Global Pharmaceutical Logistics Market size was valued at USD 68.5 Billion in 2023 and is expected to reach USD 125.5 Billion by 2032, at a CAGR of 5.5% during the forecast period 2023 – 2032.
Pharmaceutical Logistics Market: Overview
Pharmaceutical logistics is the detailed coordination of activities and resources that ensures the effective transit of pharmaceutical goods from manufacture to consumption. It requires precise preparation, execution, and control to guarantee that medications are delivered safely and on time to consumers, medical centers, and pharmacists.
Numerous global factors influence the pharmaceutical logistics sector. In the beginning, the rising demand for medicines, fueled by factors that include aging populations and the frequency of chronic illnesses, is driving the need for efficient and dependable logistical solutions.
Furthermore, the advent of biopharmaceuticals and customized treatment demands specialized cold chain logistics infrastructure to ensure product integrity. In addition, technological innovations such as IoT (Internet of Things) sensors and blockchain improve supply chain visibility, traceability, and security.
Moreover, sustainability concerns are driving the development of environmentally friendly techniques such as green packaging and alternative fuel cars. Overall, these developments reflect the changing face of pharmaceutical logistics, which is marked by innovation, digitalization, and an emphasis on dependability and environmental sustainability.
By component, the storage segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Pharmaceutical logistics storage trends include the use of automation storage systems, demand for temperature-controlled facilities, the deployment of blockchain for improved traceability, and the use of data analytics for inventory management.
By operation, the airways segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Airways in Pharmaceutical Logistics market trends include a rise in demand for air freight due to its speed, dependability, and ability to handle temperature-sensitive medicines, which is driving expenditures in specialist air cargo infrastructure.
By application, the biopharma segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Biopharma developments in pharmaceutical logistics involve the rising need for temperature-controlled transportation, the use of blockchain for supply chain transparency, and the use of data analysis for enhanced efficiency and compliance.
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Pharmaceutical logistics in Europe is seeing an increase in demand for temperature-controlled shipping, digitization for efficiency in the supply chain, and stricter compliance with regulations to guarantee safe and efficient medication delivery.
VersaCold Logistics Services is thrilled to announce the successful acquisition of a significant portfolio of cold storage warehouse facilities from H&R Real Estate Investment Trust and Crestpoint Real Estate Investments Ltd. VersaCold now maintains warehouses across Canada, from Newfoundland to British Columbia, and numerous regions in addition. The bought properties total around 1.2 million square feet of space.
CMI has comprehensively analyzed the Global Pharmaceutical Logistics market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Pharmaceutical Logistics industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Pharmaceutical Logistics Market:
- FedEx
- United Parcel Service of America Inc.
- Abiomed
- BioVentrix
- R. Bard
- LifeConEx
- Abbott Vascular
- Abiomed
- AtriCure
- UPS
- Air Canada
- VersaCold Logistics Services
- World Courier
- Biotronik
- Deutsche Post DHL
- DB Schenker
- CEVA Logistics
- Agility
- SF Express
- Biosensors International
- Others
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