Global Pharmaceutical Logistics Market Size To Worth USD 191.18 Billion By 2033 | CAGR Of 7.64%
Category: HealthcareGlobal Pharmaceutical Logistics Market Size To Worth USD 191.18 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Pharmaceutical Logistics Market Size is Expected to Grow from USD 91.60 Billion in 2023 to USD 191.18 Billion by 2033, at a CAGR of 7.64% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 110 Market data tables and figures & charts from the report on the "Global Pharmaceutical Logistics Market Size, Share, and COVID-19 Impact Analysis, By Offering (Cold Chain, Non-cold Chain), By Service (Transportation, Storage, Monitoring), By Application (Biopharma, Chemical Pharma, Specialty Pharma), By Mode Of Transportation (Air, Sea, Road, Rail), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/pharmaceutical-logistics-market
Pharmaceutical logistics is a complex and ever-evolving system that involves inventory management, transporting, and storing medications. Pharmaceutical logistics is the process of moving pharmaceuticals from manufacturer to end user. It is a critical component of the entire pharmaceutical growth supply chain. Pharma logistics improves efficiency, quality, productivity, and customer satisfaction. The pharmaceutical logistics system ensures that drugs are delivered securely, safely, and on time, while preserving product purity. Furthermore, pharma logistics must adhere to all applicable regulatory criteria for the safe and secure distribution of pharmaceuticals. Organizations must invest resources and IT infrastructure to meet stringent industry standards, ensuring that their supply chain functions smoothly. It entails maintaining quality control and complying with all applicable regulations. Pharma logistics works to provide an efficient supply chain that meets client needs and ensures customer satisfaction. The pharmaceutical logistics industry is driven by a complex interplay of variables such as severe regulatory requirements, supply chain globalization, increased demand for cold chain logistics due to temperature-sensitive medicines, and the rise of e-commerce and direct-to-patient models. Technological innovations such as IoT and blockchain, rising global healthcare spending, emphasis on risk management and security, sustainability initiatives, and collaborative planning. However, the pharmaceutical logistics industry confronts challenges due to the high operational costs of maintaining temperature-controlled facilities and meeting tight regulatory criteria. Complex handling requirements for sensitive drugs, worldwide supply chain challenges, risks of product spoiling, and competitive market dynamics all limit market growth.
The non-cold chain segment is predicted to hold the largest market share through the forecast period.
Based on the offering, the pharmaceutical logistics market is classified into the cold chain and non-cold chain. Among these, the non-cold chain segment is predicted to hold the largest market share through the forecast period. A substantial number of drugs do not require stringent temperature control during transportation and storage. This includes over-the-counter drugs, some antibiotics, and a wide range of generic pharmaceuticals. Non-cold chain items can be carried and stored using regular logistics infrastructure, eliminating the need for specialist equipment, temperature-controlled facilities, and specific handling techniques while cutting operational costs for logistics businesses.
The storage segment is anticipated to hold the highest market share during the projected timeframe.
Based on the service, the pharmaceutical logistics market is divided into transportation, storage, and monitoring. Among these, the storage segment is anticipated to hold the highest market share during the projected timeframe. The constantly expanding demand for generic and branded pharmaceutical medicines has produced a significant need for storage facilities to preserve and acquire the efficacy of these items after production and subsequent distribution via various routes to distributors and retailers. Furthermore, the persistent viral infection has boosted the demand for temperature-sensitive storage facilities to retain immunizations at the appropriate temperature during logistics.
The biopharma segment is anticipated to hold the greatest share of the pharmaceutical logistics market during the projected timeframe.
Based on the application, the pharmaceutical logistics market is categorized into biopharma, chemical pharma, and specialty pharma. Among these, the biopharma segment is anticipated to hold the greatest share of the pharmaceutical logistics market during the projected timeframe. Biopharmaceutical products, which include biologics, vaccines, and other complicated medicines, necessitate strict temperature control and specialist handling throughout the supply chain. The global growth in cancer, autoimmune disorders, and diabetes has created an increasing demand for biopharmaceuticals, which are often the major therapy alternatives for these conditions.
The sea segment is estimated to grow at the fastest CAGR growth through the projected period.
Based on the mode of transportation, the pharmaceutical logistics market is categorized into air, sea, road, and rail. Among these, the sea segment is estimated to grow at the fastest CAGR growth through the projected period. Several factors contribute to the rise, including sea transport's ability to handle huge volumes of pharmaceutical items, its cost-effectiveness when compared to air transport for some types of shipments, and advances in maritime logistics infrastructure and technology. The sea segment's capacity to meet the growing demand for efficient and dependable delivery of pharmaceuticals contributes to its predicted market growth.
North America is estimated to hold the largest share of the pharmaceutical logistics market over the forecast period.
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North America is estimated to hold the largest share of the pharmaceutical logistics market over the forecast period. The region's growth is driven by rising demand for pharmaceutical products, particularly vaccines and specialized medications. The United States boasts the world's largest pharmaceutical market, with a robust ecosystem of research institutes and pharmaceutical companies, as well as a high volume of medicine discovery and production. North America's high healthcare spending promotes demand for a wide range of pharmaceutical items, necessitating effective delivery infrastructure.
Asia Pacific is predicted to have the highest CAGR growth in the pharmaceutical logistics market over the forecast period. The Asia Pacific region is predicted to be the fastest-growing region due to rapid economic growth in emerging economies such as China and India. The huge population's increasing need for over-the-counter drugs is expected to drive growth in the Asia Pacific pharmaceutical logistics market. Furthermore, the pharmaceutical industry is seeing geographical shifts in production and sales locations.
Major key players in the pharmaceutical logistics market include DHL, Kuehne + Nagel, FedEx, United Parcel Service of America, Inc., DB Schenker, LifeConEx, Marken, VersaCold Logistics Services, Ceva Logistics, Yusen Logistics, Tiong Nam, Abiomed, AtriCure, World Courier, and Others.
Recent Developments
- In March 2024, Noramco will establish a North American pharmaceutical supply chain services provider that will reduce logistics costs and boost regulatory compliance.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the pharmaceutical logistics market based on the below-mentioned segments:
Global Pharmaceutical Logistics Market, By Offering
- Cold Chain
- Non-cold Chain
Global Pharmaceutical Logistics Market, By Service
- Transportation
- Storage
- Monitoring
Global Pharmaceutical Logistics Market, By Application
- Biopharma
- Chemical Pharma
- Specialty Pharma
Global Pharmaceutical Logistics Market, By Mode of Transportation
- Air
- Sea
- Road
- Rail
Global Pharmaceutical Logistics Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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