The global pharmaceutical warehousing market to grow at a CAGR of 4.85% during the period 2017-2021.
The report, Global Pharmaceutical Warehousing Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is energy-efficient warehouses. Energy-efficient warehouses have improved operational efficiency with low operating costs. These warehouses provide highly innovative inventory tracking methods and value-added services, such as repackaging and quality control testing.
According to the report, one of the major drivers for this market is increased demand for pharmaceutical products. Due to the rise in generic and branded drug production, improvement in drug research, availability of high-potency drugs, and innovation in drug manufacturing processes, there is an increased demand for pharmaceutical products worldwide. High-quality medicines available in local medical retail store outlets increase accessibility for the customers.
Further, the report states that one of the major factors hindering the growth of this market is capital-intensive business. The global pharmaceutical warehousing market is capital-intensive and requires high capital infrastructure in terms of large storage space facilities. With the increase in demand for value-added services and specialized professional supply chain solutions in the logistics market, the industry is becoming highly competitive in terms of the pricing of services.