LONDON, March 21, 2024 (GLOBE NEWSWIRE) -- The global market for pharmaceutical supply chain management has seen significant growth in recent years, as indicated by the latest report titled " Pharmaceutical Supply Chain Management Global Market Report 2024" from The Business Research Company.
Pharmaceutical Supply Chain Management Market Growth Trajectory
The pharmaceutical supply chain management market has shown strong growth, projected to rise from $2.36 billion in 2023 to $2.6 billion in 2024 at a CAGR of 10.0%. This growth is attributed to factors such as regulatory compliance, globalization, and demand for personalized medicine.
Forecasted to reach $3.63 billion by 2028 with an 8.7% CAGR, the pharmaceutical supply chain management market will be driven by trends like precision medicine, data security, and e-commerce integration. Key trends include digital transformation, collaboration, and sustainability efforts, reflecting the industry's focus on innovation and efficiency.
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Advancing Pharmaceutical Supply Chain Management through Innovation
The increasing need for pharmaceuticals is anticipated to drive growth in the pharmaceutical supply chain management sector. These products, including medications and drugs used for preventing, treating, or managing medical conditions, rely on efficient supply chain management for their development, manufacturing, and distribution. This ensures timely access to crucial healthcare resources.
Key players in the pharmaceutical supply chain management market are pioneering innovative solutions, such as multi-enterprise supply chain work management systems, to streamline operations and foster collaboration across the industry. These solutions, comprising specialized software or platforms, aim to optimize supply chain processes across multiple organizations within the pharmaceutical sector.
Industry Players
Major companies operating in the pharmaceutical supply chain management market report are McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health Inc., Oracle Corporation, SAP SE, DSV Panalpina, UPS Healthcare, Parexel International Corporation, Spectrum Health Medical Group, Vizient Inc., Catalent Inc., Infor Inc., Epicor Software Corporation.
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Regional Insights
In 2023, Asia-Pacific emerged as the dominant region in the pharmaceutical supply chain management market, boasting the highest market share. Looking ahead, Asia-Pacific is projected to maintain its lead as the fastest-growing region throughout the forecast period. The report on the pharmaceutical supply chain management market encompasses a comprehensive analysis of various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Pharmaceutical Supply Chain Management Segmentation
The pharmaceutical supply chain management market analyzed in this report is segmented based on three key criteria:
- By Component: The market is divided into two main components, namely Solutions and Services.
- By Deployment Mode: It encompasses two deployment modes, namely On-Premise and Cloud-Based solutions.
- By End-Use: The market caters to various end-users including Healthcare Manufacturers, Healthcare Providers, Distributors, and Logistics companies.
Pharmaceutical Supply Chain Management Global Market Report 2024 by The Business Research Company provides insights on the pharmaceutical supply chain management market size, pharmaceutical supply chain management market segments, pharmaceutical supply chain management market trends, pharmaceutical supply chain management market drivers and restraints, pharmaceutical supply chain management market major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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