Pharmaceutical Logistics Market Size to Reach USD 173.6 Billion by 2030 Says Acumen Research and Consulting

LOS ANGELES, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The Global Pharmaceutical Logistics Market Size accounted for USD 81.2 Billion in 2021 and is projected to achieve a market size of USD 173.6 Billion by 2030 rising at a CAGR of 8.8% from 2022 to 2030.

Pharmaceutical Logistics Market Overview

Pharmaceutical Logistics Market is an essential part and one of the fastest growing segments of the pharma and logistics industry that encompasses the transportation, storage, and distribution of pharmaceutical products. This market is driven by a number of factors, including the increasing demand for pharmaceutical products globally, the growing importance of supply chain management in the pharmaceutical industry, and the need for efficient and cost-effective logistics solutions.

One of the key trends in the Pharmaceutical Logistics Market is the increasing use of advanced technology, such as RFID and GPS tracking, to improve the efficiency and accuracy of logistics operations. RFID tags, for instance, can be used to track the location of individual packages and pallets of pharmaceutical products, allowing for real-time monitoring of inventory levels and reducing the risk of lost or stolen products.

Another trend in the Pharmaceutical Logistics Market is the growing importance of cold chain logistics, which involves the transportation and storage of temperature-sensitive pharmaceutical products. This is particularly important for products such as vaccines and biologics, which require strict temperature control to maintain their effectiveness. Many logistics companies are investing in specialized equipment and technology, such as refrigerated containers and temperature-controlled warehouses, to meet this demand.

Pharmaceutical Logistics Market Research Report Highlights and Statistics

• The global Pharmaceutical Logistics market size in 2021 stood at USD 81.2 Billion and is set to reach USD 173.6 Billion by 2030, growing at a CAGR of 8.8%
• The market is driven by factors such as the increasing demand for pharmaceutical products, rising outsourcing of logistics services, and the growing need for efficient supply chain management.
• The cold chain segment is evaluated to grow at the fastest CAGR during the forecast period, due to the increasing demand for temperature-sensitive pharmaceutical products, such as vaccines and biopharmaceuticals.
• North America dominates the pharmaceutical logistics market share due to the presence of a large number of pharmaceutical companies and the presence of advanced healthcare infrastructure.
• The Asia Pacific region is projected to witness the highest growing pharmaceutical logistics market share during the forecast period, due to the increasing demand for pharmaceutical products in countries including China and India, and the growing adoption of advanced logistics solutions in the region.
• Some of the major companies operating in the market include DHL Supply Chain, Kuehne + Nagel, UPS Supply Chain Solutions, FedEx Supply Chain, and DB Schenker.
• The pharmaceutical logistics market has some of the highest regulations and requires strict compliance with good manufacturing practices (GMP) and good distribution practices (GDP) guidelines.
  

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Pharmaceutical Logistics Market Report Coverage:

Trends in the Pharmaceutical Logistics Market

• Cold Chain Logistics which includes refrigerated transportation, storage, and packaging solutions to ensure that the products are kept at the appropriate temperature throughout the supply chain.
• E-commerce and Direct-to-consumer (DTC) deliveries: E-pharma has gained immense popularity in recent years, the companies offer attractive discounts, fast deliveries as well as free online prescriptions for common health issues. All of which is very convenient for consumers,
• Advancements in technology: The use of technology is increasing in the pharmaceutical logistics market. Advancements in areas such as IoT, blockchain, and big data analytics are helping to improve supply chain visibility, track and trace capabilities, and predict potential supply chain disruptions.
• Companies have been increasingly focusing on sustainability and are looking for ways to reduce their environmental impact. This includes the use of electric vehicles and alternative energy sources for transportation, and the implementation of recycling and waste reduction programs.
• Regulatory compliance: The pharmaceutical logistics market is highly regulated, and companies are investing in compliance management solutions to ensure they are meeting the necessary regulations and guidelines. This includes compliance with good manufacturing practices (GMP) and good distribution practices (GDP) guidelines.
  

Pharmaceutical Logistics Market Dynamics

Increasing demand for pharmaceutical products: The global population is increasing, and with it, the demand for pharmaceutical products is also increasing. That said many countries have been investing heavily in their healthcare infrastructure and the number of people having health issues have also increased dramatically.

