LONDON, Oct. 18, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the pharmaceutical logistics market, the rise in demand for pharmaceutical products is expected to propel the growth of the pharmaceutical logistics market going forward. Pharmaceutical products refer to any medicine that is for human use that is available in finished dosage form and is controlled by pharmaceutical legislation. Logistics help pharmaceutical products handle the procurement, storage, and transportation of resources. For instance, according to an article by India Brand Equity Foundation, an Indian government export promotion agency, in 2021 the Indian pharmaceutical market increased annually to 17.7% from 13.7% in July 2020. Therefore, a rise in demand for pharmaceutical products is driving the growth of the pharmaceutical logistics market.
Request for a sample of the global pharmaceutical logistics market report
The global pharmaceutical logistics market size is expected to grow from $89.66 billion in 2021 to $98.31 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The pharmaceutical logistics market is expected to grow to $141.20 billion in 2026 at a compound annual growth rate (CAGR) of 9.5%.
Technological advancements are a key trend gaining popularity in the pharmaceutical logistics market. Major companies operating in the pharmaceutical logistics market are coming up with new technologies such as cloud-based supply chain functions, IoT technology, and others to sustain their position in the market. For instance, in May 2020, United Parcel Service, US-based shipping, receiving, and supply chain management company, expanded its healthcare logistics with the launch of UPS Premier. UPS Premier is part of the company’s ongoing service and technology upgrades. It uses next-generation sensor technology and monitoring to improve service reliability with priority handling and improved visibility for critical healthcare packages. This technology is a major breakthrough for managing time-sensitive, temperature-sensitive, and patient-sensitive healthcare shipments.
Major players in the pharmaceutical logistics industry are Agility Public Warehousing Company K.S.C.P., Air Canada, CEVA Logistics, DB Schenker, Deutsche Post AG, FedEx Corporation, LifeConEx LLC, Marken, United Parcel Service, Kerry Logistics Network Limited, Panalpina, Kuehne + Nagel International AG, Sofrigam SA, CONTINENTAL Carriers Pvt Ltd and DSV A/S.
The global pharmaceutical logistics market is segmented by type into cold chain logistics, non-cold chain logistics; by component into storage, transportation, monitoring components; by procedure into picking, storage, retrieval systems, handling systems; by transportation into sea freight, air freight, overland; by application into bio pharma, chemical pharma, speciality pharma.
North America was the largest region in the pharmaceutical logistics market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Pharmaceutical Logistics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide pharmaceutical logistics market forecast size and growth, pharmaceutical logistics market segments and geographies, pharmaceutical logistics market trends, pharmaceutical logistics market drivers and restraints, pharmaceutical logistics market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Not the market you are looking for? Check out some similar market intelligence reports:
Healthcare Logistics Global Market Report 2022 – By Service (Transportation, Warehousing), By Product (Pharmaceutical Products, Medical Devices, Medical Equipment), By Type (Branded Drugs, Generic Drugs), By End-Users Outlook (Pharmacies, Healthcare Facilities, Research And Diagnostic Laboratories) – Market Size, Trends, And Global Forecast 2022-2026
Freight And Logistics Global Market Report 2022 – By Type (Airways, Railways, Roadways, Waterways), By Function (Freight Forwarding, Warehousing, Value-Added Services, Other Functions), By End User (Manufacturing And Automotive, Oil And Gas, Mining, And Quarrying, Agriculture, Fishing, And Forestry, Construction, Distributive Trade, Other End Users) – Market Size, Trends, And Global Forecast 2022-2026
Logistics Automation Global Market Report 2022 – By Component (Hardware, Software, Services), By Function (Warehouse And Storage Management, Transportation Management), By Organization Size (Small-Medium Size Organizations, Large Scale Organization), By End-User (Retail And E-Commerce, Automotive, Food And Beverage, Logistics And Transportation) – Market Size, Trends, And Global Forecast 2022-2026
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
