One of the leading consulting, data analytics, and market research firm, Markntel Advisors, published a recent report titled, “GCC Pharmaceutical Logistics Market Research Report: Forecast (2023-2028)”. The market is predicted to grow significantly in the coming years. The prominent factors that facilitate industry expansion are the rising prevalence of chronic diseases like cancer, diabetes, heart issues, and kidney disorders across the region. The major countries like Saudi Arabia, the UAE, Kuwait, etc., with a large population, witnessed a huge upsurge in chronic disease patients.
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What is the Yearly Growth Rate of the GCC Pharmaceutical Logistics Industry?
The GCC Pharmaceutical Logistics Market is likely to grow at a CAGR of around 7% during the forecast period, i.e., 2023-28. The growth of the market is likely to be driven primarily by the rising inclination towards biological drugs and the increasing prevalence of chronic diseases across GCC countries.
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Who are the Main Competitors Driving the GCC Pharmaceutical Logistics Market Forward?
Major companies operating in the industry are Kuehne+Nagel Middle East, Aramex, Agility, Emirates SkyCargo, Qafila, RHS Logistics, Nawara Transportation Freight Co., Kerry Logistics Middle East L.L.C., Yusen Logistics (Middle East) L.L.C., Mosanada Logistics Services, Oriental Commercial and Shipping Co. Ltd., and Others
What is the Segmentation of the GCC Pharmaceutical Logistics Market?
The GCC Pharmaceutical Logistics market covered in this report is segmented –
- By Mode of Transport: Air, Road, Sea
- By Product Type: General Drugs Medicines, Surgical Goods Medical Devices, Chemical Pharma Products, and Bio-Pharma Specialized Pharma Products
- By Service Type: Transportation Freight Forwarding, Warehousing, Cross-Docking, Value Added Services (Inventory management, Packaging, Labelling, etc.), and Others (Customs Brokerage, Marketing, Call Support)
- By Storage Type: Refrigerated, Ultra-frozen (Less than 0°C), Chilled (1°C - 10°C), Air-conditioned (Above 11°C), and Ambient
- By End-User: Hospitals, Laboratories, Pharmaceutical companies, and Others
- By Logistics Provider Type: 3PL (Third-Party), 4PL (Fourth-Party), and Integrated Logistics
Which Country Acquired Largest Share of the Pharmaceutical Logistics Market?
Saudi Arabia has uplifted the largest share of the GCC pharmaceutical logistics industry in the previous few years. The regions covered in the marker report are UAE, Saudi Arabia, Qatar, Oman, Bahrain, and Kuwait. This is owing to the rapid rise in the geriatric population of the country and burgeoning instances of chronic diseases like cancer, hypertension, diabetes, cardiovascular, among others.
What is the Pharmaceutical Logistics Industry Definition?
The pharmaceutical industry utilizes logistics services for the overall administration of pharma products, viz., from where they are acquired, stored, moved. It enables the constant supply of drugs, medicines, healthcare equipment devices from manufacturers distributors across different locations. Furthermore, pharmaceutical logistics differ from other logistics chains given the complexity, products, costs involved.
Frequently Asked Questions (FAQs)-
- What is the expected CAGR value of the GCC Pharmaceutical Logistics Market during the forecast period?
- What are the trends influencing the current scenario of the GCC Pharmaceutical Logistics market?
- What key factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography GCC Pharmaceutical Logistics adoption?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
- Which is the Leading end user segment in the GCC Pharmaceutical Logistics market?
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