Ottawa, Feb. 17, 2023 (GLOBE NEWSWIRE) -- The healthcare distribution market size will reach at USD 1137.23 billion in 2023. The healthcare industry uses many different technologies and developments to expand and provide better facilities to patients. Healthcare distribution means providing patients with varying care services like drugs, diagnostic tests, and other facilities. Some common types of healthcare distribution are pharmaceutical product distribution, medical device distribution service, and biopharmaceutical distribution service.
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Healthcare distribution ensures that all the necessary medical supplies and products are delivered to healthcare facilities, such as hospitals and clinics. This process is essential to ensure that patients receive the best possible care.
Growth Factors
Market revenue growth is primarily driven by the rising prevalence of chronic disorders among the growing global population and lifestyle-related diseases and disorders such as obesity, hypertension, and diabetes. This has resulted in increasing demand for healthcare services and driving revenue growth in the healthcare distribution market.
Pharmaceutical distributors are investing increasingly, which is expected to play a significant role in assisting distributors in efficiently delivering medicines. Healthcare distributors in developed countries are capitalizing on the potential of digital health by offering services that bring together various healthcare professionals. Rising demand for modern devices creates a positive outlook for the market. Furthermore, pharmaceutical companies are entering into partnerships to distribute healthcare services, propelling market growth.
What is the regional impact in the Healthcare Distribution Market?
- Based on region, the North America is projected to hold the largest market share in 2021 due to the growing incidence of chronic diseases and rising demand for biologics and specialty drugs. Moreover, the growing presence of advanced healthcare infrastructure is one of the significant factors to propel market growth in the region.
- However, Asia Pacific is expected to grow at a promising CAGR during the forecast period. The rising regulatory requirements in the healthcare industries of several Asia-Pacific countries to maintain compliance with excellent manufacturing and distribution practices and the ever-increasing number of pharmaceutical and biotechnology companies drive the substantial growth of the market. China and India are the fastest-growing markets, majorly owing to the expanding pharmaceutical industries in these countries.
Report Highlights
- Based on type, the global healthcare distribution market is segmented into pharmaceutical, medical device, and biopharmaceuticals product distribution services. The pharmaceutical distribution market is projected to hold the largest market share during the forecast period due to the growing production of pharmaceutical formulations and the rise in pharmaceutical R&D expenditure. Moreover, increasing the promotion of self-medication, raising access to OTC drugs, and increasing awareness of preventive care, and health concerns, are some of the factors anticipated to catalyse the market growth. Increasing cases of cancer, rising investments in the research and development of monoclonal antibodies, technological advancements in genetic sequencing and target gene selection, and the rising preference for monoclonal antibodies drive the market's growth. Growing research and development activities by biopharmaceutical companies are expected to propel the growth of the biopharmaceutical distribution services segment. The increasing prevalence of chronic diseases and rising preference towards targeted therapy are driving the segment’s growth.
- Based on end-user, the market is divided into Retail Pharmacies, Hospital Pharmacies, among others. The retail pharmacies segment is anticipated to hold a good market share. Rising initiatives by governments to reduce healthcare expenses are anticipated to continue to drive the growth of the segment. The shifting trend towards generic medicines owing to easy affordability is resulting in growing demand from retail pharmacies. Escalating awareness regarding treatment and services at home is driving demand for OTC drugs and leading to revenue growth in this segment. The adoption of advanced technologies for stock management and customer support to lower operational costs and human error is expected to propel market growth. The government's initiatives to maintain standards in the retail pharmacy industry is driving the growth of the retail pharmacies segment.
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Market Report Scope
| Report Coverage | Details |
| Market Size In 2022 | USD 981 Billion |
| Market Size By 2032 | USD 4300 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 15.93% |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered |
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| Regions Covered |
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Market Dynamics for Healthcare Distribution Market:
Market Driver: Increasing requirement for medical device equipment
The growing need for medical equipment used in this healthcare industry for various functions drives the above market. A safe delivery network is required, which can fulfill the need of consumers and thus can aid market growth. Technological advancements are boosting market growth. Integration of advanced technologies in this medical equipment is propelling the market growth.
Increased chronic disease cases are likely to boost market growth. Therefore, owing to the factors above, the market is anticipated to witness growth over the given period.
Market Restraint: High cost and investment associated with the healthcare distribution services
Rising prices of medical devices and pharmaceutical products are restricting the market growth. On the flip side, continuously increasing pricing pressure on major players in the healthcare industry is a significant factor likely to hamper growth over the forecast period.
There is a higher acquisition cost, and subsequent maintenance costs, leading to an overall increased medical device cost. This is the main factor impeding market growth.
Market Opportunity: Rapid advancements in research and development
Advancements in research and development have also resulted in the development of next-generation, highly innovative, high-value, or speciality medicines utilized to treat complex or rare chronic conditions. Steady demand for speciality drugs and biopharmaceuticals is expected to open up numerous growth opportunities for pharmaceutical distributors. Speciality drugs have unique logistical requirements, like cold chain handling, as most of these products are biologically derived. These factors are projected to offer numerous opportunities to market players across the globe.
Market Challenge: Stringent regulations regarding the development of new drugs
Strict rules regarding the development of new drugs are challenging the health distribution market growth. These further challenges the growth of the healthcare distribution market in the forecast period mentioned above.
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Key Developments in the Marketplace:
- In June 2019, McKesson Corporation signed an agreement to capture Echo.
- In January 2019, Cardinal Health, Inc. signed an agreement to capture Mirixacorp.
- In January 2020, Alliance Healthcare developed a new online service that gives its customers a straightforward approach to accessing its arrangements and ordering healthcare products online.
Major Market Segments Covered:
By Product Type
- Biopharmaceutical
- Pharmaceutical
- Medical Device
By End User
- Hospital Pharmacies
- Retail Pharmacies
- Other
Regional Segmentation
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
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