Healthcare Logistics Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Healthcare is the maintenance or improvement of a person's health through the prevention, diagnosis, treatment, rehabilitation, or correction of infection, injury, disease, and other physical and mental barriers. Allied health workers assist with medical care. health care encompasses dentistry, medicine, optometry, midwifery, pharmacy, nursing, audiology, psychology, occupational and physical therapy, and other health professions. Logistics refers to managing resource collection, storage, and movement. It includes locating potential distributors and suppliers and ensuring their efficiency and accessibility. Packaging and shipping medications, medical equipment, surgical and medical supplies, and other healthcare products to hospitals, pharmacies, diagnostic and research laboratories, and other end users are referred to as healthcare logistics.
Market Dynamics
Rising Demand for Pharmaceuticals and Medical Devices Drives the Global Market
One of the crucial growth drivers of the global healthcare logistics industry is the rising global demand for medications and medical devices. The production of medicines and medical devices is becoming increasingly complex as companies extend their product portfolios to suit client demands and adapt to the market's rapid evolution. The increasing frequency of chronic diseases increases the demand for modern healthcare products and services and enhanced medical assistance, particularly in rural areas. Such needs have also necessitated the safe delivery of pharmaceuticals and medical equipment. In addition, cold chain logistics is required due to the increasing need for temperature-controlled products, particularly pharmaceutical products, and the development of several innovative human cell-derived therapies.
Clinically Integrated Supply Chain Creates Tremendous Opportunities
Clinicians and supply chain specialists collaborate closely in a therapeutically integrated supply chain. By altering their operations, physicians frequently work with their supply chain partners for assistance, information, and direction on product price points, outcomes, and alternatives to enhance the patient experience. In addition, supply chain professionals will earn clinicians' confidence by demonstrating the supply chain's and its data's worth. A clinically integrated supply chain strategy can assist in delivering patient care with the highest value in terms of optimal results, high quality, and minimal waste at the lowest cost. The integration and synchronization of supply chain and clinical data, expertise, and leadership throughout the whole continuum of care assure timely delivery of evidence-based, safe, equitable, efficient, and patient-centered treatment.
Regional Analysis
North America is the most significant global healthcare logistics market
shareholder and is anticipated to exhibit a CAGR of 7.75% during the forecast period. Since the senior population in the region continues to climb, the incidence of chronic diseases has also increased, generating demand for modern healthcare products and services as well as improved medical aid to treat the growing number of chronic disease patients successfully. This has consequently increased the demand for safe and secure transport of pharmaceuticals, medical equipment, and devices in this region. According to a 2017 WTO study, the United States is the world's second-largest exporter of medical products, with reported exports of USD 116 billion. The United States is also the second-largest ventilators exporter and the third-largest personal protective equipment exporter. North American citizens' high acceptability and open-mindedness have aided in developing and adopting numerous new revolutionary healthcare supply chain technologies by healthcare facilities.
Europe is estimated to exhibit a CAGR of 7.33% over the forecast period. Current healthcare operations in Europe involve value-based treatment, cost and margin concerns, and rising regulatory and compliance requirements. These forces push healthcare manufacturers to modify their supply chain operations to remain competitive in the logistics industry and continue assisting healthcare providers by putting patients first. Two main markets can be distinguished within the European medical device industry: mature or Western Europe and emerging or Eastern Europe. To meet the medical device and pharmaceutical demand in Europe, manufacturers and logistics providers must offer low-cost logistics services. Due to the severity of the COVID impact, the European healthcare industry is working around the clock to ensure a constant supply of essential drugs, medical supplies, and protective equipment. These policies have an immediate and severe impact on the internationally connected supply chains, driving the expansion of the regional market.
Key Highlights

The global healthcare logistics market was valued at USD 167.07 billion in 2022. It is estimated to reach USD 323.27 billion by 2031, growing at a CAGR of 7.61% during the forecast period (2023–2031).
Based on product, the global healthcare logistics market is bifurcated into pharmaceuticals and medical devices.
The pharmaceuticals segment dominates the global market and is projected to exhibit a CAGR of 7.8% over the forecast period.
Based on functionality, the global healthcare logistics market is divided into transportation, warehousing, and other services.
The transportation segment is responsible for the largest market share and is anticipated to exhibit a CAGR of 7.7% over the forecast period.
Based on end-user, the global healthcare logistics market is segmented into pharmacies, healthcare facilities, R&D laboratories, and other establishments.
The pharmacies segment owns the highest market share and is estimated to exhibit a CAGR of 7.8% during the forecast period.
North America is the most significant global healthcare logistics market shareholder and is anticipated to exhibit a CAGR of 7.75% during the forecast period.

Competitive Players
The key players in the global healthcare logistics market are AmerisourceBergen, CEVA Logistics, Deutsch Post DHL, FedEx Corporation, Kuehne + Nagel, DB Schenker, UPS, C.H. Robinson, DSV, Farmasoft, Cold Chain Technologies, XPO Logistics, Cardinal Health, Owens & Minor, Lufthansa Cargo, Medline, Oximio, Maersk, Alloga, Bollore Logistics, and PHEONIX Group.
Market News

In November 2022, Cardinal Health revealed the launch of VelocareTM, a supply chain network and last-mile fulfillment solution capable of delivering essential items and services required for hospital-level care at home to patients within one to two hours.
In August 2022, United Parcel Service Inc announced that it would acquire Bomi Group, an Italian healthcare logistics company, to enhance its ability to deliver pharmaceuticals requiring cold storage.

Global Healthcare Logistics Market: Segmentation
By Product

Pharmaceuticals
Medical Devices

By Functionality

Transportation
Warehousing
Others

By End-User

Pharmacy
Healthcare Facilities
Research and Diagnostic Laboratories
Others

By Regions

North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa

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