Future Outlook of the Pharmaceutical Logistics Market: Growth, Trends, and Emerging Opportunities Explored
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What is the Expected Growth Rate of the Pharmaceutical Logistics Market Based on Industry Projections?
In recent times, there has been substantial growth in the size of the pharmaceutical logistics market. It is projected to expand from a worth of $125.6 billion in 2024 to $139.1 billion in 2025, with a compound annual growth rate (CAGR) of 10.8%. Factors such as strict regulations, worldwide expansion of the pharmaceutical trade, temperature-managed logistics, development of e-commerce, and the overall growth of the healthcare sector all contributed to the growth during the historical period.
The scale of the pharmaceutical logistics market is predicted to experience swift expansion in the forthcoming years, potentially reaching $216.57 billion in 2029 with an 11.7% compound annual growth rate (CAGR). This growth during the forecasted period is likely due to expansion strategies in emerging economies, improved risk management approaches, enhanced supply chain visibility, the growing healthcare sector, and progress in cold chain logistics. Key emerging trends in the forecasted period are security and product integrity, optimization of global supply chain networks, initiatives in green logistics, real-time monitoring requirements, and regulatory compliance obligations.
What Are the Primary Drivers Supporting the Growth of the pharmaceutical logistics Market?
The pharmaceutical logistics market is projected to expand due to an increased demand for pharmaceutical products. Medicines intended for human consumption in their final dosage form, regulated by pharmaceutical laws, are classified as pharmaceutical products. The procurement, storage, and resource transportation of these products are managed by logistics. For example, a report by The National Center for Biotechnology Information (NCBI) in July 2024, states that the total pharmaceutical expenditure in the US, in 2023, surged to $722.5 billion, a growth of 13.6% compared to the previous year. Hence, the burgeoning demand for pharmaceutical products fuels the growth of the pharmaceutical logistics market.
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What Companies Are At the Forefront of Innovation in the Pharmaceutical Logistics Market?
Major companies operating in the pharmaceutical logistics market include:
• McKesson Corporation_x000D_
• AmerisourceBergen Corp_x000D_
• Cardinal Health Inc._x000D_
• Deutsche Post AG_x000D_
• FedEx Corp_x000D_
How Are Emerging Trends in Consumer Behavior Affecting the Pharmaceutical Logistics Market?
A notable trend witnessing growth in the pharmaceutical logistics market is facility enlargement. The producers in this sector are emphasizing on facility augmentation to cater to the logistics requirements of the healthcare industry. For example, in May 2023, UPS Healthcare, an organization based in the US that provides healthcare logistics, inaugurated an 8,700 m2 facility in West Singapore. This amplified facility is expected to offer additional services such as packaging, labeling, reverse logistics, and local customs brokerage. Located at Gul Circle, with easy access to PSA Terminals, the manufacturing hub at Tuas Biomedical Park, and the upcoming Tuas seaport, the 8,700-square-meter facility is comprehensive and ready to fulfill the current and potential logistics demands of enterprises in the rapidly growing healthcare industry in Singapore. Remarkably, it comprises temperature-controlled storage facilities, allowing storage of healthcare products at temperatures spanning from -80 degrees to 25 degrees Celsius.
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Which Segments Play a Crucial Role in the Expansion of the Pharmaceutical Logistics Market?
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
Subsegments:
1) By Cold Chain Logistics: Refrigerated Transport, Temperature-Controlled Warehousing, Cold Chain Monitoring Systems, Packaging Solutions For Cold Chain
2) By Non-Cold Chain Logistics: Standard Transport Services, Ambient Warehousing, General Packaging Solutions, Supply Chain Management Services
What Regions Are Propelling Growth in the Pharmaceutical Logistics Industry?
North America was the largest region in the pharmaceutical logistics market in 2024. 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.
How Is the Pharmaceutical Logistics Market Categorized and Defined in the Industry?
Pharmaceutical logistics refers to the integration of information flow, material handling, production, packaging, inventory, and chain management of prescription medicines. Pharmaceutical logistics is a critical component of the healthcare supply chain, focusing on the storage, handling, and transportation of pharmaceutical products.
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