Visiongain has published a new report: Pharmaceutical Logistics Market Report 2024-2034: Forecasts by Mode of Operation (Cold Chain Transport, Non-Cold Chain Transport), by Logistic Components (Storage, Transportation, Monitoring Components), by Product (Generic Drugs and Branded Drugs), by End-users (Pharmaceutical manufacturers, Pharmaceutical Distributors and Wholesalers, Others), by Application (Bio Pharma, Chemical Pharma, Specialised Pharma) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global pharmaceutical logistics market is estimated at US$93.3 billion in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period 2024-2034.
Focus on Cost-efficiency and Sustainability Projected to Drive Industry Growth
The pharmaceutical logistics market is poised for significant growth driven by a relentless focus on both cost-efficiency and sustainability. Rising pressure on margins across the healthcare chain demands leaner operations, pushing logistics providers to optimize routes, minimize waste, and leverage automation. Simultaneously, consumer and investor scrutiny on environmental impact compels companies to adopt green initiatives – think reusable packaging, alternative fuels, and energy-efficient facilities. These converging forces create a lucrative market segment for providers who can demonstrate both cost savings and environmental responsibility.
By optimizing cold chains, embracing smart data solutions, and investing in sustainable infrastructure, logistics players can capture the hearts and wallets of both cost-conscious businesses and eco-conscious consumers, propelling the market forward.
Download Exclusive Sample of Report
https://www.visiongain.com/report/pharmaceutical-logistics-market-2024/#download_sampe_div
How has COVID-19 had a Significant Impact on the Pharmaceutical Logistics Market?
COVID-19's impact on the pharmaceutical logistics market was a brutal wake-up call. Panic buying and surging healthcare needs sent demand skyrocketing, while lockdowns and travel restrictions choked international supply chains, creating medicine shortages and delaying vital vaccine distribution. The cold chain, crucial for temperature-sensitive vaccines, cracked under pressure, exposing its vulnerabilities. But amidst the chaos, there emerged a silver lining. Digital tools like real-time tracking and data analytics became essential lifelines, providing much-needed visibility and agility.
Companies, forced to adapt, invested in resilient supply chains, diversified production sites, and embraced automation and smart technologies to boost efficiency and visibility. COVID-19 may have exposed vulnerabilities, but it also acted as a catalyst for innovation, resilience, and a renewed focus on sustainability. In this transformed landscape, the future of pharmaceutical logistics lies in those who can navigate the evolving demands and challenges, ultimately ensuring seamless delivery of life-saving medicines to patients, wherever they may be.
How will this Report Benefit you?
Visiongain’s 294-page report provides 123 tables, 176 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global pharmaceutical logistics market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for pharmaceutical logistics. Get financial analysis of the overall market and different segments including mode of delivery, clinical trial phase, therapeutic area, and end users, company size and capture higher market share. We believe that there are strong opportunities in this fast-growing pharmaceutical logistics market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Demand for Healthcare Products and Advancements in Biopharmaceuticals
The increased demand for healthcare products and advancements in biopharmaceuticals are pivotal drivers shaping the pharmaceutical logistics market. This surge in demand is propelled by several factors, including the aging population, rising chronic diseases, and the ongoing global health challenges. As medical innovations evolve, there's a growing need for efficient transportation, storage, and distribution of pharmaceuticals.
The logistics sector responds by embracing cutting-edge technologies like IoT, blockchain, and AI-driven analytics to enhance supply chain efficiency, ensuring timely and safe delivery of sensitive medical products. This evolving landscape demands specialized handling and temperature-controlled logistics to preserve the integrity of biopharmaceuticals and other healthcare goods. Companies are investing in cold chain logistics and innovative packaging solutions to maintain the efficacy of temperature-sensitive medications.
Additionally, the pandemic highlighted the significance of streamlined and resilient supply chains. As a result, pharmaceutical companies are partnering with logistics providers capable of offering flexible, agile, and secure transportation services to meet the dynamic market demands. Such collaborations ensure the rapid distribution of vaccines, medications, and critical healthcare supplies, further stimulating growth in the pharmaceutical logistics market.
