Portland, OR, Oct. 31, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global pharmaceutical logistics market was pegged at $66 billion in 2021, and is expected to reach $106.8 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chains, key investment pockets, competitive scenarios, and regional landscapes. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Pharmaceutical Logistics Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $66 billion |
| Market Size in 2031 | $106.8 billion |
| CAGR | 5.1% |
| No. of Pages in Report | 389 |
| Segments Covered | Operation, Business Type, Application, Type, and Region. |
| Drivers | Growth in pharmaceutical sector |
| Rise in demand for reverse logistics | |
| Opportunities | High demand for temperature-sensitive pharmaceutical drugs |
| Increase in use of RFID technologies for pharmaceutical logistics | |
| Restraints | Dearth of standardization in pharmaceutical logistics and storage |
| Poor infrastructure and higher logistics costs |
Covid-19 Scenario:
- The Covid-19 pandemic resulted in flight cancellations, quarantines, and travel bans. The prolonged lockdown disrupted the supply chain and hampered logistics activities across the globe.
- However, unlike major industries that were struggling due to the pandemic, industries such as pharmaceuticals, e-commerce, and daily essential goods industries witnessed growth. The growth of e-commerce and online services, supplemented the B2B logistics industry.
- During the pandemic, there were a lot of import & export of drugs and equipment across the globe, which fueled the market growth.
The report segments the global pharmaceutical logistics market on the basis of operation, business type, application, type, and region.
Based on business type, the transportation segment held the lion’s share in 2021, accounting for nearly two-thirds of the market. In addition, the segment is projected to manifest the highest CAGR of 5.3% from 2022 to 2031.
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On the basis of application, the bio pharma segment is expected to register the highest CAGR of 5.8% during the forecast period. However, the chemical pharma segment dominated the market in 2021, contributing to around two-fifths of the market.
Based on type, the non-cold chain segment held the largest share in 2021, accounting for more than two-thirds of the market. However, the cold chain segment is projected to showcase the highest CAGR of 5.8% during the forecast period.
On the basis of operation, the storage and services segment held the largest share in 2021, accounting for nearly two-fifths of the market. However, the seaways segment is estimated to manifest the highest CAGR of 6.1% from 2022 to 2031.
The global pharmaceutical logistics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2021, accounting for around one-third of the market. In addition, the region is anticipated to portray the highest CAGR of 6.6% during the forecast period.
The market includes an in-depth analysis of the prime market players such as CEVA Logistics, Agility, CWT Ltd, CJ Century Logistics, DHL Supply Chain, DB Schenker, Keppel Logistics, Gemadept, Kuehne + Nagel, Kerry Logistics, Tiong Nam Logistics, Singapore Post, WHA Corp., YCH Group and Yusen Logistics.
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The report analyzes these key players in the global pharmaceutical logistics market. These companies have adopted several strategies including expansion, new product launches, and partnerships to increase their market penetration and maintain their foothold in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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