Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- The "Europe Pharmaceutical Logistics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029" report has been added to ResearchAndMarkets.com's offering.
The Europe Pharmaceutical Logistics Market size is estimated at USD 86.89 billion in 2024, and is expected to reach USD 105.31 billion by 2029, growing at a CAGR of 3.92% during the forecast period (2024-2029).
Key Highlights
- The demand for pharmaceutical logistics in Europe is mainly driven by the increasing demand for drugs and vaccines, fueled by the COVID-19 pandemic and increasing investments by leading pharmaceutical firms. The COVID-19 pandemic increased the trade of conventional and over-the-counter (OTC) drugs in Europe. Enhancement in the production rate of biologics, hormone medications, vaccines, complex proteins, and temperature-specific byproducts requiring cold chain shipment also witnessed significant growth in the European pharmaceutical logistics market. There is a strong and competitive pharmaceutical industry in Europe.
- Moreover, increasing demand for cellular therapies, vaccines, and blood products in the pharmaceutical industry is driving the growth of the region's pharmaceutical logistics market. The increase in demand for reverse logistics in the pharmaceutical sector, the rise in demand for temperature-sensitive pharmaceutical drugs, and the increase in the use of RFID technologies for pharmaceutical logistics are upcoming trends in the pharmaceutical logistics market in Europe.
- The growing pharmaceutical sales are expected to propel the growth of the healthcare logistics market. Increasing sales of pharmaceuticals are expected to boost the demand for logistics as the pharmaceutical products or drugs should be stored and transported to pharmacies, drug stores, and others, thus increasing the demand for transportation or healthcare logistics.
Europe Pharmaceutical Logistics Industry Overview
The European pharmaceutical logistics market is highly competitive and fragmented and consists of regional and international market players. A few existing major players in the market include DHL Supply Chain, FedEx, Kuehne + Nagel International AG, United Parcel Service, and CH Robinson. Some major domestic players include Eurotranspharma, Centre Specialties Pharmaceutiques, PostNL Pharma & Care, and Trans-o-Flex Schnell-Lieferdienst GmbH.
These companies are implementing next-generation logistics solution technologies into their services, such as automation, artificial intelligence and machine learning (AI and ML), blockchain, transportation management systems, and others, to increase supply chain productivity, reduce costs and avoid errors.
For instance, in April 2021, France-based CEVA Logistics launched the FOR PATIENTS healthcare logistics sub-brand. This new temperature-sensitive solution offers complete logistics solutions to healthcare and pharmaceutical companies in temperature-controlled facilities worldwide. CEVA will provide visibility and tracking solutions for real-time decisions through embedded location and temperature IoT devices.
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