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The pharmaceutical logistics market has expanded swiftly in recent years. It is projected to increase from $112.31 billion in 2023 to $124.81 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.1%. Factors driving this growth during the historical period include strict regulations, the globalization of pharmaceutical trade, temperature-controlled logistics, the rise of e-commerce, and the overall growth of the healthcare sector.
How Big Is the Global Pharmaceutical Logistics Market Expected to Grow, and What Is Its Annual Growth Rate?
The pharmaceutical logistics market is anticipated to experience significant growth in the coming years, projected to reach $191.18 billion by 2028, with a compound annual growth rate (CAGR) of 11.2%. This growth during the forecast period is driven by market expansion in developing nations, the implementation of risk mitigation strategies, improvements in supply chain visibility, the expansion of the healthcare industry, and advancements in cold chain logistics.
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What Is Driving the Growth of the Pharmaceutical Logistics Market?
The increasing demand for pharmaceutical products is likely to drive the growth of the pharmaceutical logistics market in the future. Pharmaceutical products encompass any medications intended for human use that are available in a finished dosage form and regulated by pharmaceutical legislation. Logistics play a crucial role in managing the procurement, storage, and transportation of these resources.
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Which Leading Companies Are Driving The Growth Of The Pharmaceutical Logistics Market Share?
Key players in the pharmaceutical logistics market include McKesson Corporation, AmerisourceBergen Corp, Cardinal Health Inc., Deutsche Post AG, FedEx Corp, Kuehne + Nagel International AG, SF Holding Co Ltd., CR Pharmaceutical Group Ltd., DSV Panalpina A/S, Schenker AG, C.H. Robinson Worldwide Inc., Alfresa Holdings Corp, Nippon Express Co Ltd., Air Canada Inc., Kerry Logistics Network Limited, Lineage Logistics Holding LLC., Flexport Inc., Nichirei Logistics Group Inc., Mainfreight Ltd., Americold Logistics LLC.
What Are The Key Trends Driving The Growth Of The Pharmaceutical Logistics Market Size?
Key players in the pharmaceutical logistics market are focusing on developing innovations like healthcare logistics services to cater to larger customer bases, boost sales, and enhance revenue. Healthcare logistics services encompass the planning, execution, and management of the efficient and secure transportation of healthcare-related goods, equipment, and information across the supply chain.
How Is the Global Pharmaceutical Logistics Market Segmented?
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, Specialty Pharma
North America: The Leading Region in the Pharmaceutical Logistics Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is the Pharmaceutical Logistics Market?
Pharmaceutical logistics involves the coordination of information flow, material handling, production, packaging, inventory management, and supply chain management related to prescription medications.
The Pharmaceutical Logistics Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Pharmaceutical Logistics Market Report: Trends, Opportunities, Strategies, and More
The Pharmaceutical Logistics Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into pharmaceutical logistics market size, pharmaceutical logistics market drivers and trends, pharmaceutical logistics competitors' revenues, and pharmaceutical logistics market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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