Rising outsourcing of logistics services: Pharmaceutical companies are outsourcing logistics services to third-party logistics providers to improve their supply chain efficiency and reduce costs.

Growing need for efficient supply chain management: With the increasing demand for pharmaceutical products, there is a growing need for efficient supply chain management to ensure timely delivery of products to customers.

Advancement in RFID and GPS tracking technology have led to improved visibility and traceability in the pharmaceutical logistics market, which is driving its growth.

Growing e-commerce market for pharmaceutical products in recent years: The e-commerce market is growing and the trend of online purchasing of pharmaceutical products is increasing, this is leading to a growth in the pharmaceutical logistics market.

Increase in demand for temperature-sensitive pharmaceutical products which include vaccines, biopharmaceuticals, and others is increasing leading to a growth in the cold chain segment of the pharmaceutical logistics market.

Pharmaceutical Logistics Market Growth Hampering Factors

Stringent regulations: The pharmaceutical logistics market is highly regulated. It is demanded from companies to comply with good manufacturing practices (GMP) and good distribution practices (GDP) guidelines. This can increase the cost of operations posing a challenge for SMEs to operate in the market.

Lack of standardization: Inefficient standardization in the market for pharmaceutical logistics can make it difficult for companies to comply with regulations and for customers to know what to expect.

Limited infrastructure and lack of modern logistics facilities can make it difficult to transport and store pharmaceutical products, especially temperature-sensitive products.

High costs of transportation, storage, and handling of pharmaceutical products have the capability of making it difficult for companies to remain competitive and pass these costs onto customers.

Security concerns: The transportation and storage of pharmaceutical products can pose security risks, such as theft, loss, and damage. This can increase costs and make it difficult for companies to ensure that products are delivered to customers in a timely and secure manner.

Climate change effects on logistics: There is a possibility that climate change can have a huge impact on the logistics of pharmaceutical products, particularly in terms of temperature control, as the increase in temperature can lead to the spoilage of products, which in turn can lead to a significant loss of revenue.

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Market Segmentation

By Type

• Non Cold Chain Logistics
• Cold Chain Logistics

By Component

• Storage
• Transportation
• Monitoring Components
  

By Application

• Bio Pharma
• Chemical
• Specialized Pharma Products
  

By Procedure

• Retrieval Systems
• Picking
• Handling Systems
  

Pharmaceutical Logistics Market Overview by Region

In the North American continent, the Pharmaceutical Logistics market share is driven by the increasing demand in the healthcare and food processing industries. The healthcare sector is a major user of Pharmaceutical Logistics as it requires the use of these coatings on medical equipment and surfaces to prevent the spread of infectious diseases. The food processing industry also uses these coatings to maintain the hygiene and safety of food products.

In the European region, the Pharmaceutical Logistics market size is being exceeded by the increasing awareness about the importance of maintaining a clean and hygienic environment. The European continent also has some of the strictest rules when it comes to maintaining hygiene, which is also an important factor responsible for the market growth in the region. The use of Pharmaceutical Logistics in building interiors and public spaces is also increasing due to the need to control the spread of microorganisms in these areas.

For the Asia-Pacific region, the Pharmaceutical Logistics market share is driven by the increasing adoption of these coatings in various applications in countries which include China and India. These countries have been investing highly in their healthcare infrastructure as well as food processing industries.

For Latin America and MEA regions, the Pharmaceutical Logistics market share is relatively low, nonetheless, we can still see a good amount of growth in these regions in the years to come.

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Pharmaceutical Logistics Market Key Players

DHL Supply Chain, Kuehne + Nagel, UPS Supply Chain Solutions, FedEx Supply Chain, DB Schenker, CEVA Logistics, DSV Panalpina, XPO Logistics, Nippon Express, Agility, GEODIS, Sinotrans, Kerry Logistics, Hellmann Worldwide Logistics, DSV Panalpina, Agilent Technologies, Arkas Line, BioPharma Logistics, Bolloré Logistics, C.H. Robinson, CHEP, CMA CGM, Crowley Logistics, DIMERCO Express, Expeditors International and Flexport.

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