What Has Been the Growth Trajectory for the Pharmaceutical Logistics Market in Recent Years?
The pharmaceutical logistics market has seen considerable growth due to a variety of factors.
• In recent years, the size of the pharmaceutical logistics market has seen a swift expansion. It is projected to escalate from a market value of $125.6 billion in 2024 to approximately $139.1 billion in 2025, representing a compound annual growth rate (CAGR) of 10.8%.
The surge in growth during the historical period can be attributed to factors like rigorous regulations, globalization of the pharmaceutical trade, the necessity for temperature-controlled logistics, the boom in e-commerce, and the expansion of the healthcare industry.
What Is The Forecast For The Pharmaceutical Logistics Market By 2029?
The pharmaceutical logistics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of pharmaceutical logistics is predicted to undergo swift escalation in the coming years, reaching a projected value of $216.57 billion by 2029, with a compound annual growth rate (CAGR) of 11.7%.
This predictive growth during the forecast period can be accounted for by factors such as market proliferation in emergent nations, practices designed to mitigate risk, improvements in supply chain transparency, the growth of the healthcare sector, and the progression of cold chain logistics. Key trends projected for this period include emphasis on safety and product quality, optimization of the global supply chain network, initiatives towards eco-friendly logistics, the need for real-time tracking, and requirements for regulatory adherence.
What Are The Core Factors Supporting Growth In Pharmaceutical Logistics Market?
The increasing need for pharmaceutical goods is projected to accelerate the expansion of the pharmaceutical logistics industry. These pharmaceutical products, defined as finished dosage forms of medication for human use regulated by pharmaceutical laws, rely crucially on logistics for the procurement, storage, and transport of resources. An instance of this would be in July 2024, a report by the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine (NLM), highlighted that the total pharmaceutical spending in the US for the year 2023 was $722.5 billion, marking a 13.6% growth from 2022. As such, the escalating demand for pharmaceutical products is bolstering the development of the pharmaceutical logistics market.
How Is The Globa Pharmaceutical Logistics Market Divided Into Key Segments?
The pharmaceutical logistics market covered in this report is segmented –
1) By Type: Cold Chain Logistics, Non-Cold Chain Logistics
2) By Component: Storage, Transportation, Monitoring Components
3) By Procedure: Picking, Storage, Retrieval Systems, Handling Systems
4) By Transportation: Sea Freight, Air Freight, Overland
5) By Application: Bio Pharma, Chemical Pharma, Specialty Pharma
Subsegments:
1) By Cold Chain Logistics: Refrigerated Transport, Temperature-Controlled Warehousing, Cold Chain Monitoring Systems, Packaging Solutions For Cold Chain
2) By Non-Cold Chain Logistics: Standard Transport Services, Ambient Warehousing, General Packaging Solutions, Supply Chain Management Services
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What Trends Are Reshaping The Pharmaceutical Logistics Market Landscape?
The growing trend of facility expansion in the pharmaceutical logistics market is gaining traction. To meet the logistics demand of the healthcare sector, manufacturers in this sector are focusing on broadening their facilities. As an example, UPS Healthcare, a healthcare logistics provider based in the US, inaugurated a new facility spanning 8,700 square meters in West Singapore in May 2023. This extended facility is set to offer additional services like packaging, labeling, return logistics, and local customs brokerage. The facility, located at Gul Circle, is readily accessible to PSA Terminals, the Tuas Biomedical Park's production cluster, and the forthcoming Tuas seaport. The up-to-date and futuristic logistics needs of the rapidly growing healthcare sector can be met by the 8,700-square-meter facility. Significantly, it features temperature-controlled storage facilities, accommodating healthcare products within a temperature range of -80 degrees to 25 degrees Celsius.
Who Are the Key Players in the Pharmaceutical Logistics Market?
Major companies operating in the pharmaceutical logistics market include:
• McKesson Corporation
• AmerisourceBergen Corp
• Cardinal Health Inc.
• Deutsche Post AG
• FedEx Corp
• Kuehne + Nagel International AG
• SF Holding Co Ltd.
• CR Pharmaceutical Group Ltd.
• DSV Panalpina A/S
• Schenker AG
• C.H. Robinson Worldwide Inc.
• Alfresa Holdings Corp
• Nippon Express Co Ltd.
• Air Canada Inc.
• Kerry Logistics Network Limited
• Lineage Logistics Holding LLC.
• Flexport Inc.
• Nichirei Logistics Group Inc.
• Mainfreight Ltd.
• Americold Logistics LLC.
• NFI Industries Inc.
• Agility Public Warehousing Company K.S.C.P.
• Profarma Distribuidora de Produtos Farmaceuticos S.A.
• United States Cold Storage Inc.
• NewCold Advanced Cold Logistics BV
• Cloverleaf Cold Storage Co
• Kingworld Medicines Group Ltd
• CEVA Logistics AG
• Kloosterboer Group BV.
• MEDIPAL HOLDINGS Corp
• B.C. Ice & Cold Storage Co
What are the Regional Insights into the Pharmaceutical Logistics Market?
North America was the largest region in the pharmaceutical logistics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
