The global pharmaceutical logistics market size is anticipated to reach USD 97.6 billion by 2025 expanding at a CAGR of 3.5%, according to a new report by Grand View Research, Inc. The market development can be attributed to the rising demand for a variety of drugs as a result of increasing cases of chronic and lifestyle-related diseases. Pharmaceutical logistics is an important part of the healthcare system, as careful handling and transporting of pharmaceutical products is of utmost importance, therefore equipment and staff services involved in the pharma supply chain are highly expensive.
Consolidations among the pharma companies, to expand their business and global presence, is the latest trend gaining momentum in the market. Technological advancements, such as cloud-based supply chain functions and blockchain technology, which provide accurate and real-time data of operations will also have a positive impact on the pharma logistics market growth. Additionally, these technologies also offer predictive analytics to identify demand and supply chain optimization and risk management. Identifying risk and preventing them helps companies increase productivity, efficiency, and process optimization of their businesses.
The North America regional market accounted for the largest market share in 2018 and is expected to maintain its dominance over the forecast period. The market in Asia Pacific is projected to exhibit the highest CAGR from 2019 to 2025 owing to increasing financial budget for the healthcare sector in several emerging countries of the region. Some of the key market participants include FedEx Corp.; DB Schenker; Deutsche Post DHL; Air Canada Cargo; United Parcel Service of America, Inc.; CEVA Logistics; Continental Air Cargo; and Biotec Services International Ltd.
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https://www.grandviewresearch.com/industry-analysis/pharmaceutical-logistics-market
Further key findings from the study suggest:
- Logistics led the global market in 2018 and is expected to be the dominant segment even during the forecast period
- This growth can be attributed to the increased adoption of sea freight pharma logistics, which handles personalized medicines
- North American is expected to be the largest regional market over the next few years owing to the rising M&A activity in the region
- Prominent companies in the global pharmaceutical logistics market include FedEx Corp.; DB Schenker; Deutsche Post DHL; United Parcel Service of America, Inc.; CEVA Logistics; Continental Air Cargo; Biotec Services International Ltd.; and Air Canada Cargo
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For More Information: www.grandviewresearch.com
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For More Information: www.grandviewresearch.com
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