The pharmaceutical logistics market size in the European region is anticipated to grow to USD 39.71 billion by 2027 from USD 26.77 billion in 2022, growing at a CAGR of 8.2% from 2022 to 2027.
The growing demand for over-the-counter drugs across the European region is one of the key factors propelling the pharmaceutical logistics market growth in Europe. The usage of several vitamin tablets that does not require any prescription and do not give any side effects by the European population has seen a spike in recent days. In addition, the usage of painkiller tablets as an OTC drug is high among the population of the UK. The growing consumption of over-the-counter drugs by the European population requires a significant supply of these drugs, which is expected to promote the demand for pharmaceutical logistics to store and supply. The European pharmaceutical logistics market has seen a quick acceleration in terms of growth due to COVID-19. During the pandemic, the need for various drugs and medical supplies increased significantly, leading to pharmaceutical logistics market growth. Europe is one of the regions severely hit by the COVID-19 pandemic.
The growing manufacturing activities from pharmaceutical companies across the European region are predicted to promote the pharmaceutical logistics market in the European region. To meet the growing demand for various drugs, the manufacturers have increased their production activities. In addition, the incidence of chronic and infectious diseases in the European region is growing consistently, which is expected to demand more drug production that requires efficient logistical support to reach the end consumer.
The increasing demand for home healthcare devices and fast-track assistance in the healthcare sector is anticipated to support the pharmaceutical logistics market growth in the European region. In addition, due to growing awareness among people regarding disease prevention, the adoption of home healthcare devices among people is increasing, which promotes the usage of logistical services in this region. These products are sensitive and require efficient transportation facilities, which pharmaceutical logistics services can do. The TranspoTransportationlthcare needs by airway, and waterway is increasing due to long distances and emergency drug needs. In recent years, airways have become more available between different places to reach fast. Healthcare-related products and drugs are also sent through the airway to the regions requiring pharmaceutical logistics services.
However, high costs associated with the transpoTransportationhe ordered quantity is small, which is one of the major factors hampering the growth rate of the European pharmaceutical logistics market. Furthermore, the delivery time issues associated with the transportation of medical goods are another major factor hindering market growth.
This report on the Europe pharmaceutical logistics market has been segmented and sub-segmented into the following categories.
By Type:
By Component:
By Country:
The European region held 34.8% of the global market in 2021, which was the largest among all regions. The increasing need for medical devices and drugs and the growing number of European pharmaceutical logistics centers are propelling the regional market growth. As a result, Europe is also expected to showcase a promising growth rate during the forecast period.
The German pharmaceutical logistics market is anticipated to play the leading role in the European market during the forecast period. Germany is the largest pharmaceutical market in Europe and has a skilled workforce that can help with high production quality. Germany-based logistics provides an additional feature to the logistic services, such as timely delivery of temperature-controlled medicine and high-value products. It also provides a low cost for the trans transportation drugs, which demands the growth of pharmaceutical logistics in Germany. Some reputed companies also provide pharmaceutical warehouses in Germany for storage capacity. It also provides a specialized place for temperature-controlled products.
On the other hand, the UK market is predicted to showcase a healthy CAGR during the forecast period. In the United Kingdom, pharmaceutical logistical companies deliver veterinary drugs and veterinary devices, mainly due to the growing expenditure on pets, increasing incidence of zoonotic diseases, and growing adoption of pets among the European population. The pharmaceutical industry in the UK is playing a vital role in the country's economic growth and is growing considerably due to increasing investments. According to the Office for National Statistics, the United Kingdom's spending on health has increased over the past three years due to an increase in the efficient supply chain system for pharmaceutical products.
KEY MARKET PARTICIPANTS:
DHL Supply Chain, FedEx, Kuehne + Nagel International AG, United Parcel Service, CH Robinson, Eurotranspharma, Centre Specialites Pharmaceutiques, PostNL Pharma & Care, and Trans-o-Flex Schnell-Lieferdienst GmbH are companies playing a major role in the European pharmaceutical logistics market.
Frequently Asked Questions
The UK had the major share of the European pharmaceutical logistics market in 2021.
Yes, we have studied and included the COVID-19 impact on the Europe pharmaceutical logistics market in this report.
Germany has the highest chances to grow at the fastest CAGR in the European market during the forecast period.
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