Pharmaceutical Logistics Market Worth to cross USD 116133.43 million By 2027
Posted On June 18, 2021
The Global Pharmaceutical Logistics Market value is expected to grow by an impressive 7.5% of CAGR during the forecast period of 2021 to 2027. The market can grow to USD 116133.43 million by 2027 as per the report by Value Market Research. The increasing demand for over-the-counter drugs like vitamins, health supplements, common cold and fever drugs, dermatological drugs is the primitive market driver for the growth of the pharmaceutical logistics market. The creation of a single source distribution channel has decreased the distribution cost and is assumed to drive the market growth of pharmaceutical logistics. The sudden emergence of severe diseases like the coronavirus has increased the demand for massive distribution of drugs all over the world and is a prominent factor for exhilarating the growth of the pharmaceutical logistics market. High investments and advancement in the technology sector are also expected to boost the market growth of pharmaceutical logistics. The growing adoption of telematics in cold chain pharmaceutical logistics and strict government regulations for maintaining the correct temperature for high-temperature sensitive pharmaceuticals will further boost the market growth of pharmaceutical logistics.
The thorough organization and implementation of complex operations like commercial activity of transporting goods to customers are known as logistics and the activity of transportation of pharmaceuticals by air or any other transportation method is known as pharmaceutical logistics. Most of the pharmaceutical industry relies on air transports because of its great speed, reliability, and time sensitiveness. However, lack of expertise due to limited training, complex processes, and specialized equipment are some of the issues which are being faced by pharmaceutical logistics.
The detailed research study "Global Pharmaceutical Logistics Market Report By Type (Cold Chain Logistics, Non-Cold Chain Logistics), By Component (Storage (Warehouse, Refrigerated Container), Transportation (Sea Freight Logistics, Air Freight Logistics, Overland Logistics), Monitoring Components (Hardware (Sensors, RFID Devices, Telematics, Networking Devices), Software) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" assists in understanding the market dynamics with qualitative as well as quantitative data.
On the basis of type the market is segmented into Cold Chain Logistics, Non-Cold Chain Logistics. By component the pharmaceutical logistics market is categorised as Storage (Warehouse, Refrigerated Container), Transportation (Sea Freight Logistics, Air Freight Logistics, Overland Logistics), Monitoring Components [Hardware (Sensors, RFID Devices, Telematics, Networking Devices), Software].The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the pharmaceutical logistics market.
The Report Segments Global Pharmaceutical Logistics Market -
- Cold Chain Logistics
- Non-Cold Chain Logistics
- Refrigerated Container
- Sea Freight Logistics
- Air freight logistics
- Overland Logistics
- Monitoring Components
- RFID devices
- Networking devices
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
Agility, CEVA Logistics, Marken, VersaCold Logistics Services, Air Canada, DB Schenker, Deutsche Post AG, LifeConEx, Marken, United Parcel Service of America, Inc., and VersaCold Logistics Services.
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