Healthcare Logistics Market Size to Reach Revenues of USD 226.57 Billion by 2026 - Arizton
CHICAGO, Oct. 12, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global healthcare logistics market report.
The healthcare logistics market is expected to grow at a CAGR of over 7.8% during the period 2020−2026.
Key Highlights Offered in the Report:
- The growing demand for pharmaceuticals and medical devices, increasing implementation of blockchain, AI, IoT, and other technological advancements in the healthcare industry, boosting demand in the global healthcare logistics market.
- North America region held the highest revenue share of 38.28% in 2020. The growing number of healthcare manufacturers and increasing 3PL collaborations in the region is driving the growth of the market.
- The global healthcare logistics market is fragmented and competitive with key players such as Deutsch Post DHL, AmerisourceBergen, CEVA Logistics, FedEx Corporation, Kuehne + Nagel, DB Schenker, and UPS have the maximum share.
- Due to the emerging demand for COVID-19 vaccines, PPE kits, ventilators, masks, gloves etc., COVID-19 acted as a catalyst for the global healthcare logistics market.
- Pharmacies are widely using logistics services for the procurement of medicinal products from the healthcare manufacturers. Thus, the pharmacy segment accounted for the highest share of 40.53% in 2020.
- Improvement in the healthcare logistics service portfolio such as emergence of home healthcare logistics and adoption of cold chain technology is also providing growth opportunities in the market.
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, functionality, end-user, and geography
- Competitive Landscape – 7 key vendors and 19 other vendors
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Healthcare Logistics Market – Segmentation
- In 2020, the pharmaceuticals segment accounted for a revenue share of 59.71% in the global healthcare logistics market. Vaccines and medicines contribute to the sustainability of healthcare systems by generating higher savings by largely reducing costs in other areas of healthcare, such as hospital stays and long-term care costs.
- In 2020, the transportation segment accounted for a share of 72.89% in the global healthcare logistics market. Several transportation modes are designed to carry freight or passengers from one place to another. Also, the transportation industry is among the largest employers in the world and vitally important to the global economies.
- In 2020, the pharmacy segment accounted for a revenue share of 40.53% in the global healthcare logistics market. A pharmacy or a drugstore is a place where the medicines are dispensed or compounded. Pharmacists are responsible for the composition of the dosage forms of drugs, such as sterile solutions for injections, capsules, and tablets.
Healthcare Logistics Market by Product
- Pharmaceuticals
- Medical Devices
Healthcare Logistics Market by Functionality
- Transportation
- Warehousing
- Others
Healthcare Logistics Market by End User
- Pharmacy
- Healthcare Facilities
- Research & Diagnostic Laboratories
- Others
Healthcare Logistics Market – Dynamics
With numerous waves of COVID-19 affecting several countries worldwide, the impact of the pandemic on economies and communities has been profound. The effects of the ongoing pandemic are predicted to continue for the next four to five years. The healthcare sector is at the center of the battle against COVID-19, and with the deployment of several COVID-19 vaccines, cold-chain logistics have emerged as a differentiation strategy for vendors in this fight. Currently, several COVID-19 vaccines have undergone phase 3 clinical trials, while many others have already been deployed. Also, the healthcare supply chain industry is transforming itself to meet the global critical demands for the COVID-19 vaccine. The huge demand and the ultra-cold temperatures required to store vaccines developed by Pfizer Inc. and BioNTech SE will provide an exceptional logistical challenge. However, many healthcare logistics players, such as Deutsche Post DHL, UPS, TNT, and FedEx Corporation, are prepared to overcome these challenges. For instance, some potential vaccines will require to be stored at very low temperatures, which plays to the strengths of big logistics providers.
Key Drivers and Trends fueling Market Growth:
- Implementation of UDI
- Emergence of Blockchain Technology in Healthcare
- Advances in Supply Chain Technologies
- Collaborations Between 3PL & Healthcare Providers
Healthcare Logistics Market – Geography
In 2020, North America accounted for the largest share in the global healthcare logistics market, mainly due to the presence of most healthcare suppliers in the region. High acceptance of healthcare logistics services, the prevalence of chronic disease, and the expanding geriatric population are some of the growth drivers for the North American market. In 2020, 8.1% of worldwide drug and medicine shipments originated from North America. The rising demand for vaccines and COVID-19-related products is accelerating the demand for cold supply chain in North America, which is a significant growth driver for the regional healthcare logistics market.
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Healthcare Logistics Market by Geography
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- APAC
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
Major Vendors
- AmeriSourceBergen Corporation
- CEVA Logistics AG
- FedEx Corporation
- Kuehne + Nagel
- DB Schenker
- Deutsche Post DHL
- United Parcel Service
Other Prominent Vendors
- AWL India
- Alloga
- Bollore Logistics
- Cardinal Health
- C.H. Robinson
- Cold Chain Technologies (CCT)
- DSV Global Transport and Logistics
- Farmasoft
- Lufthansa Cargo
- Maersk
- Medline
- Nippon Express Co. Ltd.
- Owens & Minor
- Oximio
- PHOENIX group
- SEKO Logistics
- Sinotrans Limited
- XPO Logistics
- ZirconMed
Explore our healthcare & lifesciences profile to know more about the industry.
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About Arizton:
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We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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