PUBLISHER: Inkwood Research | PRODUCT CODE: 1277624
PUBLISHER: Inkwood Research | PRODUCT CODE: 1277624
The Asia-Pacific pharmaceutical supply chain management market is evaluated to register a CAGR of 9.01% during the estimated period of 2023-2032. The market growth of the region is attributable to the rapidly developing pharmaceutical sector in the Asia-Pacific, as well as the increased Internet and mobile device adoption.
The Asia-Pacific pharmaceutical supply chain management market growth assessment constitutes the analysis of India, South Korea, Australia & New Zealand, China, Japan, and Rest of Asia-Pacific. As the region continues to strengthen its foothold in the medical device industry, tremendous growth is expected over the upcoming years. Aligning with this, as per the Ministry of Food and Drug Safety (MFDS), the medical device segment in South Korea has doubled in size since 2010. Furthermore, the high demand for pharmaceuticals in the country is majorly accredited to the surging population as well as the rising incidence of chronic diseases.
Conversely, with the development and adoption of various technologies in South Korea's healthcare industry, including 3D printing technology for cardiovascular devices, the nation has observed a significant surge in demand for highly advanced medical products. As a result, the need for strong pharma supply chain management (SCM), coupled with the increasing demand for drugs, is projected to fuel the Asia-Pacific pharmaceutical supply chain management market growth over the projection period.
Key companies operating in the market are: Manhattan Associates Inc, Cardinal Health Inc, SAP SE, etc.