The pharmaceutical logistics market size to grow by USD 11.96 billion from 2023 to 2028 | Growing global pharmaceutical sales to drive the growth- Technavio

NEW YORK, Dec. 14, 2023 /PRNewswire/ — The pharmaceutical logistics market size is expected to grow by USD 11.96 billion from 2023 to 2028. However, the growth momentum of the market will be progressing at a CAGR of 2.46% during the forecast period. The market is segmented by type (non-cold chain logistics and cold chain logistics), service (storage and transportation), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Growing global pharmaceutical sales is the key factor driving market growth.  By 2024, global sales of medicinal products are expected to reach USD 1.4 trillion. In addition, there is an increase in the incidence of chronic diseases and the need for improved medical assistance. The increased number of patients requires a major investment in state-of-the-art equipment for effective treatment. Hence, such factors are expected to drive the growth of the market during the forecast period.

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Key Highlights:

The report recognizes the following as some of the key players in the pharmaceutical logistics market: Abu Dhabi Ports PJSC, AP Moller Maersk AS, AWL India Pvt. Ltd., CJ CheilJedang Corp., CMA CGM SA Group, DB Schenker, Deutsche Post AG, DSV AS, FedEx Corp., Gemadept Corp., GEODIS, Kuehne Nagel Management AG, Nippon Yusen Kabushiki Kaisha, Pharma Logistics LLC, SF Express Co. Ltd., Tiong Nam Logistics Holdings Berhad, United Parcel Service Inc., Varuna Group, WHA Corp. PCL, and YCH GroupThe Pharmaceutical Logistics Market is fragmented in nature.Market to observe 2.32% YOY growth in 2024.

Market Dynamics:

Key Trend-

High demand for personalized medicine is the primary trend shaping market growth. The development of and distribution of specialized medicinal products, e.g. gene therapies, immunotherapies, or therapeutic targets, is increasingly involved in personalized medicine.Efficient inventory management and traceability are essential, owing to the unique nature of personalized medicine. Individual treatment can be managed and monitored by logistics providers.

Significant Challenge-

The high cost associated with pharmaceutical logistics is a challenge that affects market growth. The costs of setting up a warehouse, which is extremely dependent on the price of land, shall be borne when calculating the cost of constructing a cold storage unit or temperature control warehouse.High infrastructure costs to build or construct new cold storage units are an important component of the cost structure.

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Keg Segments:

The non-cold chain logistics segment is estimated to witness significant growth during the forecast period. Various packaging materials such as blister packs, flasks, labels, and inserts that are generally not sensitive to temperature but can be exported in normal conditions of transport need to be used by the pharmaceutical industry. Non-cold chain logistics are important for the efficient distribution of a broad range of pharmaceutical products, including oral medications, topical creams, medical devices, and non-perishable medical supplies.

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Related Reports:

The pharmaceutical equipment market is estimated to grow by USD 5,454.44 million at a CAGR of 6.67% between 2022 and 2027. 

The road logistics market is estimated to grow by USD 782.97 billion between 2022 and 2027 exhibiting a CAGR of 3.59%. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Service

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio