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The pharmaceutical logistics market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 9%, as per The Business Research Company’s market report!

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The Pharmaceutical Logistics Market Size In 2022 And Forecast

The global pharmaceutical logistics market is expected to grow from $89.66 billion in 2021 to $98.31 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. 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 pharmaceutical logistics market is expected to grow to $141.20 billion in 2026 at a compound annual growth rate (CAGR) of 9.5%.

The pharmaceutical logistics market consists of the sales of pharmaceutical logistics services by entities (manufacturers, sole traders, and partnerships) that are used in the health system to support the supply of medicinal aids and tools, waste disposal, and other supporting activities related to the process.

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Rise In Demand For Pharmaceutical Products Is Driving The Growth Of The Pharmaceutical Logistics Market

For instance, according to an article by India Brand Equity Foundation, an Indian government export promotion agency, in 2021 the Indian pharmaceutical market increased annually to 17.7% from 13.7% in July 2020. Therefore, a rise in demand for pharmaceutical products is driving the growth of the pharmaceutical logistics market.

Competitive Landscape And The Regional Analysis Of The Pharmaceutical Logistics Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the pharmaceutical logistics market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Pharmaceutical Logistics 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 pharmaceutical logistics 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 pharmaceutical logistics market.

Technological Advancement – A Key Trend In The Pharmaceutical Logistics Market

Major companies operating in the pharmaceutical logistics market are coming up with new technologies such as cloud-based supply chain functions, IoT technology, and others to sustain their position in the market.

Pharmaceutical Logistics Market Segmentation By The Business Research Company

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

Here Are Some Reports Related To The Pharmaceutical Logistics Market –

Healthcare Logistics Global Market Report 2022

Pharmaceutical Processing Seals Global Market Report 2022

Logistics Automation Global Market Report 2022

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