Europe Pharmaceutical Logistics Market Surges with 8.64% CAGR: In-Depth Analysis and Future Outlook

BERLIN - July 2, 2024 - PRLog -- Europe's Pharma Logistics Market grew at 8.64% CAGR from 2019-2023, boosted by COVID-19 with a 10.7% revenue rise in 2020. Efficient supply chain management is crucial amid complex products, ensuring safe medical supply delivery. Our report covers market size, trends, challenges, and opportunities.

Economic Resilience and Market Expansion
In 2023, the European economy rebounded with a GDP growth rate of 1.4%, following declines in previous years. The pandemic boosted the trade of both conventional and over-the-counter drugs across Europe, underscoring pharmaceuticals' critical role in economic recovery and public health strategy. Despite economic challenges, the Europe Pharmaceutical Logistics Market continues to expand, reflecting resilience amidst inflationary pressures.

Western Europe's Leadership in Cold Chain Logistics
Western Europe hosts a significant portion of global biopharmaceutical manufacturing facilities, underscoring its pivotal role in pharmaceutical logistics worldwide. The EU mandates that approximately 80% of pharmaceuticals must be transported under controlled temperatures, emphasizing the critical need for proper storage and transport of sensitive products. This has prompted substantial investments in the Europe Pharmaceutical Cold Storage Market, aimed at enhancing effectiveness, efficiency, and reliability across operations.

Germany's Pivotal Role
Germany ranks as the largest pharmaceutical logistics market in Europe and fourth globally, with over 510 pharmaceutical companies and 670 biotechnology firms. In 2023, the value of manufactured medicines and pharmaceutical equipment reached EUR 31.1 billion, bolstering the market significantly.

Rising Biopharma Sales
Europe is the world's second-largest biopharmaceutical market, driven by a growing population and the prevalence of chronic diseases. The development of complex biological-based medicines and specialized transportation needs has fueled the growth of the pharmaceutical logistics market. Cold chain logistics play a critical role in this expansion.

Recent Developments and Future Outlook

Key developments include Nippon Express's CEIV Pharma certification for its Amsterdam warehouse and A.P. Moller-Maersk's new cold store in Rotterdam. The Europe Pharmaceutical Logistics Market's future looks promising, driven by aging populations, rising healthcare spending, and technological advancements, with sustainability and e-commerce boosting steady growth.

Scope of Study
The scope encompasses the transportation, storage, and distribution of pharmaceutical products across the region. It includes services such as cold chain logistics, warehousing, inventory management, and transportation management. The market offers opportunities for specialized logistics providers to offer innovative solutions that comply with regulatory requirements and meet the needs of the pharmaceutical industry.

Find Out More:
Europe Pharmaceutical Logistics Market Size (2019-2029) - Regional Analysis by Diseases, Drugs, Temperature, Transport Modes, and Future Trends (https://www.makreo.com/report/europe-pharmaceutical-logis...)