Press release
Soaring Demand Set to Propel Healthcare Distribution Market to $1653.13 Billion by 2029
Healthcare Distribution
What Is the Expected CAGR for the Healthcare Distribution Market Through 2025?
The sector dedicated to healthcare distribution has seen robust expansion over the past several years, with projections indicating its progression from a valuation of $1174.03 billion in the year 2024 to $1243.35 billion in 2025, reflecting a steady compound annual growth rate of 5.9%; this upward trajectory during the historical observation period stems from factors such as the widening scope of medical facilities, the increasing proportion of elderly individuals in the general populace, adherence to regulations, the worldwide spread of medicinal products, and improvements in the efficiency of product delivery networks.
What's the Projected Size of the Global Healthcare Distribution Market by 2029?
Anticipation surrounds the healthcare distribution sector, forecasting robust expansion ahead; by 2029, this market is projected to achieve a valuation of $1653.13 billion, driven by a compound annual growth rate totaling 7.4%, with key factors fueling this advancement being the rise of telehealth and remote patient oversight, the integration of personalized medical treatments, a shift toward value-based care models, enhancements in supply chain fortitude, and increasing focus on environmental sustainability. During this projection timeframe, significant shifts are observable, particularly the heightened importance of cold chain logistics, the expansion of e-commerce platforms and direct-to-consumer sales channels, advancements in tracking and traceability for medical equipment, greater reliance on data analytics for strategic choices, and the implementation of sophisticated inventory management systems.
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Top Growth Drivers in the Healthcare Distribution Industry: What's Accelerating the Market?
Growth within the healthcare distribution sector is anticipated to be fueled by the expansion of the medical device industry moving ahead. This industry encompasses enterprises focused on innovating, producing, and supplying the technologies, apparatus, diagnostic assays, and health data platforms that are revolutionizing patient care via earlier illness identification and minimally invasive interventions. Since the products created by medical device manufacturers necessitate distribution channels to reach healthcare settings, this directly stimulates expansion in the healthcare distribution market. As a concrete example, the India Brand Equity Foundation (IBEF) projected in February 2022 that India's medical device market would surge to a value of $50 billion by 2025, representing a significant escalation from its 2020 valuation of $10.36 billion, exhibiting a compound annual growth rate of 37 percent; consequently, the overall upswing in the medical device industry is directly contributing to the acceleration of the healthcare distribution market.
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What Trends Will Shape the Healthcare Distribution Market Through 2029 and Beyond?
A contemporary shift toward technological progress is currently capturing significant traction within the healthcare distribution landscape, where key industry players are heavily investing in innovations to bolster their standing and satisfy evolving customer expectations. Illustratively, in November of 2022, the American healthcare services firm Cardinal Health Inc. introduced Velocare, an advanced last-mile delivery and supply chain network designed to deliver essential items and support required for hospital-grade care directly to patients' residences within a swift one to two-hour timeframe, with Cardinal Health at-Home Solutions currently deploying this Velocare service alongside Medically Home for one of Medically Home's system clients, thereby enabling the provision of high-acuity care in a scalable manner within the home setting.
What Are the Main Segments in the Healthcare Distribution Market?
The healthcare distributionmarket covered in this report is segmented -
1) By Type: Pharmaceutical Product Distribution Services; Biopharmaceutical Product Distribution Services; Medical Device Distribution Services
2) By End User: Retail Pharmacies; Hospital Pharmacies; Other End-Users
Subsegments:
1) By Pharmaceutical Product Distribution Services: Prescription Drug Distribution; Over-The-Counter (OTC) Drug Distribution
2) By Biopharmaceutical Product Distribution Services: Cold Chain Distribution; Specialty Drug Distribution
3) By Medical Device Distribution Services: Surgical Instrument Distribution; Diagnostic Equipment Distribution; Consumables And Disposable Device Distribution
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Which Top Companies are Driving Growth in the Healthcare Distribution Market?
Major companies operating in the healthcare distribution market include Alliance Healthcare UK, AmerisourceBergen Corporation, Cardinal Health Inc., CuraScript SD, Dakota Drug Inc., FFF Enterprises Inc., Henry Schein Inc., KeySource Medical Inc., Medline Industries LP, Morris and dic*kson Co. LLC, Mutual Drug Company, Owens & Minor Inc., Patterson Companies Inc., PHOENIX Group, Rochester Drug Cooperative Inc., Shanghai Pharmaceutical Group Co. Ltd., Smith Drug Company, TTK Healthcare, Anda Inc., Associated Pharmacies Inc., Besse Medical, Curascript Specialty Distribution, Gulf South Medical Supply, H.D. Smith LLC, Harvard Drug Group LLC, Kinray Inc., MasterPharm SA, McKesson Corporation, Metro Medical Supply, MMS - A Medical Supply Company, Oncology Supply Inc., PSS World Medical Inc., Seneca Medical Inc., TheraCom LLC
Which Regions Will Dominate the Healthcare Distribution Market Through 2029?
North America was the largest region in the healthcare distribution market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare distribution market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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