According to the research report titled ‘Global Pharmaceutical Logistics Market Size study, by Product Type (Cold Chain Logistics, Non-cold Chain Logistics), Components (Storage, Transportation, Monitoring Components) and Regional Forecasts 2021-2027’, available with Market Study Report, global pharmaceutical logistics market was worth USD 73.3 billion in 2020 and is expected to register 8.6% CAGR over 2021-2027 to reach a valuation of USD 130.59 billion by the forecast period end.
 

Escalating demand for OTC medicines like minerals, vitamins, and supplements, coupled with increasing number of mergers or acquisition among pharma companies are catalyzing the growth of global pharmaceutical logistics market.
 

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Additionally, booming population, increasing awareness of fast-track assistance in healthcare industry as well as mounting product demand & adoption are propelling the industry remuneration. As per the records of Statista, the total amount spent by the U.S. on medicine in 2019 was USD 511.5 billion.
 

For the unversed, pharmaceutical logistics transport healthcare products by air and require specific equipment, harmonized handling procedures, storage facilities, and strong cooperation among cold chain partners.
 

Elaborating on the restraints, high cost of medicinal services is likely to impede market progression in the upcoming years.
 

With respect to product type, worldwide pharmaceutical logistics market is bifurcated into non-cold chain logistics and cold chain logistics. In terms of components, the industry space is classified into monitoring components, transportation, and storage.
 

From a regional point of view, North America, Europe, Latin America, and Asia pacific are major contributors to industry remuneration. Among these, North America currently holds a major market share, owing to affordability of urgent care services, high investment inflow in research and technology developments of medicinal services, and presence of well-established infrastructure in the region.
 

Parallelly, Asia Pacific industry is slated to register a remarkable growth rate over the forecast period, creditable to improving healthcare infrastructure, and rising discretionary income.
 

Leading companies in global pharmaceutical logistics industry include VersaCold International Corporation, Marksans Pharma Ltd., FedEx Corporation, DB Schenker (Deutsche Bahn AG), Air Canada Cargo, United Parcel Service Inc., Agility Public Warehousing Company K.S.C.P., Deutsche Post AG, CEVA Logistics and LifeConEx LLC among others.