Pharmaceutical Logistics Market to Garner Grow 8.3% by 2030

The pharmaceutical logistics market is projected to garner grow at a CAGR of 8.3% during the forecast period and expected to reach over US$ 159.14 billion by 2030.

The pharmaceutical sector is one of the top most growing sectors all over the globe. The production of drugs and medications take place on a regular basis. The drugs and medicines are such products that need proper place for storage. The transport of pharmaceutical products is highly risky. Here, the pharmaceutical logistics very critical role. Thus, this has also created demand and need for the pharmaceutical logistics globally.

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Some of the pharmaceutical products and drugs are sensitive to the high temperature. This creates the surge in demand for cold chain logistics. The technological advancements and innovation are creating new solutions in the pharmaceutical logistics market. In addition, the non-cold chain and cold chain logistics are two distinctive types of the pharmaceutical logistics, which are used on a large scale.

The key developments and expansion of the supply chain management is paving way for the growth of the global pharmaceutical logistics market over the projected period. The order processing, inventory management, inventory logistics, warehousing, packaging, and cargo handling are important components for the pharmaceutical logistics market. All these processes play vital role in the pharmaceutical logistics market.

The major market players of pharmaceutical logistics are closely working with the government for the improvement of logistics services. Some of the manufacturers of the pharmaceutical products and drugs are adopting forward integration strategy. This strategy enables manufactures to save cost and money. The trend of outsourcing is boosting the growth of the global pharmaceutical logistics market. The outsourcing enables market players to provide services to the clients effectively. The outsourcing is done by third party. The third-party outsourcing helps major market players to deliver the drugs and medications on time to the hospitals and healthcare centers. As a result, all of these aforementioned factors are propelling the growth of the global pharmaceutical logistics market.

Report Highlights:

• Based on the type, the non-cold chain logisticssegment dominated the global pharmaceutical logistics market in 2020 with largest market share. The non-cold chain logistics segment is growing due to surge in demand for drugs and medications. The vaccines of coronavirus outbreak are also stored in the non-cold chain logistics. This has the demand for the segment.
• On the basis of component, the storagesegment holds the largest market share the global pharmaceutical logistics market in 2020.The pharmaceutical products and medications require huge storage. This is driving the segment growth during the forecast period.
• Europe is the dominating segment for pharmaceutical logistics market in terms of region.The factors such as growing demand for over the counter (OTC) drugs and growth in the pharmaceutical sector are boosting the growth of the pharmaceutical logistics market in North America region.
• Asia-Pacific region is the fastest growing region in the pharmaceutical logistics market.The expansion of the pharmaceutical logistics market in Asia-Pacific region is attributed to the growing need for storage of medications and drugs and existence of key market players.

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Future of Pharmaceutical Logistics Market

The market for pharmaceutical logistics is rising due to surge in demand for medicines and drugs. Due to increasing prevalence of chronic disorders, the demand for drugs and medications are rising on a large scale. This has also created demand for over the counter (OTC) drugs globally. The main factor driving the need and demand for over the counter (OTC) drugs and medicines is shift in consumer patterns from prescription drugs to over the counter (OTC) drugs. Some of the drugs require cold storage containers for the storage of such medications. The demand for over the counter (OTC) drugs is rising rapidly all around the world. Thus, the growth of the global pharmaceutical logistics market is expected in the near future.  

COVID-19 Impact Analysis:

• The global pharmaceutical logistics market has saw substantial growth during the COVID-19 pandemic.
• Due to coronavirus outbreak, the demand for drugs, medicines, and vaccines increased dramatically due to the growing number of patients.
• These medications need proper storage, especially vaccines should be stored properly in cold storage.
• Thus, all these factors boosted the demand for pharmaceutical logistics during 2020 pandemic.  

Key Developments in the Marketplace:

• United Parcel Service of America Inc. declared the introduction of the UPS Premier in May 2020, expandingthe organization’s healthcare services. By utilizing next generation sensor technologies and monitoring, UPS Premier hopes to increase the service dependability and visibility of healthcare goods.
• DHL Supply Chain declared in June 2021 that it would expand its pharmaceutical logistics capacity by erecting three 32,000 square meter facilities in Germany. 

Market Segmentation

By Type

• Cold Chain Logistics
• Non-cold Chain Logistics

By Component

• Storage
  • Warehouse
  • Refrigerated container
• Transportation
  • Sea freight Logistics
  • Airfreight Logistics
  • Overland Logistics
• Monitoring components
  • Hardware
    • Sensors
    • RFID Devices
    • Telematics
    • Networking Devices
  • Software

By Application

• Bio Pharma
• Chemical Pharma
• Speciality Pharma

By Procedure

• Picking
• Storage
• Retrieval Systems
• Handling Systems

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• MEA

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