Healthcare Logistics Market worth USD 264.7 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Healthcare Logistics Market by Product (Pharmaceuticals and Medical Devices), by Functionality (Transportation, Warehousing, and Others), by End-Users (Pharmacies, Healthcare Facilities, Research & Diagnostic Laboratories, and Others), by Region – Global Share and Forecast to 2027". The global healthcare logistics market size is expected to grow from USD 144.2 billion in 2021 to USD 264.7 billion by 2030, at a CAGR of 7.8% during the forecast period. Most healthcare providers focus on their core business and outsource their secondary business to third-party logistics providers. Additionally, increased cost pressures create incentives to find innovative ways of serving current and new markets, geographies, and customers. Outsourcing enables these companies to access resources and capabilities not available internally. Also, outsourcing enables these companies to free up human resources and capital and focus on their core business processes, including R&D initiatives and manufacturing of drugs, vaccines, medical supplies, or medical devices. Major growth driver for the global healthcare logistics market is the growing global demand for pharmaceuticals and medical devices. The production of pharmaceuticals and medical devices is getting more complex as companies expand their product portfolios to align with the rapidly changing market and meet customer requirements.

Global Healthcare Logistics Market Segmentation

The healthcare logistics market has been segmented into product, functionality, end-users, and region.

• By Product (Pharmaceuticals and Medical Devices)
• By Functionality (Transportation, Warehousing, and Others)
• By End-Users (Pharmacies, Healthcare Facilities, Research & Diagnostic Laboratories, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Transportation, by functionality, is estimated to hold the largest market share during the forecast period

The global healthcare logistics market is segregated into transportation, warehousing, and others based on functionality. The transportation segment of the global healthcare logistics market had accounted for 72.89% of the market in 2021. Several modes of transportation are available to transport freight or passengers from one location to another. Moreover, the transportation industry is among the largest employers globally and vitally important to the global economies. The transportation sector consists of several industries, including air freight and logistics, marine, road and rail, airlines, and transportation infrastructure. Railroads, shipping, airlines, trucking, and logistics firms provide transportation infrastructure.

The performance of companies offering transportation services is highly sensitive to fluctuations in company earnings and the price of transportation services. The main factors affecting transportation company earnings include the demand for services, geopolitical events, fuel and labor costs, and government regulations. Also, many of these factors are interconnected. For instance, if the US government passes stringent regulations that make it more difficult for people to obtain their commercial drivers' licenses, there will be a marked decline in the supply of drivers. Therefore, the cost of hiring drivers will increase.

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North America accounts for the largest market share in the healthcare logistics market 2021

Based on the regions, the global healthcare logistics market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for a revenue share of 38.28% in the global healthcare logistics market. Healthcare logistics involves the movement of medical devices and pharmaceutical products from the manufacturing unit to their end user. As the geriatric population in the region continues to rise, the incidence of chronic diseases has also increased, which has created a demand for modern healthcare products and services and improved medical assistance to deal with the growing number of chronic disease patients more effectively. Consequently, this has propelled the need for safe and secure transportation of pharmaceutical products and medical equipment and devices in this region.

In July 2020, a law was imposed to support trade across North America. The US faces certain challenges as the demand for medical goods strips the supply at exceptional levels. However, there is a similar challenge in Mexico but with a relatively lesser strain than the US. One of the key supply-related challenges in Mexico is security, as there is no high growth pattern in the owner-operator capacity community. Currently, both Canada and intra-Canada cross-borders trucking are witnessing variations in supply and demand. Canadas’ five major cities are experiencing an imbalanced flow of medical goods.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the healthcare logistics market. It also consists of the profiles of leading companies such as FedEx Corporation, CEVA Logistics, AmerisourceBergen, Deutsch Post DHL, Kuehne + Nagel, DB Schenker, C.H. Robinson, XPO Logistics, Cardinal Health, Owens & Minor, Lufthansa Cargo, DSV, Farmasoft, Cold Chain Technologies, Medline, Oximio, Maersk, Alloga, Bollore Logistics, and PHEONIX Group

Browse complete report: https://www.marketstatsville.com/healthcare-logistics-market

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