NEW YORK, March 22, 2021 /PRNewswire/ -- The healthcare logistics market is expected to reach USD 67.73 billion during 2021-2025, as per the latest report from Technavio. The report also throws light on the impact of the COVID-19 pandemic, and the new opportunities and challenges that market players can expect. According to this research analysis, the market is expected to accelerate at a CAGR of over 11% during the forecast period.
The healthcare logistics market growth is attributed to the growing global pharmaceutical sales. However, the increased complexities due to time-bound deliveries and customization of the supply chain might hinder the market growth. On the other hand, the emergence of drones in healthcare logistics presents new opportunities in the coming years.
The growing geriatric population and new product launches are the major factors driving the market growth. There is a rise in the incidence of chronic diseases and the need for improved medical assistance. This has led to the development of new medical devices and need for efficient transportation of devices and equipment. In addition, factors such as increasing healthcare awareness and growing medicinal knowledge among the consumers due to the Internet are increasing the sales of over-the-counter drugs. By understating the consumer requirements, over-the-counter drug manufacturers are introducing specific medicine for treating minor ailments, which, in turn, is increasing their sales. As a result, the growth in pharmaceutical sales is expected to increase the demand for healthcare logistics.
"The increasing government initiatives and the rising seaborne pharmaceutical transportation will further boost market growth during the forecast period," says a senior analyst at Technavio.
By product, the pharmaceutical product segment accounted for the largest share of the overall revenue in 2020.
Based on service, the transportation segment held the largest share in 2020
APAC dominated the market in 2020 and is expected to maintain its lead over the forecast period.
36% of the market's growth will originate from APAC during the forecast period.
China and Japan are the key markets for healthcare logistics in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
Major Three Healthcare Logistics Companies:
Air Canada offers a wide range of healthcare logistics services which includes air freight services, ocean freight services, ground transportation, contract logistics, and supply chain solutions for pharmaceutical products and medical devices.
AmerisourceBergen Corp. operates business through Pharmaceutical Distribution Services and Other segments. The company offers a wide range of healthcare logistics services which includes air freight services, ocean freight services, ground transportation, contract logistics, and supply chain solutions for pharmaceutical products and medical devices.
CEVA Logistics AG
CEVA Logistics AG operates business through Freight Management and Contract Logistics. The company offers a wide range of healthcare logistics services which includes air freight services, ocean freight services, ground transportation, contract logistics, and supply chain solutions for pharmaceutical products and medical devices.
Read the 120-page report with TOC on "Healthcare Logistics market analysis report by product (pharmaceutical products and medical devices), service (transportation and warehousing), and geography (APAC, North America, Europe, MEA, and South America)., and the segment forecasts during 2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats.
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