaceutical and medical device sectors are intensifying their focus on fortifying their distribution networks to stay competitive and bolster sales figures, serving as pivotal drivers for the market.

In light of the escalating COVID-19 cases and international infection rates, establishing a robust healthcare supply chain system is paramount. Third-party logistics (3PL) providers have emerged as vital connectors, bridging market demand with reliable producers worldwide. Some 3PL entities also offer support to relatively small-scale merchants, providing procurement, transportation, and storage services.

Do you have any questions? Would you like to request a sample or make an inquiry before purchasing this report? Simply click the link below: https://www.polarismarketresearch.com/industry-analysis/healthcare-third-party-logistics-market/request-for-sample

The market is experiencing substantial growth, propelled by the burgeoning e-commerce sector. Healthcare enterprises are turning to online platforms for product sales, leveraging them as an alternative to establishing their own logistics services. This surge in demand is driving the need for third-party logistics solutions. Furthermore, the continuous advancement of technology in this domain presents lucrative opportunities for market expansion. The integration of cutting-edge technologies like real-time tracking systems, the Internet of Things (IoT), and blockchain is gaining traction in healthcare logistics. These innovations facilitate efficient shipment tracking, heightened visibility, and ensure product integrity, ultimately enhancing supply chain management and elevating the overall customer experience.

However, one of the key restraints in the healthcare third-party logistics market is the stringent regulatory environment. The healthcare industry is highly regulated, and compliance with numerous standards and guidelines is essential. 3PL providers must navigate complex and ever-evolving regulations, which often require significant investments in compliance management and documentation. This can increase operational costs and pose challenges in adapting to changing requirements. Security concerns, including the need to safeguard sensitive patient data and pharmaceutical products from theft and tampering, further add to the regulatory burden. Successfully managing these regulatory intricacies is a significant restraint in the healthcare third-party logistics market.

Growth Drivers:

Rising Global Healthcare Expenditure:

The increasing global expenditure on healthcare has created a demand for cost-effective and efficient logistics solutions. Healthcare providers are looking to optimize their supply chains to reduce operational costs, and third-party logistics providers offer specialized expertise in achieving this goal. The continuous growth in healthcare spending worldwide is a major driver propelling the expansion of the 3PL market.

Advancements in Technology and Digitalization:

The integration of advanced technologies, such as Internet of Things (IoT), blockchain, and artificial intelligence, has revolutionized the healthcare logistics landscape. These technologies enhance visibility, traceability, and real-time monitoring of pharmaceuticals and medical devices during transportation. 3PL providers leveraging these technological advancements are well-positioned to meet the evolving needs of the healthcare industry, driving market growth.

Focus on Regulatory Compliance and Quality Assurance:

Stringent regulatory requirements in the healthcare sector necessitate compliance at every stage of the supply chain. Third-party logistics providers specialize in navigating complex regulatory landscapes, ensuring that pharmaceuticals and medical supplies adhere to quality standards and safety regulations. As the healthcare industry places an increasing emphasis on compliance, 3PL providers are witnessing heightened demand for their services.

Healthcare Third-party Logistics Market Report Highlights

• Pharmaceutical segment is expected to grow at a highest CAGR during the projected period, on account of technological advancements
• Warehousing and storage segment accounted for largest market share in 2022, which is mainly driven by increasing need for specialized storage solutions
• Cold chain logistics segment held the significant market revenue share in 2022, mainly due to stringent quality controls
• North America region dominated the market with majority share in 2022, owing to advanced healthcare infrastructure in this region
• The global key market players include CEVA Logistics, DHL Supply Chain, Expeditors International of Washington Inc., FedEx Corporation, Kuehne + Nagel International AG, Nippon Express Co., Ltd.

Some of The Top Key Players

• CEVA Logistics
• DHL Supply Chain
• Expeditors International of Washington Inc.
• FedEx Corporation
• Kuehne + Nagel International AG
• Nippon Express Co., Ltd.
• Panalpina World Transport (Holding) Ltd.
• Penske Logistics
• Ryder System, Inc.
• SF Express Co., Ltd.
• Sinotrans Limited
• UPS Healthcare
• XPO Logistics, Inc.
• Yusen Logistics Co., Ltd.
• Zhenhua Logistics Group Co., Ltd.

Customization Request for the Research Report: https://www.polarismarketresearch.com/press-releases/healthcare-third-party-logistics-market

Polaris Market Research has segmented the healthcare third-party logistics market report based on type, service, supply chain, and region:

Healthcare Third-party Logistics, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Pharmaceutical
• Biopharmaceutical
• Medical Device

Healthcare Third-party Logistics, Service Outlook (Revenue - USD Billion, 2019 - 2032)

• Warehousing and Storage
• Transportation
• Others

Healthcare Third-party Logistics, Supply Chain Outlook (Revenue - USD Billion, 2019 - 2032)

• Cold Chain Logistics
• Non-Cold Chain Logistics

Healthcare Third-party Logistics, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Asia Pacific
• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Latin America
• Argentina
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Saudi Arabia
• Israel
• South Africa

About Us:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Contact Us:

Polaris Market Research

30 Wall Street, 8th Floor,

New York City, NY 10005,

United States

Phone:+1-929 297-9727