NEW YORK, July 16, 2021 /PRNewswire/ — The global pharmaceutical warehousing market is expected to grow by USD 13.30billion, progressing a CAGR of over 4% during 2021-2025, according to Technavio’s latest market report. Based on our research, the Air Freight and Logistics sector witnessed a negative impact due to the widespread growth of the COVID-19 pandemic. The report also throws light on the pre- and post-impact of COVID-19 on businesses.
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The non-cold chain warehousing segment offered significant growth opportunities for market players in 2020. The increased demand for non-cold warehousing services from public warehouses, bonded warehouses, government warehouses, and cooperative warehouses played a crucial role in driving the growth of the segment. Based on the geography. the market witnessed maximum growth in APAC in 2020 and the region is expected to continue its dominance in the market during the forecast period. Factors such as an increase in economic and trade activities in China, India, and Japan and a rise in the number of diseases will contribute to the growth of the pharmaceutical warehousing market in APAC.
Pharmaceutical Warehousing Market: Major Growth Drivers
The pharmaceutical warehousing market report identifies the following factors as major growth drivers during the forecast period:
- Increased focus on quality and product sensitivity in the pharma industry
- Automation at warehouses to increase efficiency and accuracy
In addition, the report identifies the rise in demand for outsourcing pharmaceutical warehousing services as a major trend in the pharmaceutical warehousing market. The growing demand for drugs is compelling pharmaceutical companies across the world to step up their production capacities. This is creating an augmented need for logistics for the storage of raw materials and finished goods for retailers and distributors, which is increasing supply chain complexities faced by pharmaceutical companies. Hence, manufacturers are outsourcing their supply chain operations to warehouse and storage service providers. This helps manufacturers achieve operational efficiency, cost savings, and enables them to focus on their core competencies.
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Pharmaceutical Warehousing Market: Key Vendor Offerings
Agility Public Warehousing Co. KSCP: The company offers complete supply chain services for pharmaceutical companies.
BDP International Inc.: The company offers pharmaceutical warehousing services under BDP Smart Life Sciences.
CEVA Logistics AG: The company offers end-to-end cold chain and non-cold chain solutions for pharmaceutical warehousing services under the brand name FORPATIENTS.
DHL International GmbH: The company offers multi-user warehousing with transportation for the pharmaceutical industry under pharma solutions.
FedEx Corp.: The company offers pharmaceutical warehousing services under FedEx Custom Critical.
Reasons to Buy Pharmaceutical Warehousing Market Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist pharmaceutical warehousing market growth during the next five years
- Estimation of the pharmaceutical warehousing market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the pharmaceutical warehousing market across North America, Europe, Asia, and ROW
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of pharmaceutical warehousing market vendors
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Related Reports on Industrials Include:
Global Chemical Warehousing and Storage Market – Global chemical warehousing and storage market is segmented by type (general warehouse and specialized warehouse), application (commodity chemicals and specialty chemicals), and geography (APAC, North America, Europe, South America, and MEA).
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Global Chemical Logistics Market – Global chemical logistics market is segmented by service (transportation, warehousing, and others) and geography (APAC, North America, Europe, MEA, and South America).
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