Pharmaceutical Logistics Market in North America 2018-2022
About Pharmaceutical Logistics
The pharmaceutical logistics market in North America is significantly fragmented due to the presence of several international and regional pharmaceutical logistics Companies. The companies are competing intensely to offer secured supply chain functions and cloud-based supply chain solutions. The continuous evolution of pharmaceutical products is encouraging the manufacturers to focus on enhancing their product portfolio. The pharmaceutical logistics market in North America can be segmented into two types based on the supply chain, that is, cold chain and non-cold chain. The non-cold chain is more widely used, and the segment is expected to have a higher market share during the forecast period of 2018-2022.
Technavio’s analysts forecast the pharmaceutical logistics market in North America to grow at a CAGR of 4.51% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global laboratory centrifuge market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of pharmaceutical logistics.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Pharmaceutical Logistics Market in North America 2018-2022
Technavio recognizes the following companies as the key players in the pharmaceutical logistics market in North America: Agility, DHL, DSV, FedEx, Kuehne + Nagel, and UPS.
Other Prominent Vendors in the market are: Air Canada Cargo, Expeditors International of Washington, and PANALPINA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing number of consolidations. The pharma logistics market is highly fragmented and several large pharmaceutical logistics companies are entering into consolidation to extend their geographical presence and proprietary knowledge. Large firms acquire new technologies and expertise, while providing the smaller vendors with adequate financial and infrastructural support.”
According to the report, one of the major drivers for this market is increasing adoption of sea-based pharmaceutical logistics. Owing to the rising air freight rates and cold chain security in air freight, pharmaceutical companies are adopting alternative transportation routes such as land and ocean. Sea-based transportation solutions reduce costs while proving a clinically maintained environment to preserve the pharmaceutical products. As a result, companies located near these ports prefer importing goods through ocean freight.
Agility, DHL, DSV, FedEx, Kuehne + Nagel, UPS, Air Canada Cargo, Expeditors International of Washington, and PANALPINA.
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