Dublin, April 23, 2024 (GLOBE NEWSWIRE) -- The "Healthcare Third-party Logistics Market - Global Industry Size, Share, Trends, Opportunity, & Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Healthcare Third-party Logistics Market was valued at USD 191.59 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.21% through 2028, reaching USD 287.88 million. The Global Healthcare Third-party Logistics Market has emerged as a dynamic and essential component of the healthcare industry, providing a range of logistical services to pharmaceutical companies, medical device manufacturers, hospitals, and healthcare providers. With a focus on optimizing supply chains, improving cost-efficiency, and ensuring timely delivery of healthcare products, this market has experienced significant growth and transformation.
One of the primary drivers of this market is the increasing complexity of healthcare supply chains. The pharmaceutical industry, in particular, has seen a surge in the need for specialized logistics services to handle temperature-sensitive drugs, biologics, and high-value medications. Third-party logistics providers offer specialized expertise in handling and transporting such products, including cold chain logistics, which is crucial in maintaining the integrity and efficacy of many medical products.
Moreover, regulatory compliance and quality assurance are of paramount importance in the healthcare sector. Healthcare third-party logistics providers are well-versed in adhering to stringent regulatory requirements, ensuring product safety, and managing the necessary documentation and reporting. This expertise is essential in an industry where compliance failures can result in severe consequences.
Innovations in technology, such as data analytics, blockchain, and artificial intelligence, are also reshaping the healthcare third-party logistics landscape. These advancements enable real-time visibility, better inventory management, and predictive analytics, allowing companies to optimize their supply chains and reduce operational costs.
Key Market Drivers
- Complexity of Healthcare Supply Chains
- Regulatory Compliance and Quality Assurance
- Globalization of Pharmaceutical Markets
Key Market Challenges
- Data Security and Privacy Concerns
- Cold Chain Logistics
Key Market Trends
- E-commerce and Direct-to-Patient Delivery
- Specialized Pharmaceutical Logistics
Report Scope
In this report, the Global Healthcare Third-party Logistics Market has been segmented into the following categories:
Global Healthcare Third-party Logistics Market, By Industry:
- Biopharmaceutical
- Medical Device
- Pharmaceutical
Based on the Industry, Pharmaceutical industry emerged as the dominant segment in the global market for Global Healthcare Third-party Logistics Market in 2022. he pharmaceutical industry operates within highly complex supply chains, often involving multiple stakeholders, intricate regulations, and extensive global networks. The need for specialized logistics services is significant due to the diversity of pharmaceutical products, including temperature-sensitive medications, biologics, and high-value drugs. The pharmaceutical industry operates within a highly regulated environment, with stringent quality and safety standards. Adherence to Good Distribution Practices (GDP) and various regulatory requirements is non-negotiable. Healthcare Third-party Logistics providers with specialized knowledge in managing complex pharmaceutical logistics are well-positioned to help pharmaceutical companies comply with these standards.
Global Healthcare Third-party Logistics Market, By Service Type:
- Transportation
- Warehousing and Storage
- Others
Based on the Service Type, the Transportation segment emerged as the dominant player in the global market for Global Healthcare Third-party Logistics Market in 2022. Transportation is often the most critical and time-sensitive phase in the healthcare supply chain. The timely and efficient delivery of pharmaceuticals, medical devices, and healthcare products to hospitals, clinics, pharmacies, and patients is of paramount importance. Any delays or disruptions in transportation can impact patient care and safety. The pharmaceutical and medical device industries are inherently global, and healthcare products frequently move across national and international borders. Healthcare Third-party Logistics providers with a global presence and knowledge of international logistics, customs procedures, and regulatory requirements are invaluable in facilitating the expansion of healthcare companies into new markets. Their ability to handle complex international logistics and ensure timely delivery is a key driver of their high demand.
Global Healthcare Third-party Logistics Market, By Supply Chain:
- Cold Chain
- Non-Cold Chain
Global Healthcare Third-party Logistics Market, By Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
North America emerged as the dominant player in the global Healthcare Third-party Logistics Market in 2022, holding the largest market share. North America boasts a highly advanced and developed healthcare infrastructure, making it a prominent hub for pharmaceutical manufacturing, medical device production, and healthcare service providers. The region's robust healthcare ecosystem necessitates a reliable and efficient supply chain to meet the demands of healthcare companies, driving the demand for healthcare third-party logistics services. North America is at the forefront of technological advancements, including the implementation of advanced tracking and monitoring systems, automation, and data analytics in logistics. These technological innovations enhance the efficiency and transparency of supply chain operations, a crucial factor in the healthcare sector.
A selection of companies mentioned in this report includes, but is not limited to:
- Cardinal Health
- DHL Group
- SF Express
- Kinesis Medical B.V.
- United Parcel Service of America, Inc.
- Barrett Distribution
- AmerisourceBergen Corporation
- KUEHNE + NAGEL
- Kerry Logistics Network Ltd.
- Freight Logistics Solutions
Key Attributes
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $191.59 Million |
| Forecasted Market Value (USD) by 2028 | $287.88 Million |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/81fwjr
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- Global Healthcare Third-party Logistics Market
