Market Size of Europe Pharmaceutical Cold Chain Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 19.59 Billion |
| Market Size (2029) | USD 31.32 Billion |
| CAGR (2024 - 2029) | 10.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Pharmaceutical Cold Chain Logistics Market Analysis
The Europe Pharmaceutical Cold Chain Logistics Market size is estimated at USD 19.59 billion in 2024, and is expected to reach USD 31.32 billion by 2029, growing at a CAGR of 10% during the forecast period (2024-2029).
Europe is home to some of the largest pharmaceutical and life sciences companies, including Roche Holding (Switzerland), Sanofi (France), GlaxoSmithKline (United Kingdom), AstraZeneca (United Kingdom), Novo Nordisk (Denmark), Merck Group (Germany), Allergan (Ireland), UCB (Belgium), Ipsen (France), and Lundbeck (Denmark), among others. Several pharmaceutical and life sciences companies are investing in Europe owing to the potential and opportunities it provides. Companies have been getting into M&As, opening manufacturing plants, investing in warehouses, technology advancements, etc., to expand their product offerings and improve their market share.
Owing to the large pharmaceutical market, Europe is one of the largest importers and exporters of pharmaceuticals. The United States and Switzerland were the EU's main trading partners for medicinal products in 2020. Among the EU member states, Germany was the largest exporter (EUR 49 billion) of medicinal products in 2020. The European Federation of Pharmaceutical Industries and Associations (EFPIA) represents around 1,900 pharmaceutical companies operating in Europe.
National pharmaceutical industry associations in the following 33 European countries are members of EFPIA: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, the Netherlands, Norway, Poland, Portugal, Romania, the Russian Federation, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, Ukraine, and the United Kingdom. In addition, 40 leading pharmaceutical companies are EFPIA members. COVID-19 further accelerated the demand for drugs and vaccines across Europe, which, in turn, drove the growth of the pharmaceutical logistics market in Europe.
