Healthcare Logistics Market Size to grow by USD 121.4 billion between 2024-2028
According to a research report “ Healthcare Logistics Market” by Product (Pharmaceutical products, Medical devices) Service (Transportation, Warehousing) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 121.4 billion, at a CAGR of over 13.87% during the forecast period. The global healthcare logistics market, encompassing the distribution of prescription drugs and over-the-counter pharmaceuticals, is projected to experience significant expansion throughout the forecast period. Key drivers fueling this growth include the increasing geriatric population and the continuous launch of innovative pharmaceutical products by manufacturers. For instance, the World Bank reports that the global population aged 65 and above grew from 9% in 2020 to 10% in 2022, leading to a surge in demand for prescription medications. The ongoing demographic shift towards an aging population and the rising demand for enhanced healthcare products and services are the primary factors propelling the market's growth trajectory.
Browse market data tables, figures, and in-depth TOC on “Healthcare Logistics Market” by Product (Pharmaceutical products, Medical devices) Service (Transportation, Warehousing) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Product, the Pharmaceutical products segment is projected to dominate the market size in 2024
The healthcare logistics market encompasses the transportation of pharmaceutical products and medical devices via rail, air, water, and roadways. This sector is poised for significant expansion during the forecast period due to several driving factors. Notably, the expiration of patents on branded drugs is anticipated to increase, leading to a surge in generic drugs and subsequent demand for logistics services, particularly transportation. For instance, the loss of patent protection for Copaxone 40 mg by Teva Pharmaceutical Industries Ltd is a notable example. Government investments in logistics infrastructure are also contributing to market growth.
By Service, Transportation segment is expected to hold the largest market size for the year 2024
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APAC is forecasted to hold the largest market size by region in 2024
The healthcare logistics market encompasses the transportation, storage, and distribution of healthcare products and supplies. This essential sector ensures the timely and secure delivery of pharmaceuticals, medical devices, and other critical healthcare assets. Leveraging advanced technologies such as real-time tracking and temperature control solutions, healthcare logistics providers optimize supply chain efficiency, minimize risks, and enhance patient care.
The Healthcare Logistics Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The healthcare logistics market encompasses the transportation and supply chain management of healthcare products and raw materials for dentistry, disease treatment, injury care, infection control, correction devices, and diagnostic equipment. This market is critical in ensuring timely and efficient delivery of essential healthcare products and services, especially in remote areas and during emergencies. Healthcare logistics involves various modes of transportation, including airplanes, boats, trains, and trucks. Healthcare transportation plays a crucial role in the delivery of critical medical supplies and equipment, ensuring the continuity of healthcare services. Healthcare product companies rely on an effective supply chain, from inventory forecasting to order fulfillment, to meet the demand for their products. Freight forwarding and third-party logistics providers are essential partners in this process, ensuring the timely and cost-effective transportation of goods. New technologies, such as digital transformation and e-commerce, are penetrating the healthcare logistics market, streamlining processes and improving efficiency. Warehousing and inventory management systems are becoming more sophisticated, enabling real-time tracking and monitoring of inventory levels. Overall, the healthcare logistics market is a critical component of the healthcare industry, ensuring the delivery of essential products and services to patients and healthcare providers.
Market Research Overview
The healthcare logistics market encompasses the transportation, warehousing, and order fulfillment of various healthcare products, including medical devices, medications, surgical supplies, diagnostic and research laboratory samples, and cold-chain products. Supply chain partners play a crucial role in ensuring safe delivery of these critical medical items to physicians, clinicians, hospitals, and other healthcare facilities. Modern healthcare products, such as human cell-derived therapies, require specialized logistics solutions like cold chain logistics to maintain their efficacy. In rural areas, medical assistance may rely on innovative transportation methods like drones for time-bound deliveries. Chronic diseases, injuries, infections, and other health concerns necessitate the transportation of a wide range of healthcare products, from medications and medical equipment to blood, platelets, and critical medical items. Healthcare product companies and raw material suppliers depend on an efficient and reliable supply chain for the production and distribution of their offerings. Logistics solutions for healthcare products extend to various sectors like physical therapy, occupational therapy, psychology, audiology, nursing, pharmacy, midwifery, optometry, medicine, and dentistry. New technology penetration and digital transformation in the healthcare industry have led to advancements in transportation methods, such as e-commerce and third-party logistics providers, freight forwarding, and inventory forecasting. Transportation modes for healthcare logistics include cars, temperature-controlled trucks, airplanes, boats, and trains. Regardless of the mode, ensuring the safety and accessibility of healthcare products is a top priority for all stakeholders involved.
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