New York, United States , Aug. 26, 2024 (GLOBE NEWSWIRE) -- The Global Healthcare Distribution Market Size is to Grow from USD 910.45 Billion in 2023 to USD 1799.75 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.05% during the projected period.
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The healthcare distribution market is the sector involved in the supply and distribution of healthcare products, including prescription drugs, equipment, supplies, and gadgets. The entire supply chain, starting with manufacturers and wholesalers, is covered, including clinics, hospitals, pharmacies, and other healthcare facilities. Healthcare services, including prescription drugs, medical equipment, diagnostics, and treatments, need to be successfully delivered to clients through a system of many players, protocols, mechanisms, and logistics. The increase in R&D expenditure on the creation of new drugs is the main driver of the market growth. The rising incidence and substantial cost burden of chronic diseases, the significance of generics, the expansion of the medical device industry, and the growing significance of generics are other important factors in the healthcare distribution market. A generic drug is an identical replica of the brand name product containing all the same qualities, strengths, safety, dosage, intake mode, efficacy, and intended use as the original. However, many limitations, including the high cost of the pharmaceuticals and strong government regulations regarding drug research, will restrict market growth causing additional difficulties for the healthcare distribution market.
Browse key industry insights spread across 230 pages with 90 Market data tables and figures & charts from the report on the "Global Healthcare Distribution Market Size, Share, and COVID-19 Impact Analysis By Type (Biopharmaceutical, Pharmaceutical, and Medical Device), By End User (Hospital Pharmacies, Retail Pharmacies, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The pharmaceutical segment is anticipated to hold the greatest share of the global healthcare distribution market during the projected timeframe.
On the basis of type, the global healthcare distribution market is divided into biopharmaceutical, pharmaceutical, and medical devices. Among these, the pharmaceutical segment is anticipated to hold the greatest share of the global healthcare distribution market during the projected timeframe. A rising variety of acute and chronic diseases and medical conditions can be treated and managed, or have their symptoms reduced with the use of pharmaceuticals.
The retail pharmacies segment is predicted to hold the greatest share of the global healthcare distribution market during the estimated period.
On the basis of end user, the global healthcare distribution market is divided into hospital pharmacies, retail pharmacies, and others. Among these, the retail pharmacies segment is predicted to hold the greatest share of the global healthcare distribution market during the estimated period. Retail pharmacies handle a large number of prescriptions regularly. Retail pharmacies also stock products for a variety of diseases, such as skin conditions and heart problems.
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North America is expected to hold the largest share of the global healthcare distribution market over the forecast period.
North America is expected to hold the largest share of the global healthcare distribution market over the forecast period. Organizations in the region have strong supply chain and logistical capabilities due to their extensive geographic footprint, which helps in their capacity to swiftly move products across borders across North America. However, rising payer pressure on prices in the US and Canada could affect distributor margins directly.
Asia Pacific is predicted to grow at the fastest pace in the global healthcare distribution market during the projected timeframe. Asia Pacific has become the leader in healthcare distribution due to increased access, rising healthcare expenses, and rapidly developing economies. China offers a huge opportunity due to its large population and government led initiatives to expand the domestic healthcare sector.
Europe is expected to hold a significant share of the global healthcare distribution market over the forecast period. These previous advancements reduce the likelihood of fraud or deterioration of products by helping healthcare distributors in Europe to ensure that pharmaceuticals, biologics, and medical equipment arrive in perfect condition.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global healthcare distribution market include Medline Industries, Inc., Cardinal Health, Eli Lilly, Accord-UK Ltd., Phoenix Medical Systems Private Limited, Biotron Healthcare, OrbiMed Advisors LLC, ALLIANCE UNICHEM IP LIMITED and TTK, AmerisourceBergen Corporation, Owens & Minor, Inc., Morris & Dickson Co. L.L.C, Express Scripts Holding Company, FFF Enterprises, Inc., Attain Medspa, and Others.
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Recent Developments
- In May 2024, The Hudson RCI TurboMist small-volume nebulizer, the newest product in Medline's respiratory care lineup, was launched. TurboMist is intended to be the fastest small-volume nebulizer available, delivering drug treatments in as little as three minutes.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global healthcare distribution market based on the below-mentioned segments:
Global Healthcare Distribution Market, By Type
- Biopharmaceutical
- Pharmaceutical
- Medical Device
Global Healthcare Distribution Market, By End User
- Hospital Pharmacies
- Retail Pharmacies
- Others
Global Healthcare Distribution Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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