Press release
Rising Need for Efficient Supply Chain Management In Response To Surging Pharmaceutical Product Demand: Key Factor Driving The Growth In The Pharmaceutical Supply Chain Management Market
Pharmaceutical Supply Chain Management
What Is the Expected Pharmaceutical Supply Chain Management Market Size During the Forecast Period?
The market size of pharmaceutical supply chain management has seen significant growth in the past few years. The market is projected to expand from $2.6 billion in 2024 to $2.86 billion in 2025, with a compound annual growth rate (CAGR) of 9.9%. Factors such as regulatory compliance, globalization, risk management, the demand for personalized medicine and sustainability have contributed to this growth in the historic period.
The market size of the pharmaceutical supply chain management is set to experience robust expansion in the coming years, ultimately reaching a value of $3.93 billion in 2029 with a compound annual growth rate (CAGR) of 8.3%. This surge over the forecast period can be linked to factors such as precision medicine, resilience planning, data security, e-commerce involvement, real-time monitoring and visibility, and circular economy strategies. The chief trends during the forecast period consist of digital transition, technological progression, collaboration and visibility, commitment to environmental sustainability, and the adoption of advanced analytics, AI integration, and blockchain technology.
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What Are the High-Growth Segments in the Pharmaceutical Supply Chain Management Market?
The pharmaceutical supply chain management market covered in this report is segmented -
1) By Component: Solution, Service
2) By Deployment Mode: On-Premise, Cloud Based
3) By End-Use: Healthcare Manufacturers, Healthcare Providers, Distributors, Logistics
Subsegments:
1) By Solution: Supply Chain Management Software, Inventory Management Systems, Order Management Systems, Transportation Management Solutions, Warehouse Management Solutions, Track And Trace Solutions, Demand Forecasting Solutions, Cold Chain Monitoring Solutions
2) By Service: Consulting Services, Integration And Implementation Services, Managed Services, Support And Maintenance Services, Logistics And Distribution Services, Training And Education Services
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What Key Drivers Are Expected to Influence Future Pharmaceutical Supply Chain Management Market Growth?
The escalating need for pharmaceutical products is anticipated to fuel the progression of the pharmaceutical supply chain management market. Pharmaceutical products such as medicines and drugs, designed, produced, and circulated for disease prevention, cure or management, are dependent on pharmaceutical supply chain management for effective manufacturing, dispersal, and supervision of medicines. This assures prompt availability of vital healthcare products. For example, as per the data from the European Federation of Pharmaceutical Industries and Associations in June 2023, a Belgian trade and lobbying entity, there was an escalation in the production value of pharmaceuticals in Europe from 347.31 billion USD (323,950 million euros) in 2021 to 364.26 billion USD (340,000 million euros) in 2022, recording an increase of 4.88%. Consequently, the escalating need for pharmaceutical products is set to stimulate the advancement of the pharmaceutical supply chain management market. Pharmaceutical Supply Chain Management Market Driver: Growth in Chronic Diseases Fuel Pharmaceutical Supply Chain Management Market
Which Companies Hold the Largest Share Across Different Pharmaceutical Supply Chain Management Market Segments?
Major companies operating in the pharmaceutical supply chain management market report are McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health Inc., Oracle Corporation, SAP SE, DSV Panalpina, UPS Healthcare, Parexel International Corporation, Spectrum Health Medical Group, Vizient Inc., Catalent Inc., Infor Inc., Epicor Software Corporation, Alvogen Inc., Vetter Pharma International GmbH, Almac Group, Manhattan Associates Inc., Global Healthcare Exchange LLC, CryoPDP, Tecsys Inc., Arvato Supply Chain Solutions, Terso Solution, Logitag Systems, Jump Technologies, Chain.io Inc.
What Trends Are Driving Growth in The Pharmaceutical Supply Chain Management Market?
Leading entities in the pharmaceutical supply chain management market are pioneering novel products, including multi-enterprise supply chain work management solutions to improve supply chain procedures and bolster collaboration across the pharmaceutical supply chain. Multi-enterprise supply chain work management solutions refer to dedicated software or platforms that are aimed at streamlining and enhancing diverse supply chain processes across several organizations within the pharmaceutical industry. For instance, in April 2022, TraceLink Inc., a company based in the US providing supply chain work management solutions, unveiled the TraceLink supply chain work management solution, a multi-enterprise supply chain work management solution for the healthcare and life sciences sectors. This solution is designed to promote collaborative networks among firms and their trade partners and endeavors to boost the effectiveness of integrated supply planning and execution processes by efficiently handling supply chain problems and planning exceptions, such as material shortages, short shipments, and changes in the forecast. The solution offers actionable insight and adjustable business process templates for supply chain management, which leads to enhanced fill rates, cost cuts, and improved supply plan performance.
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What Are the Emerging Geographies for The Pharmaceutical Supply Chain Management Market Growth?
Asia-Pacific was the largest region in the pharmaceutical supply chain management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical supply chain management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Pharmaceutical Supply Chain Management Market?
2. What is the CAGR expected in the Pharmaceutical Supply Chain Management Market?
3. What Are the Key Innovations Transforming the Pharmaceutical Supply Chain Management Industry?
4. Which Region Is Leading the Pharmaceutical Supply Chain Management Market?
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