Asia-Pacific Pharmaceutical Logistics Market Size

Asia Pacific Pharmaceutical Logistics Market Analysis

The Asia-Pacific Pharmaceutical Logistics Market size is estimated at USD 152.79 billion in 2024, and is expected to reach USD 211.16 billion by 2029, growing at a CAGR of 6.68% during the forecast period (2024-2029).

• The Asia-Pacific Pharmaceutical Logistics Market is rapidly growing due to the increasing drug demand from emerging countries. The number of patients in developed and developing regions is increasing rapidly, which in turn is impacting the existing pharmaceutical distribution channels. This has led to an increased demand for logistics services provided by pharma companies to meet this increasing need for supply management solutions.
• The Asia-Pacific Pharmaceutical Logistics Market is the fastest-growing market in the pharmaceutical industry. The demand for pharmaceutical logistics services has been on the rise in recent times, emerging as a strategic business for drug manufacturers, distributors, retailers, and other players involved in the supply chain management of drugs.
• The rise in demand is due to increasing healthcare expenditure across the region, coupled with the growing use of generic substitutes and increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular ailments like hypertension which are associated with high treatment costs.
• The Asia Pacific Pharmacy Logistics Market is driven by the growth in demand for herbal drugs in developing markets such as China, India, and Japan, along with the increase in prescriptions across developed economies such as Australia, Hong Kong, South Korea, and Singapore.
• Due to the COVID-19 pandemic's effects on the healthcare cold chain industry's supply chain and the pandemic's restrictions on commerce, cold chain manufacturers focused more on storage to extend their products' shelf lives, which was expected to fuel the market for cold chain expansion.