Global Pharmaceutical Logistics Market Size and Trends
Global pharmaceutical logistics market is estimated be valued at US$ 99.7 Bn in 2024 and is expected to reach US$ 183 Bn by 2031 growing at a compound annual growth rate (CAGR) of 9.1% during the forecast period of 2024–2031.
- Growing need for cold chain distribution of temperature sensitive pharmaceutical products
- Emergence of temperature-sensitive pharmaceuticals
Global Pharmaceutical Logistics Market Trends:
- Sustainability initiatives in logistics operations: Sustainability initiatives in logistics operations are increasingly influencing the global pharmaceutical logistics market. Pharmaceutical companies and logistics providers are placing greater emphasis on reducing their environmental footprint and operating in a more socially responsible manner. This focus on sustainability is being driven by pressures from regulators, investors, and customers. Companies are implementing various initiatives to enhance the sustainability of their logistics networks and operations. For example, many are transitioning their fleets to electric or hybrid vehicles to lower emissions from transportation. Pharmaceutical giant Pfizer Inc., a pharmaceutical company announced in 2021 that it aims to achieve net-zero logistics emissions by 2030, in part by electrifying 30% of its owned and contracted fleet. They are also partnering with logistics providers that are committed in utilizing renewable energy for warehousing and distribution facilities. Furthermore, logistics networks are being optimized through investment in digitization and automation technologies. This allows for more efficient routing and delivery of medicines while reducing waste
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