Healthcare Logistics Market to increase by USD 87.9 billion during 2022 to 2027; Growing global pharmaceutical sales to drive the growth- Technavio
NEW YORK, Sept. 5, 2023 /PRNewswire/ -- The healthcare logistics market size is expected to grow by USD 87.9 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 11.67% during the forecast period. The market is segmented by Product (Pharmaceutical products and Medical devices), Service (Transportation and Warehousing), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample
Growing global pharmaceutical sales drives the growth of the healthcare logistics market. The market includes prescription drugs and over-the-counter drugs. The growth of the global market can be attributed to factors such as the growing geriatric population and new product launches by pharmaceutical manufacturers. Furthermore, the incidence of chronic diseases and the need for improved medical assistance are increasing.
Also, with the growing number of patients, there is a dire need for advanced equipment to effectively deal with it. Additionally, increasing healthcare awareness and growing medicinal knowledge among people with the help of the Internet increases the sales of over-the-counter drugs. Hence, such factors fuel the growth of the healthcare logistics market during the forecast period. The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
The pharmaceutical products segment will be significant during the forecast period. These products include branded drugs, generic drugs, and other vaccines. New drug approvals also drive the demand for pharmaceutical logistics. The products based on the requirements of pharmaceutical manufacturers enable logistics players to convert or set up their existing logistics or warehouse units. For instance, the FDA Center for Drug Evaluation and Research (CDER) approved 46 new drugs or new molecular entities (NME) in 2018, which was more than the number of entities approved in 2017. Hence, factors like new product launches boost the growth of the pharmaceutical products segment of healthcare logistics during the forecast period. Get a glance at the market contribution of the segments, Request a Sample
The Internet Of Things Market In The Healthcare Sector size is estimated to grow at a CAGR of 20% between 2022 and 2027. The market size is forecast to increase by USD 161.6 billion.
The global healthcare information software market size is estimated to grow by USD 7,279.27 million at a CAGR of 4.98% between 2022 and 2027. Technavio has segmented the market into Application, Deployment, and Geography. North America is estimated to contribute 37% to the growth of the global market during the forecast period.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Service
Market Segmentation by Geography
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/healthcare-logistics-market-to-increase-by-usd-87-9-billion-during-2022-to-2027-growing-global-pharmaceutical-sales-to-drive-the-growth--technavio-301917035.html
Keynote Presentation by Avaya
Continental Breakfast Served
The IT Opportunity for FOW, Part 1 â€“ Data Networks and SD WAN