The global healthcare logistics market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio.
The growing carbon emission in roadways and air transportation and the rising fuel costs are forcing pharmaceutical companies to choose seaborne shipments. Seaborne transportation helps to reduce transportation costs and mitigate other production expenses. For instance, AstraZeneca, a prominent multinational pharmaceutical company shifted around 65% of its product transportation to seaborne transportation in 2014.
As per Technavio, the emergence of drones in healthcare logistics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global healthcare logistics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global healthcare logistics market: Emergence of drones in healthcare logistics
The applications of drones are growing beyond military use to the logistics segment, particularly for delivery operations in remote or rural areas. Drones can deliver essential healthcare supplies such as medicines, pharmaceutical drugs, and small-sized and low weight medical devices to remote destinations. The use of drones will help logistics companies customize their supply chain model effectively based on real-time information received from the UAV. The growing use of drones for delivering healthcare supplies is expected to improve market opportunities for global healthcare logistics players.
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With the growing geriatric population, increasing healthcare awareness, and new product launches, the global sales of prescription drugs are growing rapidly. Drug manufacturers are introducing specific medicines for treating minor ailments which increases their sales. The growth in pharmaceutical sales will fuel the demand for healthcare logistics during the forecast period, says a senior analyst at Technavio.
Global healthcare logistics market: Segmentation analysis
This market research report segments the global healthcare logistics market by service (transportation and warehousing) and product (pharmaceutical products and medical devices) and geographic regions (APAC, Europe, MEA, North America, and South America).
The transportation segment held the largest healthcare logistics market share in 2018. The segment is expected to grow significantly during the forecast period owing to increased government expenditure on logistics infrastructure.
The APAC region led the market in 2018 with a market share of over 33%, followed by North America, Europe, MEA, and South America respectively. China and India are the major growth contributors to the market in this region. The dominant share of the APAC region can be attributed to the rising health awareness among people, and the growth of the pharmaceutical industry in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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