Pharmaceutical Warehousing Market - 42% of Growth to Originate from APAC, Technavio

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Apr 18, 2024, 19:53 ET

NEW YORK, April 18, 2024 /PRNewswire/ -- The global pharmaceutical warehousing market size is estimated to grow by USD 15751.86 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 4.9% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%.

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Technavio has announced its latest market research report titled Global Pharmaceutical Warehousing Market 2023-2027

APAC is expected to play a pivotal role in propelling the global pharmaceutical warehousing market

Geographic Landscape:

The North American Pharma Warehousing Market is experiencing steady growth, driven by the US market's maturity and increasing development of new pharmaceutical drugs. Hospitals and clinics require Pharma Warehousing Services to store Pharmaceutical Products, particularly those for Cardiovascular Diseases (CVD), due to the rising prevalence and geriatric population. Pharmaceutical manufacturers outsource warehousing operations to ensure Quality and address Product Sensitivity. Warehouse-level Automation enhances Production Capacity and Operations efficiency. Pharma Competence Centers offer specialized services to meet the unique needs of the Pharmaceutical Industry.

Research Analysis

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Market Drivers

The pharmaceutical warehousing market experiences significant growth due to outsourcing needs for storing raw materials and finished goods. Logistics costs decrease by 11%, inventory costs by 6%, and fixed asset costs by 23% for manufacturers. Complexity in supply chain management drives outsourcing of functions to providers. Key benefits include real-time visibility, order accuracy, and dependability. Technology barriers are addressed through advanced inventory management systems, ensuring compliance with high-pressure processing, nonthermal pasteurization, and micro-organism elimination for pharmaceuticals and OTC medications.

Market Overview

The Pharmaceutical Warehousing Market plays a crucial role in the healthcare industry, ensuring the safe and efficient storage and distribution of vital medicines and vaccines. Companies in this market, such as CV Distributors and Harmaceutical, provide essential services in the supply chain, enabling the timely delivery of products to healthcare providers and patients. Pharmaceutical warehouses utilize advanced technologies like automation, temperature control, and inventory management systems to maintain optimal conditions for storing pharmaceuticals. These facilities also adhere to stringent regulations, such as Good Distribution Practices (GDP) and Current Good Manufacturing Practices (CGMP), to ensure product quality and safety. The Pharmaceutical Warehousing Market faces challenges like increasing competition, rising costs, and the need for continuous innovation to meet evolving customer demands. However, the market is expected to grow due to factors like the increasing demand for specialized pharmaceuticals, the expansion of the global healthcare industry, and the ongoing digitization of supply chain processes. In conclusion, the Pharmaceutical Warehousing Market is a vital component of the healthcare industry, providing essential services to ensure the safe and efficient storage, distribution, and delivery of pharmaceuticals to healthcare providers and patients. Companies in this market must continue to innovate and adapt to meet the evolving demands of the industry while maintaining the highest standards of quality and safety.

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Key Topics Covered:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio