The global pharmaceutical logistics market involves a very complex operational process, which is essential as pharmaceuticals are an integral part of the health care industry. A pharmaceutical logistics chain is not like other regular logistics chains in terms of type of products, complexity, and cost. Availability and accessibility of pharmaceuticals are of importance for both companies as well as governments. There is no other product apart from pharmaceuticals that has as high a risk of contamination, sterilization, or instability of ingredients. The stability of packages in transportation from factory to consumer is an important factor in pharmaceutical logistics. This process needs to be maintained and monitored well.
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Key Players In Pharmaceutical Logistics Market :
The Global Pharmaceutical Logistics market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include DB Schenker (DB Group), FedEx, Deutsche Post DHL, United Parcel Service of America Inc. and Kerry Logistics among others. Deutsche Post DHL is one of the top five players in the Pharmaceutical Logistics market.
Improper distribution of drugs affects customer satisfaction, company reputation, and company profit. It can also disturb and produce a negative effect on public health, thereby hampering the medication processes of patients. There is an increase in inspections and scrutiny from the FDA, the DEA, and other global regulatory bodies. Pharmaceutical logistics chains continually face the challenges of streamlining operations in maintaining the highest levels of regulatory observance.
- Increasing sales and consumption of pharmaceutical products which has been caused by an increased prevalence of chronic diseases; this factor is expected to drive the growth of the market
- Need for decreasing the overall cost of logistics service by adopting a unified distribution service; this factor is expected to enhance the growth of the market
- Enhanced verification and safety of services as it prevent counterfeit drugs being distributed through the supply chain; this factor is expected to flourish the growth of the market
The short-term impact of COVID-19 on the market is the crucial factor for pharmaceutical logistics’ fast-paced growth across the globe. Amid the pandemic, governments around the world are emphasizing on healthcare facilities and ample medicinal supply for the patients. As such, the trade of conventional medicines is increasing from country-to-country. Additionally, the U.S. Food and Drug Administration (FDA) has approved Emergency Use Authorization for hydroxychloroquine, which is to be used by licensed health care providers to treat teens and adults hospitalized with COVID-19, who weigh more than 50 kg. As such, the trade of hydroxychloroquine is increasing in countries, including the U.S. and India.
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Pharmaceutical Logistics Market, By Type of Logistics
The growth of the market is also attributed to the increasing demand for Over The Counter (OTC) medicines such as Vitamins, Minerals, and Supplements (VMS), common cough and cold drugs, gastrointestinal drugs, and dermatology products. The rising importance of fast track assistance in the healthcare sector is also driving the market for pharmaceutical logistics. Moreover, decreasing the distribution cost by creating a single source distribution channel is further boosting the demand for pharmaceutical logistics. A large number of companies are entering into mergers and acquisitions to expand their geographical presence and proprietary knowledge. They are also focusing on reducing the overall packaging costs of their products. The biotechnology and pharmaceutical supply chains are particularly prone to the risks associated with product adulteration during transport as well as non-compliance with federal regulations, standards, and guidelines. As a result, the players are actively investing in state-of-the-art technologies such as telematics and remote monitoring to provide safety and convenience during transportation operations, which is, in turn, propelling the market growth.
Pharmaceutical Logistics Market, By Procedure
• Retrieval systems
• Handling systems
Asia Pacific is projected to be the fastest-growing region owing to rapid economic growth in emerging countries, such as China and India. High demand for medicines due to the growing geriatric population will also augment the market for pharmaceutical logistics in Asia Pacific. Moreover, the pharmaceutical industry is undergoing a geographic shift in production and sales locations. The market players are finding lucrative opportunities in the developing economies in Asia and South America, which is in turn expected to boost the market growth in these regions.
The global pharmaceutical logistics market can be segmented based on product, transport, application, mode of transportation, and region. Based on product, the global pharmaceutical logistics market can be classified into generic drugs and branded drugs. In terms of transport, the global pharmaceutical logistics market can be segmented into cold chain transport and non-cold chain transport. Based on application, the global pharmaceutical logistics market can be classified into bio pharma, chemical pharma, and specialized pharma. In terms of mode of transportation, the global pharmaceutical logistics market can be categorized into air shipping, sea shipping, road shipping, and rail shipping. Based on region, the global pharmaceutical logistics market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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