Global Pharmaceutical Logistics Market Expands by USD 4.79 Billion in 2023

BERLIN - Oct. 5, 2024 - PRLog -- The global pharmaceutical logistics market saw impressive growth in 2023, expanding by USD 4.79 billion and recording a compound annual growth rate (CAGR) of 7.42% over the past five years. This surge is driven by pharmaceutical companies strengthening supply chains in response to global health crises. Technological advancements, including digitalization, have further enhanced supply chain visibility, improving tracking and monitoring of pharmaceutical shipments.

Market Trends: Non-Temperature-Controlled Logistics Lead

Non-temperature-controlled logistics continue to dominate the sector. However, advancements in cold chain technology, such as refrigerated containers and reusable packaging, have transformed the pharmaceutical cold chain market.

Regional Insights: Leading Players

The United States leads the pharmaceutical logistics market, driven by its major pharmaceutical companies. In contrast, China faces declining growth rates, while Brazil experienced robust growth in 2022. European firms like Novartis, Roche, AstraZeneca, and Sanofi are instrumental in shaping the global landscape. In 2022, global pharmaceutical revenues reached USD 1.48 trillion, reflecting increased investments in research and development.

Key Challenges: Losses in Temperature-Controlled Logistics

The pharmaceutical supply chain faces significant challenges, including temperature deviations and theft. Failures in temperature-controlled logistics alone result in an annual loss of USD 35 billion. Europe reported EUR 8.2 billion in annual theft losses. Temperature control remains critical, particularly for sensitive products like vaccines, where even slight deviations can impact efficacy.

Opportunities in Europe and Asia-Pacific

The European pharmaceutical logistics market is expected to grow significantly due to improved infrastructure and increased production. Ports like Rotterdam and Hamburg are central to efficient pharmaceutical goods movement across the continent. Meanwhile, the Asia-Pacific region is emerging as a hub for clinical trials, with China, India, and Australia leading the charge. Regulatory compliance, coupled with technological advancements, is driving growth in the region.

Rising Importance of the UAE

The UAE is establishing itself as a major player in pharmaceutical logistics, contributing 14% to its GDP in 2024. Its strategic location and favorable business policies attract global pharmaceutical companies.

Makreo Research's report, "Global Pharmaceutical Logistics Market Size and Forecast (2018-2029)," offers an in-depth analysis of the market, covering key players, logistics challenges, and regional dynamics across North America, Europe, Asia-Pacific, and beyond.

For more details:
Global Pharmaceutical Logistics Market Size and Forecast (2018-2029) (https://www.makreo.com/report/global-pharmaceutical-logis...)