pharmaceutical logistics market
Healthcare Services

What Will The Pharmaceutical Logistics Market Look Like In 2023?

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

The Business Research Company’s pharmaceutical logistics market report forecasts the pharmaceutical logistics market size to grow to $161.98 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

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Pharmaceutical Logistics Market Size Forecast
The global pharmaceutical logistics market is expected to grow from $98.94 billion in 2022 to $109.34 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pharmaceutical logistics market size is expected to grow to $161.98 billion in 2027 at a CAGR of 10.3%.

North America held the largest pharmaceutical logistics market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Pharmaceutical Logistics Market Driver ­– Rise In Demand For Pharmaceutical Products
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.

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Key Pharmaceutical Logistics Market Trend – Technological Advancement
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. For instance, in May 2020, United Parcel Service, a US-based shipping, receiving, and supply chain management company, expanded its healthcare logistics with the launch of UPS Premier. UPS Premier is part of the company’s ongoing service and technology upgrades. It uses next-generation sensor technology and monitoring to improve service reliability with priority handling and improved visibility for critical healthcare packages. This technology is a major breakthrough for managing time-sensitive, temperature-sensitive, and patient-sensitive healthcare shipments.

Pharmaceutical Logistics Market Segment
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

Pharmaceutical Logistics Market Major Players and Strategies
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.

In March 2022, Lineage Logistics LLC, a US-based warehousing and logistics management company, acquired MTC Logistics for an undisclosed amount. This acquisition adds Lineage Logistics, four cold storage facilities along the U.S. East and Gulf Coasts, including 38M cubic feet and over 1.13lakh pallet positions. MTC Logistics is a US-based cold storage facility operating in the pharmaceutical logistics market.

The Pharmaceutical Logistics Global Market Report 2023 covers regional data on pharmaceutical logistics market size, pharmaceutical logistics market trends and drivers, opportunities, strategies, and pharmaceutical logistics market competitor 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 refers to the integration of information flow, material handling, production, packaging, inventory, and chain management of prescription medicines.

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