GLOBAL PHARMACEUTICAL LOGISTICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

Global Pharmaceutical Logistics Market Regional Insights

• North America is expected to be the largest market for pharmaceutical logistics during the forecast period, accounting for over 34.9% of the market share in 2023. The growth of the market in North America is led by the U.S., dominates the global pharmaceutical logistics market. The large size and high per capita healthcare spending of the U.S. market has made it crucial for logistics operations to streamline supply chains and provide reliable distribution networks across the vast geography. Many leading logistics companies have established sophisticated infrastructure and IT systems tailored to meet the stringent regulatory norms for transporting temperature-sensitive drugs. This is helping major pharmaceutical manufacturers to efficiently deliver their products from manufacturing facilities to warehouses and hospitals across the U.S. and Canada.
• The Europe market is expected to be the second-largest market for global pharmaceutical logistics, accounting for over 29.1% of the market share in 2023. The growth of the market is due to the growth of temperature-sensitive drugs and vaccines. According to the recent estimates provided by the European Centre for Disease Prevention and Control (ECDC) indicate that over 50% of new drugs in the (R&D) research and development pipeline require temperature-controlled storage and transport. This is pushing pharmaceutical companies and logistics providers to ramp up their cold chain capabilities across Europe.
• The Asia Pacific market is expected to be the fastest-growing market for global pharmaceutical logistics, with a CAGR of over 21.5% during the forecast period. The growth of the market in Asia Pacific is due to Countries like China, India, Japan, and Australia present tremendous opportunities for pharmaceutical companies as their healthcare sectors expand in sync with economic development. The Active Pharmaceutical Ingredients (API) manufacturing capabilities that many Asia Pacific countries possess are helping establish regional supply networks within Asia as well as with other parts of the world. Logistics providers are investing in specialized vehicle fleets advanced warehousing technologies and trained staff to address the diverse and complex logistical needs of multi-national drug makers in high-growth Asia Pacific export hubs. Cross-border transportation and free trade agreements also promise to streamline pharmaceutical logistics across many Asia Pacific nations, further propelling the market opportunities.