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Pharmaceutical Logistics Market: Comprehensive Outlook on Market Size, Share, Key Segments, Growth Drivers, and Technological Advancements
Pharmaceutical Logistics Market
Pharmaceutical Logistics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $191.18 billion In 2028 At A CAGR Of 11.2% :
The pharmaceutical logistics market size has grown rapidly in recent years. It will grow from $112.31 billion in 2023 to $124.81 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to stringent regulations, globalization of pharmaceutical trade, temperature-controlled logistics, e-commerce expansion, healthcare industry growth.
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.
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Pharmaceutical Logistics Market Major 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 Driver - 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.
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Prominent Trend - 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.
Pharmaceutical Logistics Market Players
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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the pharmaceutical logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pharmaceutical Logistics Market Report Structure
3. Pharmaceutical Logistics Market Trends And Strategies
4. Pharmaceutical Logistics Market - Macro Economic Scenario
5. Pharmaceutical Logistics Market Size And Growth
…..
27. Pharmaceutical Logistics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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