Global Healthcare Logistics Market Size, Share, Trends & Growth Analysis Report – Segmented By Supply Chain, Service Type, Product, and Region & Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Forecast from 2024 to 2032

Updated On: June, 2024
ID: 13418
Pages: 150

Global Healthcare Logistics Market Size (2024 to 2032)

The global healthcare logistics market was valued at USD 98.27 billion in 2023. The global healthcare logistics market is expected to grow at a CAGR of 7.78% during the forecast period. As a result, the global revenue is estimated to reach USD 192.87 billion by 2032 from USD 105.92 billion in 2024.

Logistics refers to a process of organizational transport of products and goods. It's the systematic procedure of shipment. Healthcare logistics refers to the specialized branch for the transfer of healthcare requirements. Delivery procedures have become essential in the healthcare industry as it is crucial to receive the equipment and medicine required for patient assistance timely. Any mismatch or delay in delivering healthcare essentials could prove to be threatening to an individual's health. In addition, Healthcare equipment is sensitive to temperatures and often has a particular set of guidelines to be followed during its transport and delivery. For instance, some equipment needs transportation in cold temperatures, and sometimes equipment is transported in parts. Therefore, there are specific healthcare logistics service providers hired by healthcare centers. 

MARKET DRIVERS

YOY rise in need for adequately organized logistics for healthcare systems is one of the major factors propelling the healthcare logistics market

The growing requirement for healthcare logistics by pharmaceuticals, clinics, and hospitals is expected to support the expansion of the market. In addition, there has been a recent surge in pharmaceutical biosciences research, further pushing the logistics requirement. In addition, they are growing business outsourcing processes to expand their reach and receive third-party logistics services like management and assistance. 

The increasing international transport to support the healthcare logistics market expansion. There has been a significant rise in international trade systems in recent years due to the rapid globalization of the world. However, the strict laws of international trade, especially for the healthcare sector, require assistance from proper logistics systems for smooth handling and transfer from one region to a foreign country. For instance, the parts of the same medical equipment are often made in different countries and then sent to another country for assembly. This type of complex route requires the assistance of logistics which uses various travel routes for goods transfer like ships, buses, airplanes, trucks, etc. 

The growing advances in medical equipment and the need for utmost care in their handling, along with the strict government regulations regarding the use of healthcare equipment that needs to be cleared by logistics, are further pushing the expansion of the market. Additionally, the growth of the online market sector, especially after the pandemic, is expected to work in favor of the market as many companies are now preferring E-commerce sites. 

The rising AI support and remote healthcare advancements with the adoption of IT sector assistance in the healthcare industry are supporting the advancement of the market. In addition, increasing transparency in logistic functions and improved guidelines for better public safety regarding transport are factors for market growth. For instance, it is possible to increase data collecting accuracy and fully automate the procedure using Auto-ID and Data Gathering (AIDC) technology. To avoid excess items with short expiration dates, tracking which patients use which products and providing better product tracking are crucial. Additionally, numerous technological advancements, including wearables and smartphones, incorporate AI. In logistics, AI-based solutions may be used to anticipate shortages and backorders. Healthcare logistics may benefit from the quicker and more precise data collecting, processing, and visualization made possible by IoT technologies.

MARKET RESTRAINTS

The growth of the healthcare logistics market is anticipated to be hindered due to the varied prices of healthcare logistics worldwide and the high cost of services. In addition, the market was also hampered due to the restrictions on trade and supply during the pandemic.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2032

Base Year

2023

Forecast Period

2024 to 2032

Segments Analysed

By supply chain, service type, product, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

Market Leaders Profiled

Air Canada, LifeConEx, AmerisourceBergen Corp., Cold Chain Technologies LLC, VersaCold Logistics Services, Continental Cargo OU, Deutsche Post DHL Group, Kuehne + Nagel International AG, FedEx Corporation, and Schenker AG.

SEGMENTAL ANALYSIS

Global Healthcare Logistics Market Analysis By Supply Chain

The healthcare cold chain logistics segment will dominate the market during the forecast period. This segment dominance is due to the demand for temperature-controlled products like covid vaccines worldwide and the increasingly stringent government rules for storing temperature-based medicine. Furthermore, the increasing demand for biological-based therapy has increased the production of cold-sensitive medicine. In addition, the population's systematic treatment procedure of cold stored medications is much appreciated for further pushing segment growth. 

The demand for non-cold logistics is also in steady progress because of the continuous logistic services provided for non-perishable objects and devices which do not need temperature control to regulate their function. In addition, healthcare centers have many standard devices and infrastructure equipment that do not need cold chain logistics and the associated complications. 

Global Healthcare Logistics Market Analysis By Service Type

The warehouse and storage segment is expected to dominate the market during the forecast period due to the high management level in the warehouses. In addition, the increased demand for pharmaceutical warehousing services like the distribution of bulk, cold storage, medicines storage, equipment storage, etc., is leading to the segment's advancement. Furthermore, the increasing demand for branded and generic pharmacies and the need for storage shows the segment's dominance. 

However, the transportation and monitoring segment is also expected to grow during the forecast period due to the resumption of trading and goods exchange after the pandemic. In addition, the shortage of medical supplies caused by the pandemic made the transportation industry even more, busier than usual, causing revenue for the segment. 

