Transition from small molecule medications to biopharmaceutical products seems imminent in coming years, which is expected to bolster the booming biopharmaceutical third party logistics market. As biopharmaceutical products, especially vaccines and biologics are most commonly temperature sensitive in nature, there is anticipated to be an increase in the requirement of temperature-controlled transportation and storage solutions. This trend is expected to fuel the growth in global biopharmaceutical third party logistics market in coming years. Other motivators for the biopharmaceutical third party logistics market include player focus of expanding their distribution systems in order to boost sales and increased adoption of automated storage and retrieval systems.
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One of the crucial trends motivating the global biopharmaceutical third party logistics market is the rising preference for outsourcing logistics operations in biopharmaceutical market. Integration of advanced technological solutions that enable real time tracking of shipments, mobile cloud computing, warehouse automation, and enhanced data mining is also favorable for the growth of global biopharmaceutical third party logistics market in near future.
Rise in Biopharmaceutical Exports and Imports Fuels North America Biopharmaceutical Third Party Logistics Market
The biopharmaceutical third party logistics market in North America is expected to foresee a substantial rise in coming years owing to growth of exports and imports in biopharmaceutical market and increased medical and healthcare expenditure in the region. Other factors boosting the biopharmaceutical third party logistics market in region include presence of major incumbent players and easier integration possibilities of newer technologies in technologically superior healthcare infrastructure in North America.
The global biopharmaceutical third party logistics market witnesses a fiercely competitive landscape with a large number of players in the industry. Major players in the biopharmaceutical third party logistics market are observed to be consolidating in key countries in the world in order to acquire new technologies from local players to expand their global footprint. Some of the major players in global biopharmaceutical third party logistics market include United Parcel Service of America, AmeriSource Bergen Corporation, FedEx Corporation, Kuehne + Nagel International AG, DHL International GmbH, and Kerry Logistics Network Limited.
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