Global Pharmaceutical Logistics Market

Pharmaceutical Logistics Market Size, Share, Growth Analysis, By Type(Cold chain logistics, non-cold chain logistics), By Component(Storage, transportation, monitoring), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20R2031 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 62 | Figures: 75

Pharmaceutical Logistics Market Dynamics

Pharmaceutical Logistics Market Drivers

  • Need to maintain cold chain integrity for pharmaceutical products while lowering distribution costs by creating a single source distribution channel is driving up demand for pharmaceutical logistics.
  • One of the primary drivers for market growth is the increase in pharmaceutical demand. Global life expectancy has risen significantly in recent years. Global pharmaceutical sales are expected to rise during the forecast period as average life expectancy rises. End-user industries are utilizing cold chain logistics to meet the pharmaceutical industry's increasing demand.
  • Growing importance of fast track assistance and rising demand for household healthcare products are other factors driving the pharmaceutical logistics market growth.

Pharmaceutical Logistics Market Restraint

  • The requirement of coordinated and interconnected logistics services with complete secrecy in the pharmaceutical supply chain is expected to limit the growth of the pharmaceutical logistics market, whereas inefficient products and fluctuation in pricing policies from place to place across the globe are expected to challenge the growth of the pharmaceutical logistics market.
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FAQs

Pharmaceutical Logistics Market size was valued at USD 77.97 billion in 2019 and is poised to grow from USD 85.24 billion in 2023 to USD 170.17 billion by 2031, growing at a CAGR of 9.2% in the forecast period (2024-2031).

Pharma companies constantly undertake strategic initiatives, such as mergers and acquisitions, to maintain their market position. FedEx, for example, acquired Manton Air-Sea Pty Ltd., a logistics service provider, in October 2018. FedEx's geographical footprint in the Asia Pacific region was strengthened as a result of the acquisition. 'Agility Logistics', 'BDP International', 'CEVA Logistics', 'DHL Global Forwarding', 'FedEx Corporation', 'DB Schenker', 'Kuehne + Nagel', 'Penske Logistics', 'Cardinal Health', 'Marken', 'UPS Healthcare', 'Movianto', 'Panalpina World Transport', 'Rhenus Logistics', 'World Courier', 'XPO Logistics', 'Hellmann Worldwide Logistics', 'TNT Express', 'Expeditors International', 'Nippon Express'

Need to maintain cold chain integrity for pharmaceutical products while lowering distribution costs by creating a single source distribution channel is driving up demand for pharmaceutical logistics.

In pharmaceutical logistics, products are GPS tracked as well as remotely monitored temperature in accordance with GDP guidelines, ensuring safe transportation and delivery of the products. Additional precautions are taken to ensure the safe delivery of narcotics and pharmaceutical products. Different delivery patterns are used for different types of pharmaceuticals. Stringent reimbursement, regulations, direct sell models, pricing applied by government agencies, third-party logistics, product diversity, shipment of R&D products for clinical studies, difficulty forecasting a product's lifecycle, and counterfeit products are all issues in pharmaceutical supply chains.

Europe had a market share of more than 36.0% in 2021 and is expected to grow at a significant rate from 2022 to 2030. The significant growth in pharmaceutical product trades across key European countries is responsible for the high market share. These countries primarily include Germany, the United Kingdom, France, the Nordic countries, and others. Furthermore, growing domestic production and demand for several categories of pharma products, such as OTC medicines, has aided the market in gaining a sizable market share.

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Global Pharmaceutical Logistics Market

Report ID: SQMIG20R2031

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