The pharmaceutical logistics market in North America to grow at a CAGR of 4.51% during the period 2018-2022.
Pharmaceutical Logistics Market in North America 2018-2022, 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. To calculate the market size, the report considers the revenue generated from the sales of pharmaceutical logistics.
The pharmaceutical logistics market in North America is significantly fragmented due to the presence of several international and regional pharmaceutical logistics Companies. The companies are competing intensely to offer secured supply chain functions and cloud-based supply chain solutions. The continuous evolution of pharmaceutical products is encouraging the manufacturers to focus on enhancing their product portfolio.
The latest trend gaining momentum in the market is increasing number of consolidations. The pharma logistics market is highly fragmented and several large pharmaceutical logistics companies are entering into consolidation to extend their geographical presence and proprietary knowledge. Large firms acquire new technologies and expertise, while providing the smaller vendors with adequate financial and infrastructural support.
According to the report, one of the major drivers for this market is increasing adoption of sea-based pharmaceutical logistics. Owing to the rising air freight rates and cold chain security in air freight, pharmaceutical companies are adopting alternative transportation routes such as land and ocean. Sea-based transportation solutions reduce costs while proving a clinically maintained environment to preserve the pharmaceutical products. As a result, companies located near these ports prefer importing goods through ocean freight.
Consolidation in North American pharmaceutical logistics market
Measures to reduce counterfeiting in pharmaceutical logistics
Innovative technologies in pharmaceutical logistics