Healthcare Logistics Market Size to Reach USD 143,344.29 – GlobeNewswire
| Source: Data Bridge Market Research Data Bridge Market Research
NEW YORK, Sept. 20, 2022 (GLOBE NEWSWIRE) — Data Bridge Market research has a newly released expansive study titled “Global Healthcare Logistics Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market. The universal Healthcare Logistics Market survey report delivers key data about the product portfolios, product values, company profiles, shares, and contact data for the company. It also represents a summary of sales, revenue share, demand/supply data, and market growth analysis during the predicted period. This market study report on the world market encompasses the evaluation of distinct parameters that uplift the growth of the global industry. When tracking market trends, researchers and analysts have made a careful effort.
Data Bridge Market Research analyses that the healthcare logistics market is expected to reach the value of USD 143,344.29 million by 2029, at a CAGR of 7.6% during the forecast period. “Non-Cold Chain” accounts for the largest technology segment in the healthcare logistics market as it requires much less capital investment. The healthcare logistics market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Market Outline: –
Healthcare comprises maintenance or improvement of wellness through the conclusion, anticipation, therapy, recuperation, or fix of infection, disease, injury, and different physical and mental impedances in individuals. Healthcare help is addressed with the aid of using fitness experts in allied health fields. Dentistry, pharmacy, nursing, audiology, medicine, optometry, midwifery, psychology, occupational and bodily therapy and different health professions are all additives to healthcare.
Logistics refers to the general procedure of managing how resources are acquired, stored, and transported to their final destination. It contains figuring out potential distributors and providers and dealing with their effectiveness and accessibility. Hence, healthcare logistics is the logistics of medical and surgical supplies, pharmaceuticals, clinical gadgets and equipment, and different products demanded to assist doctors, nurses, and different healthcare specialists.
Logistics is utilized in the healthcare industry to control the manner resources are kept, obtained, and transferred. The effective use of logistics in this business aids in the continual transport of pharmaceuticals, devices, and systems from vendors and providers positioned throughout the country. Hospitals and clinics, in addition to wholesalers of clinical objects and big pharmacy retail chains, make up the healthcare industry.
Some of the major players operating in the Healthcare Logistics market are
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Important Facts about This Market Report:
Healthcare logistics Market Dynamics:-
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
E-commerce or electronic commerce is the process of buying and selling goods and services over an electronic network or online platform, primarily the Internet. In recent times, the widespread use of e-commerce platforms such as Amazon, Flipkart, and eBay has contributed to substantial growth in online buying and selling of goods. This has provided a platform for consumers to freely purchase healthcare products and use them according to their requirements.
Third-party logistics is outsourced with operational logistics from warehousing to delivery, this includes providing a number of services in the supply chain such as freight forwarding, packaging, order fulfillment, inventory forecasting, picking and packing, warehousing, and transportation. Third-party logistics offer a wide range of benefits as it helps the business owners to focus more on the other aspects of business such as product development, marketing, and sales. The high benefits offered by third-party logistics are therefore acting as the major factor for boosting the growth of the global healthcare logistics market.
Globalization is the interdependence of the world’s economies, populations, and cultures brought together by cross-border trade in technology, goods, and others. Today, most of the country’s economy is highly dependent on buying and selling goods among various countries. Asia-Pacific and North America region has been the major players in global trade and has a high volume of trade flow that has increased the requirement of logistics service providers to make the flow of trade more convenient and faster. Thus, it is boosting the growth in the healthcare logistics market globally.
As traffic volumes and congestion grow on roadways and waterways, freight and transport service operators grow to be increasingly challenged to keep reliable schedules. This affects supply chains and truck-dependent businesses, each of which is of growing significance for both public coverage and private region operators. Moreover, several accidents on roads or oil spills at sea can result in unexpected healthcare logistics restraints. Recent COVID-19 has also halted several logistics operations causing severe damage to entire supply chain operations. These factors act as a significant restraint for the growth of the global healthcare logistics market.
The cost associated with reverse logistics services offered by various manufacturers and service providers is high. Reverse logistics services are quite popular in the healthcare sector due to the high demand for various healthcare-related products. According to Thomas Publishing Company, Industrial equipment return rates are approximately 4% to 8%, while healthcare equipment has 8% to 20%. Total U.S. revenue impacted by returns is estimated between USD 52 Million and USD 106 Million.
The reason for reverse logistics services being so expensive are a combination of various factors which determine the pricing of these services.
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By Type (Cold Chain and Non-Cold Chain),
By Component (Hardware, Software and Services),
By Temperature Type (Ambient, Chilled/Refrigerated, Frozen and Cryogenic),
By Logistics (Transportation, Packaging, Storage and Others),
By Logistic Type (Sea Freight Logistics, Air Freight Logistics, Overland Logistics and Contract Logistics),
By Application (Medicine, Bulk Drug Handlers, Vaccine, Chemical & Other Raw Material, Biological Material And Organs, Hazardous Cargo and Others),
By End User (Biopharmaceutical Companies, Hospitals & Clinics, Research Institutes and Others)
Market Regional Analysis/Insights
The healthcare logistics market is analysed and market size insights and trends are provided by country, type, product, application, components, temperature type, logistics, logistics type and end user as referenced above.
The countries covered in the healthcare logistics market report are U.S., Canada and Mexico in North America, Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Austria, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Taiwan, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the healthcare logistics market and is expected to be the fastest-growing region in the world. The rising infrastructure, commercial, and industrial developments in emerging countries such as U.S., Canada and Mexico are credited with the market’s dominance. U.S. dominates the North America region as countries’ sea freight logistics, air freight logistics, overland logistics and contract logistics are continuously developing their logistic services. U.K. dominates the Europe healthcare logistics market; this is attributable to the high benefits offered by third party logistics. China dominates the Asia-Pacific healthcare logistics market. The demand in this region is projected to be driven by the third party logistics offer wide range of benefits.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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