JULY 2022LIFE SCIENCES REVIEW6Gone are those days when large life sciences and pharmaceutical manufacturers used to build large, dedicated warehouse facilities to store their products for shipping them to customers. The complexity of the supply chain, global geopolitical events, and the presence of complex regulations have driven these manufacturers to outsource their supply chain operations to third-party logistics (3PL) providers. Needless to say, 3PL service providers have stood to their promise by ensuring the seamless delivery of products while addressing all the critical requirements. This has contributed to the immense growth of the global biopharmaceutical third-party logistics market. According to reports, this market was $119.8 billion in 2021 and will expand at a compound annual growth rate of 5.9 percent by 2030.Despite such a tremendous growth of the market and life sciences and pharmaceutical manufacturers' growing reliance on third-party 3PL providers, many businesses are still struggling to find the right partner for their needs. Given that life sciences is different from manufacturing and high tech, organizations need to ensure that their 3PL partner is committed to the life sciences vertical and holds extensive experience in managing the life sciences supply chain. They also need to conduct an in-depth analysis to understand 3PL service providers' commitment to quality assurance programs. More importantly, there is a need to look into the financial health of the 3PL by conducting comprehensive due diligence.Considering the busy schedule of life sciences and pharmaceutical manufacturers, conducting all these analyses is no easy task. In this edition of Life Sciences Review, our goal is to take that burden from the manufacturers by offering them a comprehensive overview of this space and some of the most innovative companies that are changing the status quo of the market.Let us know your thoughts.EDITORIALThe Changing Facets of 3PL in Life Sciences SectorCopyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Email:sales@lifesciencesreview.comeditor@lifesciencesreview.commarketing@lifesciencesreview.com JULY - 25 - 2022, Vol 03, Issue - 14 (ISSN 2831-8331) Published by ValleyMedia, Inc.To subscribe to Life Sciences ReviewVisit www.lifesciencesreview.com Editorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasVisualizersRonald DonovanDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOsJeremy WilliamsManaging Editoreditor@lifesciencesreview.comManaging EditorJeremy WilliamsSalesStephen Thomassales@lifesciencesreview.comVictor Cruz
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