Newark, New Castle, USA, June 12, 2023 (GLOBE NEWSWIRE) -- As per the report by Growth Plus Reports, the pharmaceutical logistics market was valued at US$ 87.5 billion in 2022 and is expected to reach US$ 182.34 billion, registering a revenue CAGR of 8.5% by 2031.
The global market for global pharmaceutical logistics market was analyzed, and it is expected to increase significantly during the forecast period. Managing the transportation, storage, and handling of pharmaceutical products, such as medications, vaccines, and medical equipment, from producers to distributors, wholesalers, and eventually end users are referred to as pharmaceutical logistics.
Recent Development in the Global Pharmaceutical Logistics Market:
- In November 2022, The Bomi Group, a premier international healthcare logistics company, was acquired by UPS. Through the acquisition, UPS Healthcare, the company's healthcare division, will expand its network of temperature-controlled facilities to 14 new nations and hire 3,000 highly qualified individuals to its workforce in Europe and Latin America.
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Pharmaceutical Logistics Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 87.5 billion |
| Revenue forecast in 2031 | US$ 182.34 billion |
| Growth Rate | CAGR of 8.5% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Mode of Operation, Component, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Key Takeaways:
- The rising population is driving the need for pharmaceutical logistics and boosting revenue growth.
- This increases the demand for specialized pharmaceutical logistics companies to adhere to stringent rules and regulations.
- This has increased demand for logistics companies that can supply these cutting-edge services, fueling market revenue.
Market Drivers and Restraints:
In order to ensure the safe and on-time delivery of medications and other medical supplies to the intended populations, the pharmaceutical logistics market is rising in terms of revenue share.
However, transportation, storage, and handling can be expensive and may restrain the market revenue growth during the forecast period.
Market Segmentation:
Segmentation By Operation
Based on the operation, the global pharmaceutical logistics market is segmented into the cold chain and non-cold chain. The cold chain segment accounts for the largest market revenue share due to the necessary infrastructure, equipment, and expertise provided by cold chain operations to ensure the transport and store of products at the appropriate temperature.
Segmentation By Component
Based on the component, the global pharmaceutical logistics market is segmented into storage and transportation. The intravenous segment accounts for the largest revenue share in the global market. The safe and secure storage of pharmaceutical products is essential to ensure their efficacy and safety, contributing to the segment’s revenue growth.
Regional Growth Dynamics
Based on the region, the global pharmaceutical logistics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. This significant revenue share is attributed to the presence of key market players and increased drug import and export activities, and high disposable income.
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Competitive Landscape
The following is a list of the prominent players in the global market of pharmaceutical logistics:
- FedEx Corporate Services, Inc.
- Deutsche Post DHL Group
- Nippon Express Co., Ltd.
- United Parcel Service of America, Inc.
- VersaCold Logistics Services
Report Coverage
The global market for pharmaceutical logistics is studied and analyzed in-depth. The study looks at the basic market characteristics, significant investment opportunities, analytics of regional growth, revenue forecasting, significant market participants, and collaborations.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL PHARMACEUTICAL LOGISTICS MARKET- ANALYSIS & FORECAST, BY MODE OF OPERATION
- Cold Chain
- Non-Cold Chain
- GLOBAL PHARMACEUTICAL LOGISTICS MARKET- ANALYSIS & FORECAST, BY COMPONENT
- Storage
- Warehouse
- Refrigerated Container
- Transportation
- Overland Logistics
- Airfreight Logistics
- Sea freight Logistics
- Storage
PHARMACEUTICAL LOGISTICS MARKET TOC
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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