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According to The Business Research Company’s research report on the healthcare distribution market, the rise of the medical device industry is expected to propel the growth of the healthcare distribution market going forward. The medical device industry is comprised of companies that develop, manufacture, and distribute the technologies, devices, diagnostic tests, and health information systems that are transforming health care through earlier disease detection and less invasive procedures. The medical devices manufactured by the medical device industry are required to be distributed to healthcare facilities, thereby promoting the healthcare distribution market. For instance, in February 2022, according to the India Brand Equity Foundation (IBEF), an India-based government brand equity foundation, the medical device market in India is expected to reach $ 50 billion in 2025, an increase of a 37% CAGR from $10.36 billion in 2020. Therefore, the rise of the medical device industry is driving the growth of the healthcare distribution market.
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The global healthcare distribution market size is expected to grow from $0.91 trillion in 2021 to $1.00 trillion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The healthcare distribution market share is expected to grow to $1.33 trillion in 2026 at a CAGR of 7.5%.
Technological advancement has emerged as the new trend gaining popularity in the healthcare distribution market. Major companies operating in the healthcare distribution sector are focused on technological advancements to reinforce their position and meet consumer demand. For instance, in May 2020, Zipline, a US-based start-up providing unmanned aerial vehicles (UAV), launched services for the delivery of personal protective gear and medical equipment using drones in the US. The company is also conducting drone delivery of medicines in Rwanda and intends to launch the service in other African countries. The development of this advanced technology is another step forward in the healthcare distribution market.
Major players in the healthcare distribution market are McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health Inc., Owens & Minor Inc., Morris and Dickson Co. LLC, KeySource Medical Inc., Rochester Drug Cooperative Inc., Henry Schein Inc., Smith Drug Company, FFF Enterprises Inc., Patterson Companies Inc., Mutual Drug, Shanghai Pharmaceutical Group Co. Ltd., Medline Industries LP, PHOENIX Group, CuraScript SD, Dakota Drug Inc., TTK Healthcare, Systems Private Limited, and Alliance Healthcare UK.
The global healthcare distribution market analysis is segmented by type into pharmaceutical product distribution services, biopharmaceutical product distribution services, medical device distribution services; by end user into retail pharmacies, hospital pharmacies, other end-users.
North America was the largest region in the healthcare distribution market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Healthcare Distribution Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide healthcare distribution market forecast size and growth, healthcare distribution market segments and geographies, healthcare distribution market trends, healthcare distribution market drivers and restraints, healthcare distribution market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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