Ottawa, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Ottawa, Aug 18, 2021 (GLOBE NEWSWIRE) – The global healthcare distribution market size was valued at US$ 810 billion in 2020, as per new study report. Distribution in a vital part of the healthcare industry supply chain. It embodies all wholesalers and distributors of health care products. This can comprise of companies anywhere from wholesalers of equipment to the pharmacies. The rise in production of medical equipment and drugs has resulted in the growth of distribution industry. With a strong distribution business, equipment and drug companies can effectively supply their commodities to multiple hospitals and other health care organizations.
Healthcare distributors procure pharmaceutical products from producers and distribute them to an assortment of customers, comprising of long-term care facilities, hospitals, and retail and other pharmacies among others. Some of the wholesalers sell to an extensive range of potential customers while others focus on sales of specific products (e.g., biologics) or sales to certain types of clients (e.g., pediatric clinics).
Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1259
Growth Factors
Factors such as rising incidence of chronic diseases and rapid progress of medical devices industry are driving the growth of healthcare distribution market. The frequency of chronic diseases has risen quickly in past few years due to increasing geriatric population globally. As per the WHO data, the prevalence of chronic disease will surge to 57% by 2021. This growth is expected to be the most substantial in the developing nations. A suitable healthcare distribution structure is therefore essential around the world, and has become a requirement. A synchronized and robust healthcare response is essential in every part of the world. Chronic diseases are some of the most rampant and expensive health conditions in the United States. Approximately half of all American people suffer from a minimum of one chronic ailment, and the count is growing. Internationally, almost one in three of all grownups suffer from multiple chronic conditions (MCCs) which are among the largest reason of the demise in the world.
The medical device business is poised for firm growth, with worldwide annual sales prediction to rise by over 5% a year and reach nearly US$800 billion by 2030. These estimates reflect growing demand for innovative new devices (like wearables) and services (like health data). This is majorly due to increasing prevalence of lifestyle diseases and high economic growth in emerging markets – particularly China and India.
Report Highlights
- Among the product type segment, pharmaceuticals are expected to dominate the overall market. Formation of new industrial facilitates by global pharmaceutical companies in new geographies, growing expenditure on pharmaceutical research and development activities, rising production of pharmaceutical preparations, and outsourcing of pharmaceutical manufacturing to the Asian nations is supporting the sector growth. Biopharmaceuticals are expected to advance at a significant CAGR in the estimate timeframe majorly due to increasing applications.
- The retail pharmacies accounted for the largest revenue in the end user segment with more than 52.5% share in 2020. Implementation of programs to guarantee accessible health care for people in the US and other developed countries which subsequently increase the quantity of prescription is the major factor responsible for high market share of retail pharmacies.
- McKesson Corporation accounted for the highest share of over 16% of the global healthcare distribution market.
Get Customization on this Research Report@ https://www.precedenceresearch.com/customization/1259
Regional Analysis
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 38.5%. U.S. accounted for the highest share in North America majorly due to the presence of major companies and early launch of latest products. Pharmaceutical distributors form the core of the healthcare ecosystem in North America. These distributors take care of around 92% of medical sales and add capability and order to a supply chain which links two enormously fragmented markets.
Europe was the second prominent market majorly due to favorable reimbursement scenario and presence of latest healthcare infrastructure. The presence of skilled researchers in the European region is also expected to boost the demand for healthcare distribution market in the near future. Asia Pacific is expected to grow at the highest CAGR of around 9% in the forecast period due to high investment by major market players. Latin America and the Middle East and African region will exhibit perceptible growth.
Key Market Players and Strategies
The major companies operating in the worldwide healthcare distribution are AmerisourceBergen Corporation, McKesson Corporation, Medline Industries, Cardinal Health, Inc., PHOENIX Group, Shanghai Pharmaceutical Group Co., Ltd., Henry Schein Inc., Owens & Minor, Inc., Medline Industries, and Rochester Drug Cooperative, Inc. among others.
Distributors play a crucial role in sustaining the integrity of the current closed-loop supply chain by merging manufacturer orders, distributing products to pharmacies, and dispensing returns. Some of the significant tactics undertaken by leading market participants to withstand the aggressive market competitiveness comprise of acquisitions, mergers, and collaborations.
Market Segmentation:
By Product Type
- Biopharmaceutical
- Pharmaceutical
- Medical Device
By End User
- Hospital Pharmacies
- Retail Pharmacies
- Other End Users
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1259
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
