Burlingame, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, Global Pharmaceutical Logistics Market, By Service Type (Transportation/Shipping and Warehousing), By Type (Cold Chain Logistics and Non-cold Chain Logistics), By Product Type (Bio-Pharma, Pharma , Medical Devices and Lab Diagnostics), By End User (Pharma and Biotech Companies, CROs, CMOs, and CDMOs and Biobanks), and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2024-2031. According to the report, the global pharmaceutical logistics market was valued at US$ 99.7 Bn in 2024 and is expected to reach US$ 183 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.
Request Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/6584
Market Dynamics:
With the rapid increase in demand for temperature-controlled pharmaceuticals, the pharmaceutical logistics market is experiencing significant growth. Temperature-controlled logistics plays a crucial role in ensuring the quality, safety, and efficacy of pharmaceutical products. This is particularly important for sensitive medicines such as vaccines, biologics, and specialty drugs that require specific temperature ranges to maintain their properties.
Moreover, the growth of the pharmaceutical industry, advancements in transportation technology, and the expanding global distribution network are also driving the market. As the pharmaceutical industry expands, the need for efficient and reliable logistics services to transport drugs and medical devices to different regions becomes paramount. Additionally, the adoption of innovative technologies such as blockchain, internet of things (IoT), and artificial intelligence (AI) in pharmaceutical logistics further enhances the market growth.
Global Pharmaceutical Logistics Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $99.7 billion |
| Estimated Value by 2031 | $183 billion |
| Growth Rate | Poised to grow at a CAGR of 9.1% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Service Type, By Type, By Product Type, By End User |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Restraints & Challenges | • Complex regulatory guidelines |
| Growth Drivers | • Growing need for cold chain distribution of temperature sensitive pharmaceutical products • Emergence of temperature-sensitive pharmaceuticals |
Market Trends:
Cold Chain Logistics: The increasing demand for temperature-controlled pharmaceuticals has driven the growth of cold chain logistics. Cold chain logistics ensures the integrity and efficacy of temperature-sensitive drugs by maintaining controlled conditions during transportation and storage. This trend has led to the development of advanced cold chain logistics solutions, including temperature monitoring systems, specialized packaging, and refrigerated transportation.
Outsourcing of Logistics Services: Pharmaceutical companies are increasingly outsourcing their logistics operations to specialized third-party logistics providers to streamline their supply chain and reduce costs. Outsourcing logistics services allow companies to focus on their core competencies while benefiting from the specialized expertise and infrastructure of logistics service providers. This trend is expected to continue as pharmaceutical companies seek to optimize their supply chain operations and meet the increasing demand for efficient and reliable logistics services.
Buy this Complete Business Research Report: https://www.coherentmarketinsights.com/insight/buy-now/6584
Market Opportunities:
The cold chain logistics segment is expected to dominate the pharmaceutical logistics market due to the increasing demand for temperature-sensitive pharmaceutical products. Cold chain logistics ensures that pharmaceutical products are transported and stored in controlled temperature conditions to maintain their efficacy and integrity. With the growing demand for biopharmaceuticals and vaccines, the need for cold chain logistics is on the rise. Furthermore, stringent regulatory requirements for the transportation and storage of temperature-sensitive drugs also contribute to the growth of this segment. Pharmaceutical companies are increasingly investing in cold chain logistics solutions to ensure the safe and efficient delivery of their products.
The pharmaceutical and biotech companies segment is expected to dominate the end-user segment in the pharmaceutical logistics market. The growing number of pharmaceutical companies and the increasing demand for innovative medicines drive the need for efficient logistics solutions. Pharmaceutical logistics companies play a crucial role in delivering drugs and medical products to healthcare facilities and patients, ensuring timely availability of medicines. As the pharmaceutical industry continues to expand globally, there will be a significant demand for logistics services tailored to the specific needs of pharmaceutical companies.
