The global pharmaceutical logistics market size was exhibited at USD 83.76 billion in 2022 and it is expected to hold around USD 159.14 billion by 2030, growing at a CAGR of 8.3% from 2022 to 2030.

Pharmaceutical logistics covers pharmaceutical products' production, processing, packaging, and distribution. It also covers the activities related to handling pharmaceutical goods for their customers. Logistics plays an essential role in the pharmaceutical industry. The company has to deliver equipment and drugs on time. These are needed in critical and emergencies. Pharmaceutical Logistics companies know their responsibility and focus on providing pharmaceutical products on time. They are notably high value.

Transportation of medicines and drugs is very sensitive. They prioritize the strategic planning to transport pharmaceutical products. Many logistics companies are handling the requirements of the pharma companies with care. The logistics companies offer prompt transportation services and on-time deliveries. Managing the finished goods is very expensive. It is a significant concern for the pharmaceutical industry.  

Get the Sample Copy of This Report@ https://www.precedenceresearch.com/sample/1443

Growth Factors 

The pharmaceutical logistics industry witnessed growth due to the short-term impact of the COVID-19 pandemic. Governments worldwide are emphasizing healthcare and medicinal supply for patients. The trade of medicines is increasing. The emergence of the COVID-19 virus has made pharmaceutical companies invest heavily in research and trials for launching vaccines. Many companies were doing clinical trials of vaccines across the globe. Pharmaceutical companies are looking to distribute vaccines globally. They have to make a resilient supply chain. Hence, it is expected to drive the market's growth significantly during the forecast period. The demand for medicines was high during the covid.

The increasing demand for Over-the-Counter (OTC) medicines catalyzes market growth. The rising importance of assistance in the healthcare industry positively influenced the market for pharmaceutical logistics. The market players are entering into mergers and acquisitions to expand their geographical presence. They are also focusing on lowering packaging costs. Pharmaceutical logistics companies are prone to the risks of product adulteration during transport. The key players are heavily investing in state-of-the-art technologies. They are introducing telematics and remote monitoring. This, in turn, is propelling the market growth. Pharmaceutical companies are outsourcing packaging activities from third-party providers. They are expanding their operations in untapped regions. The demand for pharmaceutical logistics is increasing due to the rising demand for generic drugs. There is the presence of many local and global companies. Some pharmaceutical logistics companies offer cloud-based supply chain solutions. It ensures the authenticity of the drugs and prevents the production of counterfeit drugs.

The growing demand for sea and air freight pharmaceutical logistics propels market growth. It decreases the carbon footprint of logistics operations and reduces transportation costs and staffing requirements. Pharmaceutical logistics are used for the long-distance distribution of medicines and vaccines.  

Pharmaceutical logistics Market Report Scope

Report Highlights: 

• Based on the type, cold chain logistics dominated the market and accounted for the largest revenue share. This is due to the increasing demand for temperature-controlled products. The rising distribution of COVID-19 vaccines significantly contributes to the segment's growth. These vaccines require accurate temperature control logistics services. The stringent government regulations for highly temperature-sensitive pharmaceutical products catalyzed the segment growth during the forecast period.
• The integration of telematics in cold-chain pharmaceutical logistics propels the market growth. Most medical products need a temperature-controlled environment during manufacturing and distribution. It aids in maintaining the effectiveness and quality of the medicines. The pharma companies use cold storage systems and temperature-controlled transportation. The non-cold chain segment is expected to witness a promising CAGR in the coming years. This is due to the increasing demand for non-cold chain pharma medicines. 
• Based on the component, storage dominated the market and accounted for the largest revenue share. The increasing requirement for generic and branded pharma products' has catalyzed the growth of the segments. It requires storage facilities to preserve the products' efficacy before distribution through multiple channels to distributors and retailers. The pandemic generated a demand for temperature-sensitive storage facilities. This catalyzed segment growth over the coming years. The changing lifestyles of consumers drive the demand for nutritional supplements and temperature-sensitive protein. All these factors are expected to boost the segment during the forecast period.
   
