According to Precedence Research, the healthcare distribution market size is expected to hit US$ 1,380 billion by 2030, expanding growth at a registered CAGR of 7.8% from 2021 to 2030.
According to Precedence Research, the healthcare distribution market size is expected to hit US$ 1,380 billion by 2030, expanding growth at a registered CAGR of 7.8% from 2021 to 2030.
The growing research and development activities in the field of healthcare are expected to drive the growth of the global healthcare distribution market. As number of disorders and diseases are growing globally, so is the need of developing new drugs and medications is also rising at a rapid pace. Moreover, the rising prevalence of chronic disorders is contributing towards the expansion of the global healthcare distribution market over the projection period.
Get the sample copy of report@ https://www.precedenceresearch.com/sample/1259
The innovation and technological advancements are being leveraged by key market players. The innovative technologies utilized by healthcare distributors are internet of things, artificial intelligence, and blockchain. These technologies provide transparency in the supply chain management of healthcare supplies and medicines. Thus, adoption of new and innovative technologies is boosting the growth of the healthcare distribution market.
The sales of medicines and healthcare devices were raised due to the COVID-19 pandemic. This resulted into growth in revenue and profit for the major players in the global healthcare distribution market. Since a decade, there has been high growth in the sales of healthcare products through e-commerce platforms. This factor will drive the growth of the healthcare distribution market during the forecast period.
In addition, the significant market players are adopting variety of marketing strategies to build their image in the healthcare distribution market. Some of such strategies are merger, acquisition, business expansion, partnership, and product launch. Few of the suppliers and firms are also adopting strategy of forward integration. By doing this they are expanding their business on a large scale. The forward integration has many benefits such as it saves cost of logistics. Furthermore, it helps in improving supply chain management. Thus, such strategies will help the healthcare distribution market to grow significantly during the projected period.
Ask here for customization@ https://www.precedenceresearch.com/customization/1259
Report Highlights:
- Based on the product type, the pharmaceutical segment dominated the global healthcare distribution market in 2020 with largest market share. This is attributed to the growing research and development in the pharmaceutical sector and rising trend of outsourcing the business processes.
- On the basis of end user, the retail pharmacysegment holds the largest market share the global healthcare distribution market in 2020. The retail pharmacies have wide range of healthcare products. Thus, the wide availability of drugs and medications and ease of availability are factors driving the segment.
- North America is the largest segment for healthcare distribution market in terms of region. This is attributed to rising incidence of chronic disorders such as obesity, diabetes, and cancer in the North America is propelling the growth of the global healthcare distribution market in the region. Moreover, high utilization of technologies in the region is contributing towards the market growth.
- Asia-Pacific region is the fastest growing region in the healthcare distribution market.This is due to growing government efforts towards expansion of healthcare sector and existence of strict guidelines and regulations regarding healthcare distribution is supporting the growth of the healthcare distribution market in the Asia-Pacific region.
Future of Healthcare Distribution Market
The rise in internet penetration and smartphones has driven the growth of online sales channel. Nowadays, people are mostly preferring to buy products from e-commerce websites and platforms. Even developing and underdeveloped regions are preferring online sales channel for their day-to-day shopping. The drug stores and pharmacies are prominent distributors of healthcare products. The suppliers and distributors such as mass merchandisers are also gaining traction in the global healthcare distribution market. The introduction of new and innovative distribution channel will help the healthcare distribution market to grow at a steady pace in upcoming years.
Browse more Healthcare Industry Research Reports@ https://www.precedenceresearch.com/industry/healthcare
COVID-19 Impact Analysis:
- The COVID-19 impacted the business processes of each and every sector globally. But it had a positive impact on the growth of the global healthcare distribution market.
- The coronavirus outbreak increased the importance of sanitization. This resulted into surge in demand for sanitizers, gloves, masks, personal protective equipment, and immunity boosters.
- As a result, the workload for suppliers and distributors increased, providing positive outlook to the healthcare distribution market growth.
Key Developments in the Marketplace:
- McKesson partnered with Google Cloud in April 2019 to create new updated solutions for production process, pharmacy retail operations, and specialized pharmaceutical distribution network.
- PANTHERx Specialty Pharmacy and Cardinal Health partnered in April 2019 to expand their gene and cell therapy solutions with a synchronized portfolio of third-party logistics and specialty distribution.
- H.D. Smith was acquired by AmerisourceBergen in January 2018 to boost AmerisourceBergen’s tactical scalability and assistance for local pharmacies.
Major Market Segments Covered:
By Product Type
- Biopharmaceutical
- Pharmaceutical
- Medical Device
By End User
- Hospital Pharmacies
- Retail Pharmacies
- Other End Users
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Click Here to View Full Report Table of Contents
Buy this Research Report@ https://www.precedenceresearch.com/checkout/1259
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333