Recent Development:
In March 2023, Dentons, a logistics company, and transport on the purchase of trans-o-flex that specialise in the temperature controlled transportation of high-tech and medical goods.
In 2022, Lineage Logistics LLC, the biggest and the most inventive temperature controlled industrial REIT and logistics services provider in the world, purchase MTC logistics.
Ask for Customization: https://www.coherentmarketinsights.com/insight/request-customization/6584
Key Market Takeaways:
The Pharmaceutical Logistics Market is anticipated to witness a CAGR of 9.1% during the forecast period 2024-2031, owing to the increasing demand for temperature-controlled logistics solutions in the pharmaceutical industry. On the basis of service type, the transportation/shipping segment, including sea freight logistics, airfreight logistics, and overland logistics, is expected to hold a dominant position. This is due to the need for efficient and timely transportation of pharmaceutical products across different regions. In terms of type, the cold chain logistics segment is expected to dominate the market, driven by the growing demand for temperature-sensitive drugs and vaccines. Among the product types, the bio-pharma segment is expected to hold a dominant position, reflecting the increasing development and demand for biopharmaceutical products. In terms of end-users, the pharmaceutical and biotech companies segment is expected to dominate the market, as these companies are at the forefront of drug development and distribution.
On the basis of region, North America is expected to hold a dominant position over the forecast period. This can be attributed to the presence of major pharmaceutical companies, advanced healthcare infrastructure, and stringent regulatory standards for drug transportation and storage. Key players operating in the pharmaceutical logistics market include Maersk, United Parcel Service of America, Inc., DHL Group, and Kuehne+Nagel, among others. These players focus on providing specialized logistics services to the pharmaceutical industry, including temperature-controlled transportation and warehousing. They play a crucial role in ensuring the safe and efficient delivery of pharmaceutical products.
In conclusion, the pharmaceutical logistics market presents lucrative opportunities for growth, particularly in the cold chain logistics segment and in serving pharmaceutical and biotech companies. The increasing demand for temperature-sensitive drugs and the expansion of the pharmaceutical industry contribute to the growth of the market. As players in the market continue to innovate and provide specialized logistics solutions, the pharmaceutical industry will benefit from efficient and reliable transportation and warehousing services.
Read complete market research report, "Global Pharmaceutical Logistics Market, By Service Type, By Type, By Product Type, By End User, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031", Published by Coherent Market Insights.
Detailed Segmentation:
By Service Type:
- Transportation/Shipping
- Sea Freight Logistics
- Airfreight Logistics
- Overland Logistics
- Warehousing
By Type:
- Cold Chain Logistics
- Non-cold Chain Logistics
By Product Type:
- Bio-Pharma
- Pharma
- Medical Devices
- Lab Diagnostics
By End User:
- Pharma and Biotech Companies
- CROs, CMOs, and CDMOs
- Biobanks
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
Find more related trending reports below:
Global Pharma 4.0 Market, By Component (Hardware, Software, Services), By Technology (Cloud Computing, Artificial Intelligence, Big Data Analytics, Internet of Things), By Application (Research and Development, Manufacturing, Supply Chain Management, Others), By End User (Biopharmaceutical Companies, Contract Manufacturing Organizations, Contract Research Organizations), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Global Pharmaceutical Contract Sales Outsourcing (CSO) Market, By Service Type (Personal Promotion, Non-personal Promotion, Others), By Therapeutic Area (Cardiovascular Disorders, Oncology, Metabolic Disorders, Neurology, Orthopedic Diseases, Infectious Diseases, Others), By End User (Biopharmaceutical Companies, Medical Device Companies, Generic Companies, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Global Patient Generated Health Data Market, By Data Type (Fitness & wellness data, Disease management data, Remote monitoring data, Others), By End User (Hospitals & clinics, Research centers, Healthcare payers, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Global Well Being Platform Market, By Category (Fitness and Nutrition Consultants, Psychological Therapists, Organizations/employers), By Delivery Model (Onsite, Offsite), By End Use (Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
