Press release
Asia-Pacific Pharmaceutical Logistics Market Achieves 6.41% CAGR from 2019-2023, Surges 12.77% in 2021 Amid COVID-19 Demand
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Asia-Pacific Pharmaceutical Logistics Market Size (2019-2029) - Regional Analysis by Diseases, Drugs, Therapy, Transport Modes, and Future Trends
https://www.makreo.com/report/asia-pacific-pharmaceutical-logistics-market-size-2019-2028
► Technological Innovations Propel Asia-Pacific Pharmaceutical Logistics Growth
Despite global economic challenges, the Asia-Pacific pharmaceutical logistics sector demonstrated remarkable resilience, achieving a GDP growth rate of 4.6% in 2023. Looking ahead, the International Monetary Fund (IMF) forecasts moderate growth of 4.2% in 2024, driven by increased healthcare expenditures and infrastructure investments. The region continues to be a critical hub for pharmaceutical logistics, bolstered by its expansive consumer base and growing urbanization.
Technological innovations, such as the Internet of Things (IoT) and Radio-Frequency Identification (RFID) for temperature monitoring, along with stringent regulatory compliance, are enhancing operational efficiencies and security within the pharmaceutical logistics sector. These advancements are essential for meeting diverse regulatory frameworks and quality standards, especially in response to the rising demand for biologics and specialized medications.
► APAC Pharmaceutical Logistics Market Dynamics by Country
• China
China commands over 25% of the Asia-Pacific pharmaceutical logistics market, driven by robust manufacturing capabilities and extensive distribution networks. The Pharmaceutical Logistics Market in China is bolstered by the country's significant investment in infrastructure and technology, ensuring efficient and reliable delivery of pharmaceuticals across its vast territory.
• Japan
Japan's pharmaceutical logistics market is distinguished by stringent regulatory standards and substantial investments in cold chain logistics. These measures are crucial for the safe delivery of drugs, particularly in light of the country's aging population and vulnerability to natural disasters. The Japan Pharmaceutical Logistics Market emphasizes precision and reliability, making it a leader in the region.
• India
The India Pharmaceutical Logistics Market is experiencing sustained growth, driven by strong macroeconomic factors. This growth has prompted multinational companies to adapt their strategies for local R&D and supply chain management. India's pharmaceutical logistics sector is evolving rapidly, with a focus on expanding capacity and enhancing efficiency to meet increasing domestic and international demand.
• South Korea
South Korea benefits from a highly developed healthcare system and a rising demand for biopharmaceuticals. This demand drives rapid advancements in logistics infrastructure, making the Pharmaceutical Logistics Market in South Korea one of the most advanced in the region. The country's commitment to innovation and technology integration is evident in its logistics operations.
• Australia
Australia's pharmaceutical logistics market is geared towards meeting the increasing demand for efficient healthcare services. The country's advanced logistics networks ensure the timely and safe delivery of pharmaceuticals, enhancing the overall healthcare system. The Australia Pharmaceutical Logistics Market continues to grow, driven by the need for high-quality healthcare services and efficient supply chain management.
► Rapid Evolution of the APAC Transportation Sector
The transportation sector in the Asia-Pacific region is rapidly evolving to meet the growing demands of the pharmaceutical logistics market, driven by booming e-commerce activities. Resilient supply chains capable of withstanding disruptions are critical, prompting manufacturers to diversify supply sources and enhance operational resilience. Initiatives like China's Belt and Road Initiative are bolstering regional connectivity and supporting growth initiatives in the Asia Pharmaceutical Logistics sector.
► Urbanization's Impact on Asia-Pacific Pharmaceutical Logistics
Urbanization across the Asia-Pacific region has emerged as a pivotal force reshaping the pharmaceutical logistics market dynamics. The concentration of populations in urban centers has catalyzed the development of sophisticated, centralized distribution networks tailored to meet the growing demand for pharmaceutical products. These networks capitalize on proximity to healthcare facilities and consumer markets, fostering operational efficiencies and cost reductions. Advancements in transportation infrastructure, such as improved road networks and modernized supply chain facilities, further bolster these efficiencies. As urbanization continues to accelerate, the pharmaceutical logistics sector stands poised to harness these trends to optimize supply chain management and ensure the timely delivery of essential medical supplies.
► Asia-Pacific Pharmaceutical Logistics Market Recent Developments
• May 30, 2024: JAS Worldwide announces its sponsorship of LogiPharma Asia 2024 in Singapore, gathering industry leaders to discuss pharmaceutical logistics.
• March 2023: A.P. Moller - Maersk expands its footprint in Latin America with new warehouses in Chile and Peru, enhancing its revenue streams.
• December 2022: DHL Supply Chain discloses its EUR 10 million investment plans to expand its Northern Taiwan plant, catering to logistics needs in healthcare and semiconductor industries.
• March 2022: Nippon Express U.S., Inc., a Group company of Nippon Express Holdings, Inc., obtains Good Distribution Practice (GDP) certification for its temperature-controlled facility near John F. Kennedy International Airport in New York City.
• August 2022: Nippon Express (China) Co., Ltd. launches a Healthcare Branch in Shanghai, bolstering its presence in China's pharmaceutical logistics sector.
► Future Outlook of the Asia-Pacific Pharmaceutical Logistics Market
The Asia-Pacific pharmaceutical logistics market is poised for significant growth, driven by demographic shifts, rising healthcare needs, and infrastructure investments. Initiatives such as the Belt and Road Initiative and Dedicated Freight Corridors in India are expected to further enhance cold chain capabilities and regional connectivity, supporting market expansion across developed and developing nations.
► Scope of Asia-Pacific Pharmaceutical Logistics Market
The scope of the Asia-Pacific pharmaceutical logistics market includes the transportation, storage, and distribution of pharmaceutical products throughout the region. This market covers a broad range of services, such as cold chain logistics, warehousing, inventory management, and transportation management. It serves pharmaceutical manufacturers, distributors, wholesalers, and healthcare providers, ensuring the safe and efficient delivery of medicines and medical supplies.
With the growing demand for efficient transport and logistics services, driven by the region's expanding e-commerce sector, large consumer base, and a healthy workforce, the market offers substantial opportunities for investment and development. These opportunities aim to meet the needs of the rapidly evolving pharmaceutical industry in the region.
The report delves into the Asia-Pacific pharmaceutical logistics sector, analyzing key parameters such as market revenue, performance at both national and state levels in major countries, and the legal and regulatory framework governing the industry. Additionally, it provides insights into key logistical challenges, demographic trends, and notable factors shaping the market dynamics.
► Period of Study:
• 2018 - 2023: Past and Present Scenario
• 2023 - Base Year of Study
• 2024 - 2029
► Market Segmentation:
• By Drugs
• By Type of Services
• By Mode of Transport
• By Therapy Area
• By Countries
► Countries Covered:
• China
• Japan
• South Korea
• India
• Australia
Similar Related Reports:
Latin America and MENA Pharmaceutical Logistics Market Size (2019-2029)
https://www.makreo.com/report/latin-america-and-mena-pharmaceutical-logistics-market-size-2019-2029
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