Global Pharmaceutical Logistics Market Size is estimated to expand rapidly in coming years, at a CAGR of 7.4 % from 2018 to 2027. In 2019, the global market valuation was USD 70.7 billion, and it is anticipated to be greater than USD xx. xx billion by 2027. The market growth is attributed to the increasing demand for household healthcare products and raising the importance of fast-track assistance.
Due to the low availability of pharmaceutical products and medical devices in rural areas, governments are taking initiatives to improve the health infrastructure. This is one of the main growth drivers for the healthcare logistics market. Furthermore, growing global pharmaceutical sales and new product launches by pharmaceutical manufacturers, such as over-the-counter drugs, are expected to increase during the forecast period. Many pharmaceutical companies and research institutes are actively engaged in the research and development of treatments for COVID-19. Over-the-counter drug and generic drug manufacturers are focusing on the development of specific medicine for treating minor alignments, which will further help boost sales.
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Rising fuel costs have made pharmaceutical companies to choose seaborne shipments. The preference for seaborne shipments and the growing initiatives to promote cold chain logistics are a few major factors that are expected to promote the growth of the market. Various pharmaceutical companies are preferring seaborne transportation over air or roadways. For instance, AstraZeneca, a leading multinational pharmaceutical company, shifted around 65% of its product transportation to seaborne transportation that will have a positive impact on the seaborne transportation type.
This global pharmaceutical logistics market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global pharmaceutical logistics market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2030. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global pharmaceutical outsourcing market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
The key purpose of the report is to provide a growth map of the healthcare logistics market and hence assist the client's in the formulation of required strategies to meet the business goals. Thus, there are many qualitative and quantitative tools used for growth mapping of the market. These include PESTEL analysis for various regions involved in the market, SWOT analysis of the industry, PORTER'S five forces for determination of different attributes such as the power of the buyer and supplier engaged in the market, the threat of substitution, the intensity of competition, and the threat of the new entrants in the market.
Based on service, the market is divided into transportation and warehousing. Among these, the transportation segment is expected to dominate the global healthcare logistics market. Increasing government expenditure and a growing number of patent expiration are anticipated to propel the growth of the market. Moreover, the warehousing segment is projected to register significant growth in the forecast period.
Based on the product, the market is divided into pharmaceutical products and medical devices. Among these, the pharmaceutical products segment accounted for the largest market share among others. Several companies such as Amgen Inc., CalciMedica Inc., are currently engaged in the research and development of treatments for COVID-19, which involves the use of various drugs and medicinal compounds. These drugs and medicinal compounds need to be transported using a secure cold chain solution, which is expected to boost the market for pharmaceutical product logistics.
The impact of COVID-19 on the market is a critical factor for pharmaceutical products’ fast growth across the globe. Amid the pandemic, governments around the world are emphasizing on healthcare facilities and wide medicinal supplies for patients.
Based on regions, the healthcare logistics market is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region is to hold the largest share of this market in the forecast period due to the low labor costs and low manufacturing costs, which enable investors to plan their future projects and investments in this region. Moreover, the pharmaceutical industry is undergoing a geographic shift in production and sales locations. The market players are finding lucrative opportunities in the developing economies in Asia and South America, which is in turn expected to boost the market growth in these regions.
Furthermore, the presence of developed and developing countries with developed infrastructure and medical benefits in the region is expected to boost the market growth. The increased emphasis on elderly care and home-based healthcare services has resulted in increased demand for medical drugs and devices in this region. The North America region is also anticipated to witness significant growth in the forecast period.
Key Companies & Market Share Insights
Prominent players operating in the global pharmaceutical logistics market are Longistics, Kuehne + Nagel, Genco, Arich Enterprise Co., Ltd, DB Schenker, DSV, DHL, Mainfreight Ltd, Bio Pharma Logistics Kerry Logistics Network Limited, Zuellig Pharma Asia Pacific Ltd, , Thermotraffic, DKSH, Bestchain Healthtaiwan, Movianto, and FedEx amongst others.
What was the value of the Global Market in 2019?
The global Pharmaceutical Logistics Market valuation was USD 70.7 billion, and it is anticipated to be greater than USD xx.xx billion by 2027
At what CAGR the Market projected to grow in the forecast period (2020-2027)?
Global Pharmaceutical Logistics Market Size is estimated to expand rapidly in coming years, at a CAGR of 7.4 % from 2018 to 2027 (2020-2027)
Which is the leading type segment in the Global Market?
The healthcare logistics market is segmented based on service, product, and region.
Who are the top players in Global Marketplace?
Longistics, Kuehne + Nagel, Genco, Arich Enterprise Co., Ltd, DB Schenker, DSV, DHL, Mainfreight Ltd, Bio Pharma Logistics Kerry Logistics Network Limited, Zuellig Pharma Asia Pacific Ltd, , Thermotraffic, DKSH, Bestchain Healthtaiwan, Movianto, and FedEx amongst others.
Which region is expected to hold the highest market share in the Market?
North America is expected to hold the highest market share in the global market.
What is Market Trend?
Innovation and product development with microbe-based ingredients is an emerging trend in the global market.
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