The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest pharmaceutical logistics market share in 2022.

The global pharmaceutical logistics market size will grow from $98.94 billion in 2022 to $109.34 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The pharmaceutical logistics market size is expected to grow to $161.98 billion in 2027 at a CAGR of 10.3%.

Major Driver In The Pharmaceutical Logistics Market ­– Rise In Demand For Pharmaceutical Products
Pharmaceutical products are any medicines for human use that are accessible in finished dosage form and are subject to pharmaceutical legislation. Logistics assist pharmaceutical products with resource sourcing, storage, and shipping. According to an article published by India Brand Equity Foundation, an Indian government export promotion body, the Indian pharmaceutical market would grow annually to 17.7% in 2021, up from 13.7% in July 2020. As a result, increased demand for pharmaceutical products is propelling the pharmaceutical logistics industry forward.

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Key Pharmaceutical Logistics Market Segments
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, Speciality Pharma

Recent Pharmaceutical Logistics Market Trend – Technological Advancement
To maintain their market position, major players in the pharmaceutical logistics market are developing new technologies such as cloud-based supply chain functions, IoT technology, and others. For example, United Parcel Service, a shipping, receiving, and supply chain management firm based in the United States, will establish UPS Premier in May 2020 to extend its healthcare logistics. UPS Premier is part of the company’s continuous service and technology improvements. It employs next-generation sensor technologies and monitoring to improve service reliability through priority handling and increased visibility for vital healthcare products. This system represents a significant breakthrough in the management of time-sensitive, temperature-sensitive, and patient-sensitive healthcare shipments.

Pharmaceutical Logistics Market Prominent Players
Major players in the pharmaceutical logistics market are Agility Public Warehousing Company K.S.C.P., Air Canada, CEVA Logistics, DB Schenker, Deutsche Post AG, FedEx Corporation, LifeConEx LLC, Marken, United Parcel Service , Kerry Logistics Network Limited, Panalpina, Kuehne + Nagel International AG, Sofrigam SA, CONTINENTAL Carriers Pvt Ltd and DSV A/S.

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The Pharmaceutical Logistics Global Market Report 2023 provides a comprehensive overview on the pharmaceutical logistics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the pharmaceutical logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Pharmaceutical logistics is the combination of prescription pharmaceutical information flow, material handling, production, packaging, inventory, and chain management.

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