Healthcare Logistics Market Size is Driven by Rising Demand for Advanced Medical Equipment And Reach the Market Size of USD 158.6 Billion by 2030 at a CAGR of 8.3%

The global healthcare logistics market size is expected to reach the market size of USD 158.6 Billion by 2030, with a CAGR of 8.3% throughout the forecast period, projections by Acumen Research And Consulting.

The secure transfer of raw materials, completed goods, and commodities is referred to as logistics. Healthcare logistics includes a set of activities, a workforce divided into numerous teams, and the transportation of medications, medical equipment, and other supplies needed for healthcare workers to perform their tasks. Healthcare operations are improved, resources are used more effectively, treatments are successful, staff and patients are satisfied, and operations are successful are all advantages of effective logistics and supply chains. Medical and pharmaceuticals logistics are other names for healthcare logistics in some settings.

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Healthcare Logistics Market Report Coverage:

Healthcare Logistics Market Growth Drivers

The primary element behind the growth of the healthcare logistics market is an increase in personal healthcare spending. The market will also benefit from other factors, like the introduction of cutting-edge technology and increased rivalry among manufacturers. Additionally, as chronic diseases spread, there will be a greater need for modern medical technology and services. The size of the healthcare logistics market will also expand with the introduction of advanced technology for delivering efficient medicines. Furthermore, a significant factor driving the global healthcare logistics market trend is the increase in pharmaceutical and monitoring implant demand on a global scale. Further increasing demand for the healthcare logistics industry is growing e-commerce and online selling activities, as well as internet usage. The rapidly evolving medical and pharmaceutical device sector has grown more sophisticated in recent years as rivals expand their product and service offerings to satisfy consumer demand and keep up with a market that is rapidly evolving. In the years to come, this will increase the market value for healthcare logistics.

Additionally, the need for medications used to treat the novel coronavirus disease is anticipated to fuel market growth. The development and design of organizations to outsource as well as the rising demand for biological drugs are anticipated to be the main factors propelling the growth of the healthcare logistics industry. The range of expansion will also be widened by continued study and development into the application of new medical technology.

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Impact of COVID 19 on Healthcare Logistics Market Share

The most recent COVID-19 virus discoveries have allowed a number of prominent pharmaceutical or vaccine companies to significantly extend their research and development efforts in order to produce potent anti-viral drugs. Due to the decision made by practically every country to shut down all manufacturing facilities except those responsible for producing necessities, COVID-19 had a significant influence on the healthcare logistics industry. More than 50 companies were conducting COVID-19 vaccine clinical trials all over the world, and some of the immunizations, like Sputnik V, Covaxin, Covishield, and mRNA, had already received approval for use in emergency situations in important nations like Russia, the United Kingdom, India, and the United States.

Strong Growth Displayed by E-Commerce Sector Boosts the Rise in Healthcare Logistics Market

The act of buying and selling goods and services over a networked platform or electronic market, most notably the Internet, is known as e-commerce, or electronic commerce. Online trade of goods and services has increased recently as a result of the increasing use of e-commerce sites like Flipkart, Amazon, and eBay. As a result, a framework has been created enable people to autonomously buy and use healthcare supplies as needed. As a result, the demand for healthcare logistics will increase during the next few years.

Healthcare Logistics Market Segmentation

The global healthcare logistics market is divided based on supply chain, product, and service type. Based on the supply chain, the global healthcare logistics market is categorized into non-cold chain logistics and cold chain logistics. Based on products, the market can is segmented into medical devices, pharmaceutical products, and others. By service type, the market is divided into transportation (air freight, sea freight, and overland transportation), warehouse and storage, and monitoring components.

Healthcare Logistics Market Regional Overview

The regions of the global healthcare logistics market include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Forecasts for the healthcare logistics market indicate that North America will hold sizable market shares and have the world's fastest growth over the next several years. The market's importance is partly due to the expanding economic, industrial, and infrastructure activities in emerging nations like the United States and Canada. Regional healthcare sectors are also being boosted by the expanding e-commerce and sophisticated healthcare sectors. In terms of air transport logistics, marine freight logistics, overland logistics, and third-party logistics, the United States still dominates North America.

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Healthcare Logistics Market Players

Some of the market players involved in healthcare logistics market are Deutsche Post DHL Group, Continental Cargo OU, Schenker AG, LifeConEx, Air Canada, Cold Chain Technologies LLC, CEVA Logistics AG, Kuehne + Nagel International AG, United Parcel Service Inc., FedEx Corp., AmerisourceBergen Corp., and VersaCold Logistics Services.

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The global digital logistics market size was registered USD 12,478 Million in 2020 and is expected to grow at a CAGR of 9% during the forecast period from 2021 to 2028.

The global pharmaceutical logistics market size is expected to reach USD 133 Billion by 2027, expanding at a CAGR of 9.0% from 2020 to 2027.

The global cold chain logistics market size is expected to grow at a CAGR of 7.2% from 2020 to 2027 and reach the market size of USD 366.1 Billion by 2027.

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