NEW YORK, Dec. 14, 2023 /PRNewswire/ — The pharmaceutical logistics market size is expected to grow by USD 11.96 billion from 2023 to 2028. However, the growth momentum of the market will be progressing at a CAGR of 2.46% during the forecast period. The market is segmented by type (non-cold chain logistics and cold chain logistics), service (storage and transportation), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
Growing global pharmaceutical sales is the key factor driving market growth. By 2024, global sales of medicinal products are expected to reach USD 1.4 trillion. In addition, there is an increase in the incidence of chronic diseases and the need for improved medical assistance. The increased number of patients requires a major investment in state-of-the-art equipment for effective treatment. Hence, such factors are expected to drive the growth of the market during the forecast period.
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Key Highlights:
- The report recognizes the following as some of the key players in the pharmaceutical logistics market: Abu Dhabi Ports PJSC, AP Moller Maersk AS, AWL India Pvt. Ltd., CJ CheilJedang Corp., CMA CGM SA Group, DB Schenker, Deutsche Post AG, DSV AS, FedEx Corp., Gemadept Corp., GEODIS, Kuehne Nagel Management AG, Nippon Yusen Kabushiki Kaisha, Pharma Logistics LLC, SF Express Co. Ltd., Tiong Nam Logistics Holdings Berhad, United Parcel Service Inc., Varuna Group, WHA Corp. PCL, and YCH Group
- The Pharmaceutical Logistics Market is fragmented in nature.
- Market to observe 2.32% YOY growth in 2024.
Market Dynamics:
Key Trend-
- High demand for personalized medicine is the primary trend shaping market growth.
- The development of and distribution of specialized medicinal products, e.g. gene therapies, immunotherapies, or therapeutic targets, is increasingly involved in personalized medicine.
- Efficient inventory management and traceability are essential, owing to the unique nature of personalized medicine. Individual treatment can be managed and monitored by logistics providers.
Significant Challenge-
- The high cost associated with pharmaceutical logistics is a challenge that affects market growth.
- The costs of setting up a warehouse, which is extremely dependent on the price of land, shall be borne when calculating the cost of constructing a cold storage unit or temperature control warehouse.
- High infrastructure costs to build or construct new cold storage units are an important component of the cost structure.
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Keg Segments:
The non-cold chain logistics segment is estimated to witness significant growth during the forecast period. Various packaging materials such as blister packs, flasks, labels, and inserts that are generally not sensitive to temperature but can be exported in normal conditions of transport need to be used by the pharmaceutical industry. Non-cold chain logistics are important for the efficient distribution of a broad range of pharmaceutical products, including oral medications, topical creams, medical devices, and non-perishable medical supplies.
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Related Reports:
The pharmaceutical equipment market is estimated to grow by USD 5,454.44 million at a CAGR of 6.67% between 2022 and 2027.
The road logistics market is estimated to grow by USD 782.97 billion between 2022 and 2027 exhibiting a CAGR of 3.59%.
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Pharmaceutical Logistics Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.46% |
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Market Growth 2024-2028 |
USD 11.96 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
2.32 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 45% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abu Dhabi Ports PJSC, AP Moller Maersk AS, AWL India Pvt. Ltd., CJ CheilJedang Corp., CMA CGM SA Group, DB Schenker, Deutsche Post AG, DSV AS, FedEx Corp., Gemadept Corp., GEODIS, Kuehne Nagel Management AG, Nippon Yusen Kabushiki Kaisha, Pharma Logistics LLC, SF Express Co. Ltd., Tiong Nam Logistics Holdings Berhad, United Parcel Service Inc., Varuna Group, WHA Corp. PCL, and YCH Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Service
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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