Healthcare Logistics Market in North America 2019-2023
Healthcare Logistics Market in North America: About this market
Healthcare logistics involves the physical flow of pharmaceutical products from the manufacturing point to the point of use. Technavio’s healthcare logistics market analysis in North America considers sales through the transportation and warehousing segments. The logistics services find applications in pharmaceutical products and medical devices segments. Our analysis also considers the sales of healthcare logistics in the US, Canada, and Mexico. In 2018, the transportation segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the increasing government expenditure and a growing number of patent expiration will significantly help the market segment in maintaining its leading position. Also, our North America healthcare logistics report has observed market growth factors such as the growth of healthcare industry, use of RFID and IoT in healthcare cold chain logistics, and legislative and regulatory changes supporting pharma growth. However, high cost of branded drugs, managing inventory loss and SKU proliferation at warehouses, and barriers in cold chain pharmaceutical logistics may hamper the growth of the North American healthcare logistics industry over the forecast period.
Healthcare Logistics Market in North America: Overview
Use of RFID and IoT in healthcare cold chain logistics
Vendors have started incorporating technologies such as RFID and IoT to improve their services. As a result, consumers are able tocan maintain the quality and integrity of drugs during transportation and storage. This will increase the demand for cold chain services with RFID and IoT technologies for transporting temperature-sensitive drugs. As a result, the healthcare logistics market in North America will expand at a CAGR of almost 6% during the forecast period.
Emergence of drones in healthcare logistics
Vendors are constantly innovating to improve services, which will help them in improving revenue generation. They have started using drone technology to deliver low weight healthcare products to hard-to-reach remote areas. This further has been helping pharmaceutical companies in improving their customer base and sales. Therefore, this trend will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the healthcare logistics market in North America during the forecast period 2019-2023, click here.
With the presence of several major players, the healthcare logistics market in North America is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading Healthcare Logistics manufacturers, which include AmerisourceBergen Corp., Deutsche Post AG, FedEx Corp., Kuehne + Nagel International AG, and United Parcel Service of America Inc.
Also, the North American healthcare logistics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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