Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 90.78 Billion | USD 201.44 Billion | 9.26% | 2023 |
According to Zion Market Research, the global Pharmaceutical Logistics Market was worth USD 90.78 Billion in 2023. The market is forecast to reach USD 201.44 Billion by 2032, growing at a compound annual growth rate (CAGR) of 9.26% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Pharmaceutical Logistics Market industry over the next decade.
Pharmaceutical logistics involves planning & execution of pharmaceutical supply chain operations. These functions comprise activities such as warehousing, transport, and inventory management. In addition to this, pharma logistics are highly sensitive to changing temperatures and hence are required to be stored at the proper temperature. To focus on core business, firms also outsource pharma logistics operations to third parties. The need for improving service quality as well as customer satisfaction in the pharma logistics business has resulted in the launching of the Kano model & importance-satisfaction model.
Escalating demand for over-the-counter medicines like vitamins, supplements, and minerals will open new vistas of growth for the pharmaceutical logistics industry over the upcoming years. The need for fast-track support for healthcare activities will change the phase of market growth in the years ahead. The necessity of decreasing distribution costs through the creation of a single source distribution channel will enhance the pharmaceutical logistics industry's growth over the forecast period. In addition to this, rapid inclination toward drugs along with a surge in sales of pharmaceuticals will drive pharmaceutical logistics market trends.
Moreover, an increase in the popularity of air freight logistics for intercontinental vaccine & medicine distribution will promulgate business growth over the forecast timeline. The rise in the occurrence of chronic ailments and a surge in the target patient population base will embellish market trends.
Report Attributes | Report Details |
---|---|
Report Name | Pharmaceutical Logistics Market |
Market Size in 2023 | USD 90.78 Billion |
Market Forecast in 2032 | USD 201.44 Billion |
Growth Rate | CAGR of 9.26% |
Number of Pages | 120 |
Key Companies Covered | CEVA Logistics, AmerisourceBergen Corporation, Agility, C.H. Robinson Worldwide, Inc., Air Canada, FedEx, United Parcel Service of America, Inc., PCI Pharma Services, Stellar Value Chain Solutions Pvt. Ltd., Continental Cargo OÜ, VersaCold Logistics Services, YUSEN LOGISTICS CO, LTD., KERRY LOGISTICS NETWORK LIMITED, LifeConEx, AGRO Merchants Group, Kuehne+Nagel, DSV, SF Express, Panalpina World Transport (Holding) Ltd., and MARKEN. |
Segments Covered | By Type, By Component, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
European Market To Register Notable Growth In Terms of Revenue By 2032
The growth of the pharmaceutical logistics industry in Europe over the forecast period can be credited to the rise in trading activities concerning pharma products in European countries such as Norway, Germany, France, and the UK. Apparently, escalating popularity of drugs including OTC medicines will prompt a regional industry surge over the assessment period. The presence of key players in Europe is anticipated to steer regional market trends.
Some of the leading players in the global market include
By Type
By Component
By Region
FrequentlyAsked Questions
Escalating demand for over the counter medicines like vitamins, supplements, and minerals will open new vistas of growth for pharmaceutical logistics industry over the upcoming years. Need for fast track support for healthcare activities will change phase of market growth in the years ahead. Necessity of decreasing distribution costs through creation of single source distribution channel will enhance pharmaceutical logistics industry growth over forecast period.
According to Zion Market Research, the global Pharmaceutical Logistics Market was worth USD 90.78 Billion in 2023. The market is forecast to reach USD 201.44 Billion by 2032, growing at a compound annual growth rate (CAGR) of 9.26% during the forecast period 2024-2032.
Europe will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is subject to rise in the trading activities concerning pharma products in European countries such as Norway, Germany, France, and the UK. Apparently, escalating popularity of drugs including OTC medicines will prompt regional industry surge over the assessment period. Presence of key players in Europe is anticipated to steer regional market trends.
The key market participants include CEVA Logistics, AmerisourceBergen Corporation, Agility, C.H. Robinson Worldwide, Inc., Air Canada, FedEx, United Parcel Service of America, Inc., PCI Pharma Services, Stellar Value Chain Solutions Pvt. Ltd., Continental Cargo OÜ, VersaCold Logistics Services, YUSEN LOGISTICS CO, LTD., KERRY LOGISTICS NETWORK LIMITED, LifeConEx, AGRO Merchants Group, Kuehne+Nagel, DSV, SF Express, Panalpina World Transport (Holding) Ltd., and MARKEN.
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