• The monitoring components are expected to witness a promising CAGR in the coming years. This is due to the need to ensure the safety and efficacy of cold chain products. This segment is divided into hardware and software components. The transportation segment is expected to grow considerably over the forecast period. It is further divided into sea freight, air freight, and overland logistics. The rising demand for sea-based pharmaceutical logistics propels market growth. The sea-based pharmaceutical logistics can manage personalized medicines and sensitive large-molecule biologics.  

Ask Here for Customization@ https://www.precedenceresearch.com/customization/1443

Regional Snapshots 

Based on the region, Europe dominated the market and accounted for the largest revenue share. It is expected to maintain its dominance in the coming years. This is due to the increasing demand for medicines and drugs. There was a high level of pharmaceutical products trade across European countries. The European countries include Germany, the U.K., France, the Nordics, and others. The surging production of pharma products such as OTC medicine significantly contributes to market growth across the region.

The Asia Pacific region is expected to witness a promising CAGR in the coming years. This is due to rapid economic growth. The increasing demand for OTC medicines positively influenced market growth. The significant growth in the pharmaceutical industry catalyzed the market. The pharmaceutical industry is witnessing a shift in production. The key market players are finding lucrative opportunities across the region. All these factors are expected to boost the market growth in these regions. 

Market Dynamics: 

Driver: Growth in the pharmaceutical industry 

The significant growth in the pharmaceutical industry positively influences market growth. In line with this, the increasing demand for reverse logistics catalyzes market growth. Furthermore, the rising global trade activities of medicines and vaccines propel market growth. Apart from this, the growing demand for temperature-sensitive pharma drugs strengthens the market.

Moreover, the heavy investments in the pharmaceutical industry create a positive outlook for the market. Besides, the development of RFID technologies favors market growth. Additionally, the market players focus on product safety and efficacy. The rising demand for effective cold chain logistics services positively influences market growth.  

Opportunity: Rising demand for reverse logistics 

The rising demand for reverse logistics offers lucrative opportunities for market growth. In line with this, solid waste is carried from hospitals to reverse logistics companies. These wastes are hazardous and, thus, need reverse logistics. The expired drugs are returned to the producers. Reverse logistics help in the safe disposal of pharmaceutical products. Government regulations are stringent regarding the disposal of medical waste.

Due to this, pharmaceutical companies need reverse logistics operations. The rising government and private players' initiatives create a positive outlook for the market. The escalating recalls for pharmaceutical drugs propel market growth.  

Restraint: lack of standardization 

There needs to be more standardization in pharmaceutical logistics. This factor is restricting the market growth. In line with this, the lack of accreditation hampers the growth of the pharmaceutical industry and pharmaceutical logistics. The quality of warehouse space is a significant concern. The companies are investing in upgrading the space. 

Challenge: Fluctuations in the pricing policies 

The fluctuations in the pricing policies from place to place worldwide challenge the growth of the pharmaceutical logistics market. Furthermore, there's a rising need for interlinked and coordinated logistics with secrecy in the pharmaceutical products supply chain. All these factors are expected to limit the growth of the pharmaceutical logistics market.  

Related Reports

Home Medical Equipment Market 2022 To 2030

https://www.precedenceresearch.com/home-medical-equipment-market

Orphan Drugs Market 2022 To 2030

https://www.precedenceresearch.com/orphan-drugs-market

Clinical Decision Support Systems Market 2022 To 2030

https://www.precedenceresearch.com/clinical-decision-support-systems-market

Key Developments: 

• In October 2018, FedEx acquired a logistics service provider named Manton Air-Sea Pty Ltd. With this step, FedEx expanded its geographical footprint across the Asia Pacific region.  

• In January 2019, FedEx acquired International Express Business from Flying Cargo Group. This acquisition boosted FedEx's portfolio and regional presence. 
• In May 2020, United Parcel Service of America, Inc. expanded its healthcare capabilities with the launch of the new UPS Premier. 

Major Key Players

• FedEx
• Agility
• CEVA Logistics
• Deutsche Post AG
• VersaCold Logistics Services
• LifeConEx
• Air Canada
• United Parcel Service of America Inc.
• DB Schenker
• Marken

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

Regional Segmentation

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

https://www.precedenceresearch.com/table-of-content/1443  

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/1443

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com |