Healthcare Logistics Market Growth, Opportunities, and Market Forecast to 2030

Market Overview

The Healthcare Logistics Market Size was valued at USD 77.3 billion in 2022 and is projected to grow from USD 84.87 Billion in 2023 to USD 179.30 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.80% during the forecast period (2023 - 2032). 

Competitive Research

Air Canada, AmerisourceBergen Corporation, CEVA Logistics AG, Cold Chain Technologies LLC, Deutsche Post DHL Group, FedEx Corporation, Kuehne + Nagel International AG, Schenker AG, United Parcel Service Inc., Owens & Minor, Lufthansa Cargo, Alloga, PHEONIX Group, C.H. Robinson, DSV, and Farmasoft are major players in the healthcare logistics market.

Market Dynamics

Globalization and rising pharmaceutical revenue growth in international trade are the main market factors boosting industry expansion. Electronic commerce, or e-commerce, is the buying and selling of goods and services using internet channels. The popularity of e-commerce sites like Amazon, eBay, and Flipkart in recent years has significantly increased the amount of goods being bought and sold online. This has made it possible for customers to freely purchase and use healthcare products. During the projected period, the market CAGR is anticipated to increase due to the fast expanding e-commerce industry.

Various supply chain activities, such as freight forwarding, packaging, inventory forecasting, order fulfillment, selecting and packing, warehousing, and transportation are included in outsourcing operational logistics to a third-party logistics provider, which includes everything from warehousing to delivery. Because it enables business owners to focus more time on product production, marketing, and sales, third-party logistics has many benefits. Therefore, the significant advantages that third-party logistics offers are what are primarily fueling the growth of the healthcare logistics market.

Cross-border trade has caused the economies, societies, and cultures of the world to become interdependent. Today, importing and exporting goods to and from other countries accounts for a large portion of the economy of the country. Due to their prominence in international trade and their huge trade volume, Asia-Pacific and North America are the two regions where logistics service providers are most in demand to facilitate and speed up trade flow. As a result, it aids in the growth of the healthcare logistics industry on a global scale. As a result, these elements are fueling market revenue for healthcare logistics.

Market Segmentation

The Market segments of Healthcare Logistics, based on Service, includes Transportation and Warehousing. 

The Healthcare Logistics Market segmentation, based on Product, includes Pharmaceutical Products, Medical Devices, and Medical Equipment.

The Market segmentation of Healthcare Logistics, based on type, includes Branded Drugs and Generic Drugs.

Based on End Users, the Healthcare Logistics Market segmentation includes Pharmacies, Healthcare Facilities, and Research and Diagnostic Laboratories. 

Regional Analysis

In 2022, the North American Healthcare Logistics Market will rule. The region's supremacy in pharmaceutical and biologic medicines as well as a surge in biopharmaceutical exports and imports are principally responsible for this high revenue share. As a result of the high expense of healthcare in the area, new technologies are embraced rather quickly. Consequently, in order to optimize warehousing and transportation and support regional growth, healthcare organizations across North America are relying more and more on 3PL service providers.

The second-largest market share belongs to the Healthcare Logistics market in Europe. The development of technology is a crucial trend that is becoming more and more popular in the healthcare logistics sector. The key market participants in healthcare logistics are focusing on offering technologically cutting-edge logistics solutions in an effort to strengthen their market positions. Additionally, the UK market for healthcare logistics was expanding at the quickest rate in the European region, while the German market for healthcare logistics held the biggest market share.

From 2023 to 2032, it is predicted that the Asia Pacific Healthcare Logistics Market would expand at the quickest CAGR. The market in this area will grow as a result of the expanding demand for cold storage facilities, the rising adoption rate of facilities using modern technologies, and the rise in merger and acquisition activity among industry players. Additionally, the Asia Pacific region's Healthcare Logistics market in China had the biggest market share, while the market in India had the quickest rate of expansion.

About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.