The rising demand for the home healthcare products is the major driver for the pharmaceutical logistics market. The market is experiencing a continuous growth in order to meet the increasing demand of the pharmaceutical industry. Maintaining integrity, improving the cost of supply chain and reducing the distribution cost by forming a single source distribution channel adds up to the drivers of pharmaceutical logistics market. Increasing importance of fast track assistance and simple communication has also led to increase the demand for pharmaceutical logistics. The market is also growing to reduce the packaging cost and certain mergers and acquisition between the private sector companies along with economic reforms has led to the growth in the market.
The pharmaceutical logistics market is segmented on the basis of types of logistics and procedures. Segmentation of the market based on different types of logistics includes seafreight, airfreight, overland and integrated logistics. The procedures segment of the pharmaceutical logistics market includes picking, storage, retrieval systems and handling systems. Moreover, there are few manufacturers who have on their site the presence of climate controlled storage which are more cost effective. They mainly use a liquid re-cycling plant or ammonia based cooling technology. It has been estimated by industry observer that by 2016, 7 out of every 10 of the leading pharmaceutical products will be in need of temperature-controlled transportation. In its recent reports, the World Health Organization mentioned that about 25 percent of products of vaccine arrive to destination in a degraded form leading to a huge financial loss and increase in number of death cases. There is also a scope for generic drugs in the coming year which is anticipated to further drive the pharmaceutical logistics market.
The regional segments pharmaceutical logistics market is North America, Europe, Asia Pacific, Latin America and MEA. Recently industrial professionals have launched pharma logistics network to meet the growing need for global association of specialist forwarders, where resources, capability, and infrastructure are collaborated to meet the client demand particularly emphasizing on bio pharma cold chain requirements. According to the WHO, the global market for pharmaceutical is estimated to be approximately USD 300 billion per year and is projected to grow to USD 400 billion in the coming three years. Asia Pacific region is expected to grow at a lucrative rate owing to high economic growth in the emerging economies such as India and China, resulting in the formation of new health markets during the forecast period. Moreover, there is growth of around 13 to14 percent in the Indian pharmaceutical industry. In order to maintain the growth and reach to a higher level, the Indian drug manufacturers are opting for high standards of goods manufacturing practices (GMP).
Major players of the pharmaceutical logistics market are FedEx, Deutsche Post DHL, DB Schenker, United Parcel Service of America Inc, Air Canada Cargo, Biotec Services International, CEVA, Continental Air Cargo, Kerry Logistics, LifeConEx, Marken, Nordic Cold Storage, Sofrigam, VersaCold, World Courier Management, UTi Pharma, TNT Express, Agility and GENCO.
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