The global pharmaceutical logistics market to grow at a CAGR of 5.02% during the period 2017-2021.
The report, Global Pharmaceutical Logistics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the consolidation in global pharmaceutical logistics market. The market is highly fragmented with a large number of players. The fragmentation cause difficulties for big players to enter into some countries across the world. To break the entry barrier, the big players are accepting consolidation as a tool to enter into the market. More than an entry, consolidation helps the players to adopt modern technologies from the regional or small players and make them expand their market presence. Consolidation also supports the small vendors to attain profitability in the competitive market.
According to the report, one of the major drivers for this market is growing pharmaceutical sales. It was accounted that the global pharmaceutical market witnessed a remarkable growth rate of around 9.5% between 2005 and 2015. This growth is expected to continue for next few years. In 2016, the US alone contributed around 45% to the growth of the global pharmaceutical market. Followed by the US, Japan and China are the other major growth contributors to the market. The increasing healthcare reforms in developed and developing countries are also triggering the growth of the global pharmaceutical market.