Growing Globalization of Pharmaceutical Trade will Drive the Pharmaceutical Logistics Market
The growing globalization of pharmaceutical trade significantly influences the pharmaceutical logistics market. As pharmaceutical companies expand their operations internationally to tap into new markets and leverage cost efficiencies, the demand for efficient logistics solutions surges. The need for secure and compliant transportation of drugs across borders drives the requirement for robust supply chain networks capable of navigating complex regulatory environments.
Globalization also intensifies the need for streamlined logistics services to ensure seamless movement of pharmaceuticals while adhering to diverse regulatory standards and customs requirements across different countries. Logistics providers are compelled to offer tailored solutions that encompass efficient warehousing, optimized transportation routes, and stringent quality control measures to support the global distribution of pharmaceutical products. The expanding international trade in pharmaceuticals propels the pharmaceutical logistics market to evolve and adapt to the intricacies of a global supply chain.
Get Detailed ToC
https://www.visiongain.com/report/pharmaceutical-logistics-market-2024/
Where are the Market Opportunities?
Collaborations and Partnerships
The pharmaceutical logistics market, intricately entwined with temperature-sensitive products and complex regulations, finds fertile ground for growth in "Collaborations and Partnerships." Pharmaceutical giants teaming with cold chain specialists strengthen temperature control prowess. Airlines partnering with tech start-ups unlock real-time shipment visibility. Logistics providers joining forces with customs authorities expedite border crossings. These alliances synergize resources, knowledge, and infrastructure, birthing cost-effective and efficient solutions. Collaboratively navigating intricate regulations and leveraging combined expertise open doors to new markets and untapped opportunities, propelling the market towards a future of seamless pharmaceutical delivery.
Technological Integration
Technological integration presents a significant opportunity for the pharmaceutical logistics market. Integrating advanced technologies such as Internet of Things (IoT), blockchain, artificial intelligence, and big data analytics optimizes supply chain visibility, transparency, and efficiency. These innovations enable real-time monitoring of shipments, ensuring better tracking of pharmaceutical products throughout the logistics process.
By implementing technology-driven solutions, companies can enhance inventory management, reduce errors, and improve forecasting accuracy. IoT devices and sensors enable continuous monitoring of environmental conditions like temperature, humidity, and location, vital for preserving the integrity of sensitive pharmaceuticals during transit.
Blockchain technology ensures secure and immutable record-keeping, fostering trust and transparency among stakeholders. AI and big data analytics empower logistics providers to derive actionable insights, enabling predictive maintenance, route optimization, and proactive risk management.
Overall, technological integration offers a pathway for the pharmaceutical logistics industry to revolutionize operations, enhance compliance, and meet the evolving demands of an increasingly complex global market.
Competitive Landscape
The major players operating in the pharmaceutical logistics market are Agility, Americold Logistics, Inc., AWL India Private Limited, C.H. Robinson Worldwide, Inc., CMA CGM Group, Deutsche Post AG, DSV, FedEx, KERRY LOGISTICS NETWORK LIMITED, Kuehne+Nagel, Lineage, Inc., Maersk, Movianto, United Parcel Service of America, Inc., and V-Xpress among others. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- On 7th November 2023, Kuehne+Nagel unveiled the expansion of its Chicago facility, introducing a new GxP compliant area. This 21,000 sq. ft space caters to storage climate requirements spanning from +2°C to +25°C. This investment enables the company's current and prospective clients to enhance the quality of their temperature-controlled supply chains by ensuring end-to-end temperature management within our facility.
- On 2nd November 2023, UPS completed the acquisition of MNX Global Logistics (MNX). The acquisition of MNX expands UPS's capabilities of time-critical logistics, especially for healthcare customers in the US, Europe and Asia. MNX has a strong track record in providing reliable and timely delivery of critical goods.
To access the data contained in this document please email contactus@visiongain.com. Avoid missing out by staying informed – order our report now.
To find more Visiongain research reports on the Pharma sector, click on the following links:
- Healthcare Cold Chain Logistics Market Report 2023-2033
- Cell & Gene Therapy Cold Chain Logistics Market Report 2023-2033
Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: contactus@visiongain.com
About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
Contact
Visiongain Reports Limited
Telephone: +44 (0) 20 7336 6100
Email: contactus@visiongain.com
Web: www.visiongain.com
