Global Healthcare Distribution Market 2022 – Market Opportunities And Strategies
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The healthcare distribution market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 7%, as per The Business Research Company’s market report!
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The Healthcare Distribution Market Size In 2022 And Forecast
The global healthcare distribution market is expected to grow from $915.65 billion in 2021 to $1001.00 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The healthcare distribution market is expected to grow to $1334.51 billion in 2026 at a CAGR of 7.5%.
The healthcare distribution market consists of sales of healthcare products and related services by entities (manufacturers, sole traders, and partnerships) that are used for distributing drugs, medical equipment, and other products.
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Rise Of The Medical Device Industry Is Driving The Growth Of The Healthcare Distribution Market
For instance, in February 2022, according to the India Brand Equity Foundation (IBEF), an India-based government brand equity foundation, the medical device market in India is expected to reach $ 50 billion in 2025, an increase of a 37% CAGR from $10.36 billion in 2020. Therefore, the rise of the medical device industry is driving the growth of the healthcare distribution market.
Competitive Landscape And The Regional Analysis Of The Healthcare Distribution Market
Major players in the healthcare distribution market are McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health Inc., Owens & Minor Inc., Morris and Dickson Co. LLC, KeySource Medical Inc., Rochester Drug Cooperative Inc., Henry Schein Inc., Smith Drug Company, FFF Enterprises Inc., Patterson Companies Inc., Mutual Drug, Shanghai Pharmaceutical Group Co. Ltd., Medline Industries LP, PHOENIX Group, CuraScript SD, Dakota Drug Inc., TTK Healthcare, Systems Private Limited, and Alliance Healthcare UK.
Additionally, as per TBRC’s research – North America was the largest region in the healthcare distribution market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Healthcare Distribution Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the healthcare distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the healthcare distribution market.
Technological Advancement – A Key Trend In The Healthcare Distribution Market
Major companies operating in the healthcare distribution sector are focused on technological advancements to reinforce their position and meet consumer demand.
Healthcare Distribution Market Segmentation By The Business Research Company
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
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