Press release
Pharmaceutical Logistics: Shaping the Future Market Landscape
Pharmaceutical Logistics
The pharmaceutical logistics market size is expected to see rapid growth in the next few years. It will grow to $191.18 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to market expansion in developing countries, risk mitigation strategies, supply chain visibility enhancement, healthcare industry expansion, advancements in cold chain logistics. Major trends in the forecast period include focus on security and product integrity, global supply chain network optimization, green logistics initiatives, demand for real-time monitoring, regulatory compliance demands.
Market Overview -
Pharmaceutical logistics refers to the integration of information flow, material handling, production, packaging, inventory, and chain management of prescription medicines.
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Surging Demand For Pharmaceutical Products Fuels Growth In The Pharmaceutical Logistics Market
The rise in demand for pharmaceutical products is expected to propel the growth of the pharmaceutical logistics market going forward. Pharmaceutical products refer to any medicine that is for human use that is available in finished dosage form and is controlled by pharmaceutical legislation. Logistics help pharmaceutical products handle the procurement, storage, and transportation of resources. For instance, according to an article by India Brand Equity Foundation, an Indian government export promotion agency, in 2021 the Indian pharmaceutical market increased annually to 17.7%. Therefore, a rise in demand for pharmaceutical products is driving the growth of the pharmaceutical logistics market.
Competitive Landscape -
Major companies operating in the pharmaceutical logistics market report are McKesson Corporation, AmerisourceBergen Corp, Cardinal Health Inc., Deutsche Post AG, FedEx Corp, Kuehne + Nagel International AG, SF Holding Co Ltd., CR Pharmaceutical Group Ltd., DSV Panalpina A/S, Schenker AG, C.H. Robinson Worldwide Inc., Alfresa Holdings Corp, Nippon Express Co Ltd., Air Canada Inc., Kerry Logistics Network Limited, Lineage Logistics Holding LLC., Flexport Inc., Nichirei Logistics Group Inc., Mainfreight Ltd., Americold Logistics LLC., NFI Industries Inc., Agility Public Warehousing Company K.S.C.P., Profarma Distribuidora de Produtos Farmaceuticos S.A., United States Cold Storage Inc., NewCold Advanced Cold Logistics BV, Cloverleaf Cold Storage Co, Kingworld Medicines Group Ltd, CEVA Logistics AG, Kloosterboer Group BV., MEDIPAL HOLDINGS Corp, B.C. Ice & Cold Storage Co
Facility Expansion Trends In Pharmaceutical Logistics
Facility expansion is a key trend gaining popularity in the pharmaceutical logistics market. The manufacturers in this market are focusing on expanding their facilities to support the logistics needs of the healthcare sector. For instance, in May 2023, UPS Healthcare, a US-based provider of healthcare logistics, opened an 8,700 m2 facility in West Singapore. The expanded facility is poised to provide supplementary services including packaging, labeling, return logistics, and local customs brokerage. Situated at Gul Circle, conveniently accessible to PSA Terminals, the manufacturing cluster at Tuas Biomedical Park, and the forthcoming seaport at Tuas, the 8,700-square-meter facility is well-equipped to meet the current and future logistics requirements of businesses in the burgeoning healthcare sector in the country. Notably, it boasts temperature-controlled storage capabilities, accommodating healthcare products within a range of -80 degrees to 25 degrees Celsius.
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Key Segments -
The pharmaceutical logistics market covered in this report is segmented -
1) By Type: Cold Chain Logistics, Non-Cold Chain Logistics
2) By Component: Storage, Transportation, Monitoring Components
3) By Procedure: Picking, Storage, Retrieval Systems, Handling Systems
4) By Transportation: Sea Freight, Air Freight, Overland
5) By Application: Bio Pharma, Chemical Pharma, Specialty Pharma
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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