Market Size of United States Pharmaceutical 3PL Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Pharmaceutical 3PL Market Analysis
The US pharmaceutical third-party logistics market is expected to expand at a compound annual growth rate (CAGR) of more than 4% during the forecast period.
Due to COVID-19, the pharma supply chain was impacted by distribution challenges created by reduced transportation capacity. Disruptions at ports, quarantined crews, and labor shortages due to lockdowns are all contributing factors. COVID-19 caused the slowdown of the new pharmaceutical product development due to material shortages, disruptions in clinical trials, and backups in FDA approval.
However, the United States is the world's largest market for temperature-sensitive healthcare products such as biopharmaceuticals, vaccines, and clinical trial materials. The rising number of clinical trials employing various temperature-sensitive materials, such as blood samples, tissue samples, and some drugs, have catalyzed the growth of the market. There are many well-established pharmaceutical companies in the United States. The pharmaceutical industry of the United States alone accounts for almost half of the global pharmaceutical market.
Furthermore, the pharmaceutical 3PL industry is bound by strict rules and regulations. For instance, warehouses and shippers of pharmaceuticals in the United States must be registered with the Food and Drug Administration (FDA). There are no exceptions; even if they are planning a short-term or emergency relationship with a 3PL provider, one must make sure they are approved for storing and transporting pharmaceuticals. In addition, government regulations related to the distribution of pharmaceuticals are codified as part of the CGMPs (Current Good Manufacturing Practices), which is the best practice for the health and safety of consumers.
