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 Insights

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).

Pharmaceutical logistics is a specific branch of logistics services in which service providers are focused on providing storage, transporting, proper handling and delivering the pharmaceutical products from the manufacturing location to the desired location. Pharmaceutical logistics need the services to be selected as per the regulations of products provided by the authorities.

The rapid shift in the desire towards biological drugs is amongst the significant factors expected to fuel the growth of pharmaceutical logistics market. Increasing consumption of pharmaceutical products due to rising prevalence of chronic diseases and high growth in the target patient population are also anticipated to push the growth of the global pharmaceutical logistics market over the forecast period. Likewise, improved verification and safety of services as it prevent counterfeit drugs being distributed through the supply chain and high demand for specialized value-added services such as temperature-controlled and cold chain storage are also projected to push growth of the market.

Increasing usage of air freight logistics for long-distance and intercontinental distribution of valuable vaccines and medicines is also expected to propel growth of the pharmaceutical logistics market. Rising demand for over-the-counter medicines, rapid rise in the acceptance of fast track assistance in the healthcare sector, and various government initiatives are expected to offer significant growth opportunities for the pharmaceutical logistics market during the forecast period.

US Pharmaceutical Logistics Market is poised to grow at a sustainable CAGR for the next forecast year.

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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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