Market Size of United States Pharmaceutical Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
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?
US Pharmaceutical Logistics Market Analysis
The United States Pharmaceutical Logistics Market is estimated to register a CAGR of 3% during the forecasted time period.
- Transportation problems were making it hard to distribute COVID-19, which was causing problems in the drug supply chain.Port disruptions, quarantined personnel, and labor shortages caused by lockdowns were all factors. Furthermore, COVID-19 slowed the development of new pharmaceutical products due to material shortages, interruptions in clinical trials, and delays in FDA clearance. Customers were more inclined to stay at home and avoid in-person pharmacies to avoid infection; therefore, distribution efforts turned primarily to at-home delivery systems, such as internet pharmacies and assistive applications.
- In the United States, there has been a big increase in the production of generic drugs because they are cheaper than brand-name drugs and don't need as much research and testing.Generic drugs have also helped keep the country's health care system going by making it easier for patients to get the care they need and saving money for taxpayers, employers, and insurance companies.As a result, the US government is pushing the use of generic pharmaceuticals in order to reduce the country's healthcare spending.
- Pharmaceutical distributors are at the core of the healthcare ecosystem in the United States. Distributors manage 92% of pharmaceutical sales, bringing efficiency and order to a supply chain that connects two extremely fragmented markets: 1,300 manufacturers and 180,000+ points of sale. With the increased shipment of medicines, life sciences, and medical devices throughout the world, the majority of it is coming from the United States and Europe.
- Even though regulations are getting stricter, the biopharmaceutical industry is sending more shipping and distribution jobs to third-party logistics firms. Because of this, electronic cargo monitoring, which includes reporting on where the cargo is and how it is doing in almost real time, is becoming a popular alternative.