Global Healthcare Logistics Market Analysis By Product

The medical devices segment is expected to dominate the healthcare logistics market due to the technological advancements in the healthcare field, the growing geriatric population, and the consumer demands for accessible healthcare systems. In addition, the prevalence of chronic diseases, advanced surgical procedures, and rising R&D in healthcare equipment and medicine are advancing the segment. 

However, the pharmaceutical devices segment is also expected to dominate the market during the forecast period due to rising pharmaceutical industries and growing investments in business outsourcing for drug manufacturers. In addition, the rising research and developments in the pharmaceutical industries requiring assays and reagent kits help the segment's growth.

REGIONAL ANALYSIS

The market in North America is expected to dominate the revenue during the forecast period due to the desire for better healthcare services, rising incidence of chronic diseases, significant amounts of pharmaceutical items being purchased and sold domestically, commercial advancements, rising infrastructural development, and the prevalence of good logical services in nations like the U.S. and Canada.

The European market is also expected to proliferate due to growing demand for vaccines, increased generic medication supply, increased investment by top pharmaceutical companies, and expanding collections of cutting-edge medical gadgets. In addition, significant players in nations like the U.K., Italy, Germany, etc., are all factors that favor third-party logistics.

The market in Asia-Pacific is also expected to grow due to the population in the region, the healthcare sector expanding, economies growing, the pharmaceutical business growing, disposable incomes rising, and the demand for better healthcare services. In addition, third-party logistics offers a wide range of advantages attracting revenue in the countries like India, China, Japan, etc. 

KEY MARKET PLAYERS

There are several key market players in the global healthcare logistics market. Here are some significant participants, Air Canada, LifeConEx, AmerisourceBergen Corp., Cold Chain Technologies LLC, VersaCold Logistics Services, Continental Cargo OU, Deutsche Post DHL Group, Kuehne + Nagel International AG, FedEx Corporation, and Schenker AG.

RECENT MARKET HAPPENINGS

  • In September 2022, the 2022 Business Worldwide Magazine CEO Awards recognized Cedric Picaud of the multinational life science logistics company CRYOPDP. The honors recognize the most esteemed and creative business leaders from various industries. Here, unlike in many other business awards where the emphasis is on businesses, it is on the leaders of those businesses. Giving deserving CEOs and other C Level executives the recognition they deserve the goal and motivating others to experience similar success.

  • In September 2022, DHL Supply Chain expanded its foothold in Mexico by purchasing NTA, a leader in healthcare logistics. The world's largest logistics provider, DHL Supply Chain, a Deutsche Post DHL Group division, has purchased NTA, or New Transport Applications. This business specializes in offering logistical services to the pharmaceutical and healthcare industries. NTA, a reputable industry player with more than 20 years of experience in the Mexican market, provides more than 80 customers with services such as storing and transporting goods that need to be refrigerated and kept at a specific temperature.

  • In November 2022, Millstone Medical Outsourcing, the sector's top partner of choice for post-manufacturing and aftermarket services provided to medical manufacturers, will announce the completion of its acquisition of MycoScience. MycoScience joining Millstone expands Millstone's capabilities by providing cutting-edge laboratory and environmental testing services with years of industry and regulatory experience. In addition, after the acquisition, Millstone can offer these complementary services to its clients internally, with improved product testing controls.

  • In November 2022, it was recently announced that the acquisition of Bomi Group, a premier international provider of healthcare logistics and the subject of an earlier announcement, had closed. Through the acquisition, UPS Healthcare, the company's healthcare division, will expand its temperature-controlled facilities to 14 additional nations and hire 3,000 highly skilled workers across Europe and Latin America.

DETAILED SEGMENTATION OF THE GLOBAL HEALTHCARE LOGISTICS MARKET INCLUDED IN THIS REPORT

The global Healthcare logistics market research report has been segmented and sub-segmented based on the Supply Chain, Service Type, Product, and region.

By Supply Chain

  • Non-Cold Logistic
  • Cold Chain Logistics

By Service Type

  • Warehouse And Storage
  • Transportation

    • Sea Freight

    • Air Freight

    • Overland Transportation

  • Monitoring Components

By Product

  • Medical Devices
  • Pharmaceutical Devices
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Please wait. . . . Your request is being processed

Anil Kumar P is research manager at Market Data Forecast and responsible for Healthcare Domain.

Author

Anil Kumar P (Research Manager - Healthcare)

Anil Kumar P is the lead author of this report and the manager of the team responsible for authoring healthcare reports at Market Data Forecast. He holds a Bachelor’s degree in Pharmacy (Hons.) from BITS Pilani, one of India’s premier institutions. Over the past seven years, Anil has gained extensive experience working with multiple market research companies, where he has collaborated with a diverse range of clients—from innovative startups to Fortune 500 companies—delivering data-driven insights and strategic advice that drive business growth.

Read More

Frequently Asked Questions

At What CAGR, The Healthcare Logistics market is expected to grow from 2024 to 2032?

The Global Healthcare Logistics  market size is estimated to grow at a CAGR of 7.78% from 2024 to 2032

How much is the global healthcare logistics market going to be worth by 2032?

The global healthcare logistics market is estimated to reach USD 192.87  billion by 2032

Which region has the highest market share in the Global Healthcare Logistics market ?

North America Region is expected to dominate the revenue during the forecast period in the Global Healthcare Logistics market.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample