LONDON--(BUSINESS WIRE)--The global rural clinical and healthcare logistics market will grow at a CAGR of more than 5% during the forecast period, 2018-2022, according to the latest market research report by Technavio.
A major factor driving the growth of the market is the increase in global demand for pharmaceuticals and medical devices. The increase in average life expectancy has promoted the increase in the global pharmaceutical sales. The global medical devices market is also expected to witness growth due to the revamping of the global manufacturing industry. For efficient transporting, warehousing, and distributing of pharmaceuticals and medical devices in large volumes to rural areas, manufacturing companies require specialized healthcare logistics services.
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In this report, Technavio highlights the introduction of blockchain technology in the logistics industry as one of the key emerging trends in the global rural clinical and healthcare logistics market:
Introduction of blockchain technology in the logistics industry
A blockchain technology is a digital platform that provides distributed transaction ledger, which helps various stakeholders in maintaining identical copies on multiple computer-controlled systems. In general, blockchain technology system uses a thread of cryptographically protected records and details of transactions for all stakeholders in the supply chain and distributes records across a network of related computer systems, thereby eliminating the requirement of a central authority to maintain records.
“Various logistic companies are implementing blockchain technology in their supply chain for improving efficiency and data security in the supply chain. The use of blockchain technology in rural clinical healthcare logistics will streamline the supply chain operations and will expedite the sharing of information and data,” says a senior analyst at Technavio for research on transportation and distribution.
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Global rural clinical and healthcare logistics market – segmentation analysis
This market research report segments the global rural clinical and healthcare logistics market based on service (transportation and warehousing) and key regions (the Americas, APAC, and EMEA).
APAC was the largest shareholder for the global rural clinical and healthcare logistics market in 2017, accounting for a market share of nearly 40%. It was followed by the Americas and EMEA respectively. The APAC region is expected to grow steadily, by posting an increase in market share of about 0.69% during the forecast period.
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