Pharmaceutical Logistics Market Size Worth $170.17 Billion By 2030

 Pharmaceutical Logistics Industry Overview

The global pharmaceutical logistics market size is estimated to reach USD 170.17 billion by 2030, registering a CAGR of 9.2% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market growth is primarily driven by the rising demand for a variety of drugs as a result of increasing cases of chronic and lifestyle-related diseases. The market is expected to witness a high growth rate in cold-chain and non-cold chain pharmaceutical logistics owing to the impact of COVID-19 across the globe. During this pandemic situation, the government and officials across countries are primarily focusing on preventive measures and the treatment of patients. The import and export of various medicines to treat coronavirus are increasing across all countries, including U.S. and China.

 

Pharmaceutical Logistics Market Segmentation

Grand View Research has segmented the global pharmaceutical logistics market based on type, component, and region:

 

Based on the Type Insights, the market is segmented into Cold Chain Logistics and Non-cold Chain Logistics

  • In terms of value, cold chain logistics segment is anticipated to hold a considerate market share by 2030 and is expected to grow at significant growth rate from 2023 to 2030. The growth is attributable to the rising demand for temperature-controlled products, such as the ongoing distribution of COVID-19 vaccines that require accurate temperature control logistics services to maintain the products’ efficacy.
  • Furthermore, the stringent government regulations regarding maintaining accurate temperature for highly temperature-sensitive pharmaceutical products are expected to boost the segment growth during the forecast period. The growing adoption of telematics in cold chain pharmaceutical logistics is helping the companies to enhance the efficiency, connectivity, and safety of transport cargoes.
  • Most biological and medical products require a temperature-controlled environment during the stage of manufacturing and distribution, which helps in maintaining the effectiveness and quality of the medicines. Thus, pharma companies are using temperature-controlled transportation and cold storage systems. The non-cold chain segment is expected to have a considerable share in the next seven years, owing to the increasing demand for non-cold chain pharma medicines and other products.

 

Based on the Component Insights, the market is segmented into Storage, Transportation and Monitoring Components

  • The storage segment attained the largest market share of more than 63.9% in 2022. The rapidly rising demand for generic and branded pharma products' has surged the significant need for storage facilities to preserve and procure these products’ efficacy after production and their further distribution through multiple channels to the distributors and retailers.
  • Further, the ongoing pandemic of COVID-19 has generated the demand for temperature-sensitive storage facilities to store the vaccines at their requisite temperature during logistics. As a result, this is expected to bolster the segment growth over the coming years. Factors such as changing lifestyles of consumers and the dietary pattern are driving the demand for temperature-sensitive protein andnutritional supplements, which are expected to boost the demand for the storage segment during the forecast period.
  • The monitoring components segment is expected to witness the highest CAGR from 2023 to 2030, owing to the increasing need to ensure the efficiency, integrity, and safety of the cold chain products. The monitoring components segment is divided into hardware and software components. 


Pharmaceutical Logistics Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

To maintain their position in the market, the pharma companies continuously undertake strategic initiatives, such as mergers and acquisitions. For instance, in October 2018, FedEx acquired Manton Air-Sea Pty Ltd., a logistics service provider company. The acquisition helped FedEx to fortify its geographical footprints across the Asia Pacific region

Some of the prominent players in the global pharmaceutical logistics market include:

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

.

Order a free sample PDF of the Pharmaceutical Logistics Market Intelligence Study, published by Grand View Research.

 

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