Healthcare Distribution Market | Ongoing Trends and Recent Developments | Major Key Players like Cardinal Health, Inc. (US), Henry Schein Inc. (US), Smith Drug Company (US)

Healthcare Distribution Market to Expand at a Healthy Growth Rate in the Coming Years
Rising incidence of chronic diseases, growing importance of generics, rising adoption of track & trace solutions, and the growth of the medical device industry. In addition, emerging markets such as China and India, growth in the biosimilars market, increasing specialty drug dispensing, and increasing uptake of biopharmaceuticals are expected to offer potential growth opportunities to market players in the coming years. However, the increasing pricing pressure on market players is a major factor that is expected to impact market growth in the coming years.

What the Market Looks Like?

Predicted to grow at a CAGR of 6.5% during the forecast period, the global healthcare distribution market is estimated to reach USD 1048.4 Billion by the end of 2024. North America dominated the healthcare distribution market in 2018.

On the basis of type, the healthcare distribution market is segmented into pharmaceutical product distribution services, medical device distribution services, and biopharmaceutical product distribution services. In 2018, the pharmaceutical product distribution services segment accounted for the largest share of the market majorly due to the increasing production of pharmaceutical formulations, rising pharmaceutical R&D expenditure, outsourcing of pharmaceutical manufacturing to Asian countries, and the establishment of new manufacturing facilitates by global pharmaceutical giants in newer geographies.

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On the basis of end user, the healthcare distribution market is segmented into retail pharmacies, hospital pharmacies, and other end users. The retail pharmacies segment accounted for the largest share of the market in 2018. These pharmacies deal with a large volume of prescriptions on a daily basis. Moreover, in the US and other developed countries, the implementation of programs to ensure affordable healthcare for citizens has significantly increased the volume of prescriptions in retail pharmacies.

What Drives the Market?

The growth of the global market for healthcare distribution is primarily influenced by the following factors:

• High Incidence and Large Economic Burden of Chronic Diseases
• Favorable R&D Investment Scenario and Subsequent Increase in Drug Launches
• Growth of Track & Trace Solutions
• Growing Importance of Generics
• Growth of the Medical Devices Industry

Moreover, in the US and other developed countries, the implementation of programs to ensure affordable healthcare for citizens has significantly increased the volume of prescriptions in retail pharmacies.

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Geographical growth scenario of Healthcare Distribution Market:

Geographically, the healthcare distribution market has been studied for North America, Europe and Asia Pacific. In 2018, North America dominated the healthcare distribution market, followed by Europe.

The presence of a large number of pharmaceutical and biotechnology companies and medical device manufacturers in the region, growing incidence of chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, stringent regulations regarding distribution, and the presence of advanced healthcare infrastructure are the major factors driving market growth in North America.

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Leading market players and strategies adopted:

The major players operating in the healthcare distribution market are McKesson Corporation (US), AmerisourceBergen Corporation (US), Cardinal Health, Inc. (US), Owens & Minor, Inc. (US), Morris and Dickson Co., LLC (US), KeySource Medical, Inc. (US), Rochester Drug Cooperative, Inc. (US), Henry Schein Inc. (US), Smith Drug Company (US), FFF Enterprises (US), Patterson Companies Inc. (US), Mutual Drug (US), Shanghai Pharmaceutical Group Co., Ltd. (China), Medline Industries (US), PHOENIX Group (Germany), and CuraScript SD (US).

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