LONDON--(BUSINESS WIRE)--The global pharmaceutical warehousing market is projected to grow to USD 61.11 billion by 2021, at a CAGR of nearly 5% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global pharmaceutical warehousing market for 2017-2021. Based on the service type, the market is divided into non-cold chain warehousing and cold chain warehousing segments.
|Pharmaceutical warehousing involves physical movement of medicinal stock in and out of a medical store warehouse. The rise in demand for pharmaceutical products and the consequent rise in generic and branded drug production is driving the pharmaceutical warehousing market.|
Technavio’s research study segments the global pharmaceutical warehousing market into the following regions:
Pharmaceutical warehousing market in the Americas
“The pharmaceutical warehousing market in the Americas is expected to be worth nearly USD 25 billion by 2021. The increase in the development of pharmaceutical drugs in North America is expected to create a steady growth pattern in the market segment,” says Sharan Raj, a lead analyst at Technavio for warehouse and storage research.
The rising development activities in the field encourages various clinical trial supplies and drug logistic companies to expand their existing distribution channels. The increasing incidence of chronic diseases, aging population, and a shift toward home-based treatment are some key factors influencing the growth rate of the market segment.
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Pharmaceutical warehousing market in EMEA
Technavio analysts project the pharmaceutical warehousing market in EMEA to grow at a moderate rate during the forecast period, driven by the growth of organized pharmaceutical retailing and presence of advanced pharma warehouse infrastructure. Also, the adoption in terms of warehouse equipment and warehouse management systems (WMS) is further propelling the growth of the drug logistic market segment. France, Italy, Switzerland, and Germany are the key contributors to the market in this region.
Pharmaceutical warehousing market in APAC
“APAC is expected to be the fastest-growing regional segment, exhibiting a CAGR of nearly 9% through the forecast period. The rise in economic and trade activities in China, India, and Japan are expected to drive the impressive growth of the segment,” says Sharan.
APAC has witnessed a marked increase in pharmaceutical product consumption due to an increase in diseases, rapid urbanization, and increasing quality and availability of medicines. Also, various government initiatives are paving the way for better pharmaceutical warehousing facilities in terms of infrastructure, technology, and taxation policies, which is resulting in the increasing adoption of WMS.
The top vendors in the global pharmaceutical warehousing market highlighted in the report are:
- DB Schenker
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