Pharmaceutical Logistics: Market Growth Analysis 2024-2032
As per Triton’s report, the global pharmaceutical logistics market attained $94856.53 million in 2023 and is projected to advance with a CAGR of 7.67% over the forecast years 2024-2032.
A recent study by Triton Market Research titled the Global Pharmaceutical Logistics Market report is sectioned based on Pharma Type (Branded Drugs, Generic Drugs, OTC), Component (Storage [Warehouse, Refrigerated Containers], Transportation [Sea Freight Logistics, Overland Logistics, Air Freight Logistics], Monitoring components [Software, Hardware (Telematics, RFID Devices, Sensors, Networking Devices)]), Logistics Type (Cold Chain Logistics, Non-Cold Chain Logistics), Therapy Area (Pain Management, Respiratory Diseases, Oncology, Communicable Diseases, Cardiovascular Diseases, Diabetes, Autoimmune Diseases, Neurological Disorders, Other Therapy Areas), and Regional Outlook (Europe, Middle East and Africa, North America, Asia-Pacific, Latin America).
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Pharmaceutical logistics has seen significant growth due to the growth of the pharmaceutical industry. Key players in this sector include pharmaceutical logistics companies and third-party
logistics providers. These organizations offer crucial services such as transporting, storing, and distributing pharmaceutical products.
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Triton’s research suggests that the global market for pharmaceutical logistics is set to witness growth at a CAGR of 7.67%, gaining revenue worth $185139.34 million by 2032.
The rising opportunities in cell and gene therapy, digital transformation, and growing demand for clinical trial logistics create novel opportunities for the pharmaceutical logistics market. Clinical trial logistics plays a crucial role in ensuring that the necessary clinical supplies for medical devices or drug studies are available in accordance with established protocols and regulatory standards. As the field of personalized medicine expands, the clinical supply chain is also becoming more tailored to individual needs. Partnering with comprehensive and international service providers like Yourway company for clinical supply chain logistics offers a strategic approach to accelerate market entry, reduce risks, and enhance overall supply chain efficiency.
On the contrary, strict regulations and the need for real-time transparency restrict the overall development of the pharmaceutical logistics market.
Globally, Europe leads the pharmaceutical logistics market. The growth of pharmaceutical logistics in Europe is largely fueled by the heightened demand for vaccines and medications, a surge spurred by the pandemic and substantial investments from major pharmaceutical companies. The increasing importance of expedited services in the pharmaceutical industry is a crucial factor in this development. Market players are striving to reduce distribution costs by streamlining their operations into a single distribution channel, thus promoting the expansion of the studied market.
The well-known companies in the pharmaceutical logistics market Cencora (AmerisourceBergen), Deutsche Post AG, DSV, FedEx Corporation, include Agility Logistics, Cardinal Health Inc, United Parcel Service (UPS), Kuehne + Nagel, Marken (Acquired by UPS), CEVA Logistics, DB Schenker, Medline Industries LP, SEKO Logistics, and AP Moller–Maersk.
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Question & Answer: Global Pharmaceutical Logistics Market
Question 1: What factors create novel opportunities for the pharmaceutical logistics market?
Answer: The rising opportunities in cell and gene therapy, digital transformation, and growing demand for clinical trial logistics create novel opportunities for the pharmaceutical logistics market.
Clinical trial logistics plays a crucial role in ensuring that the necessary clinical supplies for medical devices or drug studies are available in accordance with established protocols and regulatory standards. As the field of personalized medicine expands, the clinical supply chain is also becoming more tailored to individual needs. Partnering with comprehensive and international service providers like Yourway company for clinical supply chain logistics offers a strategic approach to accelerate market entry, reduce risks, and enhance overall supply chain efficiency.
Question 2: What factors restrict the overall development of the pharmaceutical logistics market?
Answer: Strict regulations and the need for real-time transparency restrict the overall development of the pharmaceutical logistics market.
Question 3: Which region leads the pharmaceutical logistics market?
Answer: Europe leads the pharmaceutical logistics market. The growth of pharmaceutical logistics in Europe is largely fueled by the heightened demand for vaccines and medications, a surge spurred by the pandemic and substantial investments from major pharmaceutical companies. The increasing importance of expedited services in the pharmaceutical industry is a crucial factor in this development. Market players are striving to reduce distribution costs by streamlining their operations into a single distribution channel, thus promoting the expansion of the studied market.
Question 4: Which are the well-known companies in the pharmaceutical logistics market?
Answer: The well-known companies in the pharmaceutical logistics market Cencora (AmerisourceBergen), Deutsche Post AG, DSV, FedEx Corporation, include Agility Logistics, Cardinal Health Inc, United Parcel Service (UPS), Kuehne + Nagel, Marken (Acquired by UPS), CEVA Logistics, DB Schenker, Medline Industries LP, SEKO Logistics, and AP Moller–Maersk.
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GLOBAL PHARMACEUTICAL SUPPLY CHAIN MANAGEMENT MARKET:
https://www.tritonmarketresearch.com/reports/pharmaceutical-supply-chain-management-market
As per Triton’s report, the global pharmaceutical supply chain management market is projected to progress with a CAGR of 8.70% during the forecast years 2023-2030.
The market’s growth is assessed based on rising adoption of cloud computing systems, implementation of GS1 standard, growing emphasis on reducing healthcare expenses, and rising demand for pharma products. However, the high cost of supply chain management software, SCM software encounters technical issues, and privacy concerns limit the market’s growth.
GLOBAL PHARMACEUTICAL CONTINUOUS MANUFACTURING MARKET:
https://www.tritonmarketresearch.com/reports/pharmaceutical-continuous-manufacturing-market
Triton’s research report states that the global pharmaceutical continuous manufacturing market is set to register a CAGR of 10.35% over the forecast period 2021-2028.
Factors such as the rise in initiatives and rising healthcare expenditure fuel the progress of the pharmaceutical continuous manufacturing market. However, lack of demand and growing customer expectations hamper the market’s growth.
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