The global healthcare logistics market size is expected to grow from USD 145.2 billion in 2021 to USD 264.7 billion by 2030, at a CAGR of 7.8% from 2022 to 2030. Healthcare logistics refers to the packaging and transportation of pharmaceuticals, medical devices, surgical and medical supplies, and other healthcare products to hospitals, pharmacies, diagnostic and research laboratories, and other end users. Factors such as the rising prevalence of chronic diseases and expanding aging population are driving the demand for efficient logistics services. Moreover, technological advances in the healthcare and logistics industries and collaborative partnerships between third-party logistics (3PL) providers are other growth drivers for the global healthcare logistics market.
Competitive dynamics in the healthcare industry have changed significantly in recent years. Rising healthcare costs, fierce competition, rationalization, and regulatory changes have added to fewer blockbuster drugs being launched in the market. Factors such as a strict regulatory environment and the offerings of healthcare companies impact patients’ health and well-being and drive the healthcare industry.
The increasing cost pressures have made it imperative for vendors to find different ways of assisting both current and new geographies, customers, and markets. Also, agile and flexible supply chains are essential requirements for several healthcare companies. They can gain access to logistics capabilities and resources that are not present internally with the help of outsourcing. Also, outsourcing logistics requirements enables healthcare companies to free up their human resources and capital and focus on core business activities, including R&D initiatives, medical supplies, and medication or medical equipment production. Thus, outsourcing provides immense opportunities to pharma and other healthcare and life science companies to implement strategic changes for optimal growth.
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