Global Cold Chain Logistics Market for Pharmaceuticals Industry 2018-2022| Growth Analysis and Forecast| Technavio
Published: Oct 09, 2018
LONDON--(BUSINESS WIRE)-- Technavio’s research report on the global cold chain logistics market for the pharmaceuticals industry forecasts the market to grow at a CAGR of around 7% during the forecast period.
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Technavio has published a new market research report on the global cold chain logistics market size for the pharmaceuticals industry for the period 2018-2022. (Graphic: Business Wire)
The growing consolidation in the global healthcare logistics market will be one of the major trends in the global cold chain logistics market for the pharmaceuticals industry during 2018-2022. The high fragmentation in the cold chain logistics market for pharmaceuticals industry poses as a challenge for the key vendors to expand in new geographies. Hence, market consolidation will act as a strategic tool and assist the key vendors in expanding their business. MNX Global Logistics has already acquired the Australia-based specialty healthcare logistics service provider Logical Freight Solutions, which helped them in enhancing their temperature-sensitive logistics operations in APAC.
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According to Technavio analysts, one of the key drivers for the global cold chain logistics market for the pharmaceuticals industry is the increase in global demand for pharmaceuticals:
Global cold chain logistics market for the pharmaceuticals industry: Increase in the global demand for pharmaceuticals
There was a substantial increase in the global life expectancy during 2010-2016. The global pharmaceutical sales are expected to reach USD 1.55 trillion due to the increase in average life expectancy. The Affordable Care Act, a health insurance scheme by the US government, contributed to the high growth of the pharmaceutical sales. Similarly, the launch of the National Health Protection Scheme in India in 2018 will drive the demand for pharmaceutical products.
According to a senior research analyst at Technavio, “The end-user companies need specialized cold chain healthcare logistics services for efficient transportation, warehousing, and distribution of pharmaceuticals in large volumes. This is expected to boost the growth of the global cold chain logistics market for pharmaceuticals industry during the forecast period.”
Global cold chain logistics market for the pharmaceuticals industry: Segmentation analysis
The global cold chain logistics market analysis report provides market segmentation by service (warehousing and VAS and transportation) and by region (the Americas, APAC, and EMEA). This cold chain logistics market forecast report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major service segments, the warehousing and VAS segment dominated the market by accounting for around 56% of the total market share. The warehousing and VAS segment will continue to dominate the global cold chain logistics market for pharmaceuticals industry due to the increasing investments in logistics and growing demand for pharmaceuticals across the globe.
APAC held the largest share of the market in 2017, accounting for about 37% share. It was followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2018-2022. The global cold chain logistics market for pharmaceuticals industry in APAC is anticipated to record a high growth rate owing to the development of the healthcare market in Asia.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Source: Technavio Research