Third-party logistics (3PL) is also called logistics outsourcing, is a service provider outsourced by a company in a supply chain management or logistic. Logistics is part of supply chain management, including planning, implementation, delivery, and control which mainly indicates the delivery of goods and services to meet different customer needs. In general, 3PL healthcare logistics refers to a concept of outsourced logistics in the healthcare and pharmaceutical industry, which means managing pharmaceutical, medical, and surgical supplies, medical devices and facilities, and other items acquired, stored, and transported to the customer. Increasing globalization for trade offers manufacturing companies a worldwide networking platform. Thus they rely on third-party logistics to suffice their transportation and packaging.
MARKET SCOPE
The "Global 3PL Healthcare Logistics Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the 3PL healthcare logistics market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading 3PL healthcare logistics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global 3PL healthcare logistics market is segmented into transportation, warehousing, and value added services.
- On the basis of application, the market is bifurcated into pharmaceutical manufacturers, pharmaceutical distributors, and hospital.
MARKET DYNAMICS
Drivers:
- Government initiatives for the development of healthcare infrastructure in rural areas due to the less availability of medical devices and pharmaceutical products and increased government expenditure on logistic infrastructure are expected to fuel the market's growth.
- Pharmaceutical companies majorly use seaborne transportation over railways and airways to outsource the packaging and labeling activities by third-party providers, which boost the 3PL Healthcare Logistics Market.
- Rising research and development activities will also favor the growth of the market.
- Increased technological advancement has made the logistics process more manageable, which will propel market growth.
- The growing e-commerce industry is one of the major drivers for the development of the global 3PL healthcare logistics market as healthcare companies have adopted the online platform to sell their products and do not have their own logistics services, hence, increasing the demand for third party logistics.
Restraints:
- The reluctance of companies and organizations to rely on independent companies to settle with logistics operations.
- Lack of control of manufacturers on logistics service.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The 3PL healthcare logistics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the 3PL healthcare logistics market in these regions.
IMPACT OF COVID-19 ON 3PL HEALTHCARE LOGISTICS MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Travel bans and quarantines, halt of indoor/outdoor activities, temporary shutdown of business operations, supply demand fluctuations, stock market volatility, falling business assurance, and many uncertainties impacted the global third -party logistics market, and it has been observed that the firms that are involved in storage, transportation, and movement of products have been disrupted due to the COVID-19 pandemic. In India, million people are employed in the logistics sector, and it is a leading contributor in the development of the economy. After the complete lockdown imposed to control the spread of virus, the demand for logistics decreased that led to an economic slump. Due to the lockdown and border closure, the movement of goods were restricted and thus negatively impacting the business.
MARKET PLAYERS
The report covers key developments in the 3PL healthcare logistics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from 3PL healthcare logistics market are anticipated to have lucrative growth opportunities in the future with the rising demand for 3PL healthcare logistics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the 3PL healthcare logistics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- DHL Supply Chain and Global Forwarding.
- DB Schenker Logistics.
- Sinotrans.
- DSV Panalpina.
- UPS Supply Chain Solutions.
- Kuehne and Nagel.
- Nippon Express.
- C.H. Robinson Worldwide.
- XPO Logistics.
- Expeditors International of Washington.