Healthcare Third-party Logistics Market Size Worth $415.24 Billion By 2032 | CAGR: 7.4%

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.

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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.

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.

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

Healthcare Third-party Logistics Market Report Scope