Los Angeles, United States, September 26, 2019 –In a recent research report by QY Research, titled, “Global Pharmaceutical Logistics Market” analysts have presented collation of facts and figures present in the market. Global pharmaceutical logistics market functions as an important part of the healthcare system. It is unique in nature because unlike other logistics it focuses on optimizing effectiveness and efficiency. The market works around availability and accessibility of pharmaceuticals as it is delivery of medical help is characterized by urgency.
In 2018, global revenue of pharmaceutical logistics was valued at US$76 bn and it is reach US$134.5 bn in 2025, rising at a CAGR of 7.2% during the forecast period.
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Digitization and Improvements in Pharmaceutical Logistics to Drive Growth
The pharmaceutical logistics consists of pharmaceuticals, medical supplies and equipment, medical devices both medical and surgical, and other products needed to support doctors, nurses, others involved in healthcare. This chain is a crucial aspect of the healthcare as the medical supplies are the basic and most expensive components among all. The stability of packaging is the governing factor in the market as medical supplies are at a higher risk of contamination, sterilization, or instability of ingredients, which is pushing the need to maintain and monitor them properly. The proper distribution of the drugs results in the growth of company’s reputation, profit, and customer satisfaction. Its availability in the market plays a major role for both company and government.
Over the year, digitization and improvement in logistics chains have led to the emergence of many new avenues in its management and distribution. Furthermore, increased demand for fast track assistance and household healthcare products has increased the demand for pharmaceutical logistics. Also, in order to decrease the distribution cost, companies are creating a single source distribution channels, which is further fueling the growth of the global pharmaceutical logistics market.
Cold Chain Segment to Hold Major Share of Global Pharmaceutical Logistics Market
Global pharmaceutical logistics market is segmented into type and end user application. The product type includes cold chain logistics and non-cold chain logistics. The cold chain segment is expected to dominate the market due to the increasing demand for temperature-controlled products. The application segment consists of ground transportation, shipping, and air transport. Companies are increasingly adopting shipping for transportation as it reduces the cost up by 80%, carbon footprint, and brings down staffing requirements, packaging, and storage needs.
Companies to Invest in Improvement of Supply Chain and Services
North America is leading the global pharmaceutical logistics market due to a strong presence of large companies. Rapid economic growth in Asia Pacific is expected to push the region to become the fastest-growing regional market during the forecast period. Other regions like Europe, South America, and the Middle East & Africa are also expected to hold sizeable shares in the market.
The leading manufacturers in the global pharmaceutical logistics market are Deutsche Post DHL, UPS, Kuehne + Nagel, FedEx, DB Group, DSV, SF Express, Nippon Express, Panalpina, CH Robinson, Kerry Logistics, CEVA, Yusen Logistics, World Courier, VersaCold, Air Canada Cargo, and Agility.
FedEx is one of the major player in the industry. They recently delivered the emergency supplies to relief workers in the Bahamas. The medical supplies, which includes medicines, hygiene kits, water treatment systems, and International Medical Corps’ Mobile Health Facility, were delivered by the FedEx Express Boeing 757. The critical aid was an initiative of FedEx Cares “Delivering for Good”, a relief effort on the company’s part. FedEx Cares uses its global network to help organizations with mission-critical needs in times of disaster. It is also an important part of FedEx Cares 50 by 50 goal to positively impact 50 million people around the world by the company’s 50th anniversary in 2023.
These efforts by FedEx are increasing the number of lucrative opportunities for the global pharmaceutical logistics market.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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