Asia Pacific Pharmaceutical Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Asia Pacific Pharmaceutical Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Asia-Pacific Pharmaceutical Logistics Market is expected to register a CAGR of more than 5% during the forecasted period.

• The Asia-Pacific Pharmaceutical Logistics Market is rapidly growing due to the increasing drug demand from emerging countries. The number of patients in developed and developing regions is increasing rapidly, which in turn is impacting the existing pharmaceutical distribution channels. This has led to an increased demand for logistics services provided by pharma companies to meet this increasing need for supply management solutions.
• The Asia-Pacific Pharmaceutical Logistics Market is the fastest-growing market in the pharmaceutical industry. The demand for pharmaceutical logistics services has been on the rise in recent times, emerging as a strategic business for drug manufacturers, distributors, retailers, and other players involved in the supply chain management of drugs.
• The rise in demand is due to increasing healthcare expenditure across the region, coupled with the growing use of generic substitutes and increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular ailments like hypertension which are associated with high treatment costs.
• The Asia Pacific Pharmacy Logistics Market is driven by the growth in demand for herbal drugs in developing markets such as China, India, and Japan, along with the increase in prescriptions across developed economies such as Australia, Hong Kong, South Korea, and Singapore.
• Due to the COVID-19 pandemic's effects on the healthcare cold chain industry's supply chain and the pandemic's restrictions on commerce, cold chain manufacturers focused more on storage to extend their products' shelf lives, which was expected to fuel the market for cold chain expansion.

Due to the COVID-19 pandemic's effects on the healthcare cold chain industry's supply chain and the pandemic's restrictions on commerce, cold chain manufacturers focused more on storage to extend their products' shelf lives, which was expected to fuel the market for cold chain expansion.

Healthcare spending in the region is growing quickly due to an aging population and rising disposable incomes. It will continue to be crucial to the prospects of global pharmaceutical and biotechnology companies. India, China, Singapore, South Korea, and other countries in the Asia-Pacific region are quickly becoming important hubs for the outsourcing of pathology testing, drug manufacturing, and clinical trials.

This has increased the demand for temperature-sensitive healthcare products, such as vaccinations, biopharmaceuticals, and clinical trial materials. These changes have fueled the Asia-Pacific region's demand for cold storage facilities and supported more investments in ongoing infrastructure upgrades. The healthcare cold chain logistics services are being improved by the governments of various Asian nations.

The demand for biopharmaceuticals and vaccines, which require cold chains, is rising. Stricter government restrictions are also to blame for the efficient handling of temperature-sensitive pharmaceutical items.

The demand for healthcare cold chain logistics is also fueled by the booming pharmaceutical industry, which is developing to meet the healthcare needs of the expanding population. Factors limiting market expansion include a lack of consistency in operating processes, security, temperature, pest management, and expensive operational costs.

In terms of market value, China was in the top 50 Asia-Pacific (APAC) pharmaceutical companies during the first quarter of 2021. Compared to Q4 2020, the 50 APAC companies' combined market capitalization increased by 3.8% at the end of Q1 2021, with 28 Chinese companies making up 60% of the total. The pharmaceutical industry in Japan is growing to become the second-largest in the world. Over the years, foreign direct investments (FDI) have gradually expanded in the Japanese pharmaceutical industry, helping the nation build a global presence. Four of the top 25 pharmaceutical businesses in the world are headquartered in Japan.

The market is expanding due to increased demand for efficient cold-chain logistics services to maintain the quality of goods. Additionally, the logistics and cold chain for the pharmaceutical business are becoming more strategic and dependable. The majority of high-value pharmaceutical items are distributed throughout the whole distribution network using cold chain solutions, which is what is fueling the market's expansion in the Asia-Pacific region.

The market for pharmaceutical logistics in the Asia-Pacific region is highly competitive and fragmented, with many participants. A secure supply chain function and cloud-based supply chain solutions are priorities for many businesses. These technical advancements assist manufacturers in determining the legitimacy of the drugs, preventing the development of fake pharmaceuticals and medical equipment. To increase their geographic reach and access to proprietary knowledge, many businesses engage in merger and acquisition activities.

Additionally, they want to lower the total cost of packaging their goods. Kuehne + Nagel, DB Schenker, DHL, DSV Panalpina, FedEx, Bio Pharma Logistics, Kerry Logistics, Genco, Arich Enterprise Co., Ltd, Mainfreight Ltd, Thermotraffic, Bestchain Healthtaiwan, Movianto, and Zuellig Pharma Asia Pacific Ltd. are a few of the leading businesses currently operating in the market.

• The market estimate (ME) sheet in Excel format
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