New York (US), June 02, 2023 (GLOBE NEWSWIRE) -- Pharmaceutical Warehousing Market Overview
The MRFR study reports imply that the “Pharmaceutical Warehousing Market Research Report Information by Type, Region, and Application - Forecast Till 2030” the global Pharmaceutical Warehousing Market is predicted to bolter substantially during the review era from 2023 to 2030 with a substantial growth rate of around 2.57%. The reports further predict the market will acquire nearly USD 112.32 Billion by the end of 2030.
Market Scope:
The pharmaceutical warehousing market has become a vital aspect of the pharmaceutical industry. By offering efficient, trackable, and secure storage of pharmaceuticals, wholesalers, distributors, drug manufacturers, and retailers can better manage their stock and supply chain operations. This allows them to respond quickly to changes in demand, offer timely delivery of goods, and fulfill regulatory standards and rising industry trends. The global pharmaceutical warehousing industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growth of the global pharmaceutical industry. Furthermore, the escalating demand for efficient and secure storage of medicines and other healthcare products is another crucial parameter enhancing the performance of the market.
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Competitive Analysis
The listing of the prominent leaders across the global market for pharmaceutical warehousing includes players such as:
- American Warehouse Company
- VERSANT Supply Chain
- FedEx Corporation
- International Warehouse Logistics Association (IWLA)
- Cardinal Health
- GlaxoSmithKline
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | USD 112.32 Billion |
| CAGR | 2.57% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application & Region |
| Geographies Covered | Europe, Asia Pacific, North America, and the Rest of the World |
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Market USP Covered
Market Drivers
The global pharmaceutical warehousing industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growth of the global pharmaceutical industry. Furthermore, the escalating demand for efficient and secure storage of medicines and other healthcare products is another crucial parameter enhancing the performance of the market. Moreover, the development of new warehouse management systems and the increased focus on automation are also likely to positively impact the growth of the market over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated.
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COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Pharmaceutical warehousing market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
Segment Analysis
Among all the services, the storage and packaging services segment is anticipated to ensure the leading position across the global pharmaceutical warehousing market, mainly due to their criticality. The rising demand for packaging and storage services is caused by the requirement to guarantee secure and safe storage to prevent pharmaceutical product degradation, tampering, and contamination throughout the supply chain.
Among all the types, the cold chain logistics segment is predicted to ensure the lead across the global pharmaceutical warehousing market. This is mainly due to the rising demand for temperature-controlled products, such as the constant distribution of COVID-19 vaccines that need precise temperature-control logistics services to maintain the products' efficacy.
Among all the components, the storage segment is anticipated to hold the top position across the global market for pharmaceutical warehousing over the coming years owing mainly to the rapidly rising demand for generic and branded pharma products. On the contrary, the monitoring components segment is predicted to showcase the maximum growth rate over the coming years, given the rising requirement to ensure the efficiency, safety, and integrity of cold chain products.
Regional Analysis
The global market for pharmaceutical warehousing is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the North American region is anticipated to ensure the top position across the global pharmaceutical warehousing industry over the review timeframe. The presence of major pharmaceutical players across the region is considered the main parameter supporting regional market development. Furthermore, the regulatory requirements for drug storage are also considered to be one of the crucial parameters enhancing the performance of the regional market. Moreover, the growing number of development of warehouses is also likely to positively influence the growth of the regional market over the coming years.
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The European regional market for pharmaceutical warehousing is anticipated to showcase considerable development over the coming years. The substantial growth in the pharmaceutical product trade is the main parameter supporting regional market development. Furthermore, the factors such as growing production & demand for several categories of pharma products and the rise of the global COVID-19 pandemic have also positively impacted the market performance in recent times.
The Asia-Pacific regional market pharmaceutical warehousing is predicted to showcase the maximum growth rate over the coming years, given factors such as the rapid economic growth in emerging countries and a geographic shift in production and sales locations.
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