The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Pharmaceutical Logistics Global Market Report 2024, the pharmaceutical logistics market is expected to show significant growth in the forecast period.

The pharmaceutical logistics market has experienced remarkable growth in recent years and is poised for continued expansion. With stringent regulations, globalization, and advancements in logistics technology, the industry is set to reach new heights.

Recent Growth and Future Projections

Rapid Growth in Recent Years

• Market Size in 2023: $112.31 billion
• Projected Size in 2024: $124.81 billion
• CAGR: 11.1%

Factors contributing to this growth include stringent regulations, the globalization of pharmaceutical trade, temperature-controlled logistics, e-commerce expansion, and the overall growth of the healthcare industry.

Future Projections

• Expected Market Size in 2028: $191.18 billion
• CAGR: 11.2%

The forecasted growth can be attributed to:

• Market expansion in developing countries
• Risk mitigation strategies
• Enhanced supply chain visibility
• Healthcare industry expansion
• Advancements in cold chain logistics

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Key Trends and Drivers

Surging Demand for Pharmaceutical Products

The increasing demand for pharmaceutical products significantly boosts the logistics market. Pharmaceutical logistics ensure the procurement, storage, and transportation of medicines, crucial for meeting global health needs.

• Example: In 2021, the Indian pharmaceutical market grew by 17.7%, demonstrating the increasing demand for pharmaceutical products globally.

Focus on Security and Product Integrity

Ensuring the security and integrity of pharmaceutical products throughout the supply chain is a major trend. This includes implementing advanced tracking and monitoring systems to prevent counterfeit drugs and ensure compliance with stringent regulations.

Global Supply Chain Network Optimization

Companies are optimizing their global supply chain networks to enhance efficiency and reduce costs. This involves strategic placement of logistics hubs and improved transportation routes.

Green Logistics Initiatives

Sustainability is becoming a key focus, with companies adopting green logistics practices to reduce their carbon footprint. This includes using eco-friendly packaging materials and optimizing routes to minimize emissions.

Demand for Real-Time Monitoring

Real-time monitoring of pharmaceutical shipments is crucial for maintaining product quality. Advanced technologies enable continuous tracking of temperature, humidity, and other conditions during transit.

Regulatory Compliance Demands

Adhering to regulatory requirements is paramount in the pharmaceutical logistics market. Companies must ensure compliance with international standards to avoid penalties and maintain product integrity.

Major Players in the Market

The pharmaceutical logistics market is dominated by major companies such as:

• McKesson Corporation
• AmerisourceBergen Corp
• Cardinal Health Inc.
• Deutsche Post AG
• FedEx Corp
• Kuehne + Nagel International AG
• SF Holding Co Ltd.
• CR Pharmaceutical Group Ltd.

These companies are investing in advanced logistics solutions to meet the growing demands of the pharmaceutical industry.

Facility Expansion Trends

UPS Healthcare’s New Facility

Facility expansion is a significant trend in the pharmaceutical logistics market. For instance, in May 2023, UPS Healthcare opened a new 8,700 m² facility in West Singapore. This facility offers:

• Packaging and labeling services
• Return logistics
• Local customs brokerage
• Temperature-controlled storage capabilities (ranging from -80°C to 25°C)

Lineage Logistics’ Acquisition of MTC Logistics

In March 2022, Lineage Logistics LLC expanded its cold storage footprint by acquiring MTC Logistics. This acquisition added four cold storage facilities along the U.S. East and Gulf Coasts, enhancing Lineage’s capacity to handle pharmaceutical logistics.

Market Segmentation

The pharmaceutical logistics market can be segmented by:

• Type: Cold Chain Logistics, Non-Cold Chain Logistics
• Component: Storage, Transportation, Monitoring Components
• Procedure: Picking, Storage, Retrieval Systems, Handling Systems
• Transportation: Sea Freight, Air Freight, Overland
• Application: Bio Pharma, Chemical Pharma, Specialty Pharma

Regional Insights

• Largest Market in 2023: North America
• Fastest-Growing Region: Asia-Pacific (forecast period)

Conclusion

The pharmaceutical logistics market is on a robust growth trajectory, driven by increasing demand for pharmaceutical products, advancements in logistics technology, and the expansion of the healthcare industry. With major trends focusing on security, sustainability, and real-time monitoring, the market is set to play a crucial role in the global supply chain for pharmaceutical products.

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