Market Research Report
Healthcare Distribution Market by Type (Pharmaceutical (Brand-name, Generic, OTC, Vitamins), Medical Device, Biopharmaceutical (Vaccines, Monoclonal Antibodies)), End User (Retail Pharmacies, Hospital Pharmacies) - Global Forecasts to 2024
|Published by||MarketsandMarkets||Product code||863501|
|Published||Content info||133 Pages
Delivery time: 1-2 business days
|Healthcare Distribution Market by Type (Pharmaceutical (Brand-name, Generic, OTC, Vitamins), Medical Device, Biopharmaceutical (Vaccines, Monoclonal Antibodies)), End User (Retail Pharmacies, Hospital Pharmacies) - Global Forecasts to 2024|
|Published: June 7, 2019||Content info: 133 Pages||
"The healthcare distribution market is projected to grow at a CAGR of 6.5% during the forecast period of 2019 to 2024"
The healthcare distribution market is projected to reach USD 1,048.4 billion by 2024 from USD 765.4 billion in 2019, at a CAGR of 6.5%. The growth of this market is primarily driven by the rising incidence of chronic diseases, growing importance of generics, rising adoption of track & trace solutions, and the growth of the medical device industry. In addition, emerging markets such as China and India, growth in the biosimilars market, increasing specialty drug dispensing, and the rising uptake of biopharmaceuticals are expected to offer potential growth opportunities to market players in the coming years. However, increasing pricing pressure is a major challenge faced by market players.
Based on type, the healthcare distribution market is segmented into pharmaceutical product distribution services, medical device distribution services, and biopharmaceutical product distribution services. In 2018, the pharmaceutical product distribution services segment accounted for the largest share of this market owing to the increasing production of pharmaceutical formulations, rising pharmaceutical R&D expenditure, outsourcing of pharmaceutical manufacturing to Asian countries, and the establishment of new manufacturing facilitates by global pharmaceutical giants in newer geographies.
The retail pharmacies segment accounted for the largest share of the market in 2018. These pharmacies deal with a large volume of prescriptions on a daily basis. Moreover, in the US and other developed countries, the implementation of programs to ensure affordable healthcare for citizens has significantly increased the volume of prescriptions in retail pharmacies.
North America accounted for the largest share of the global healthcare distribution market in 2018, followed by Europe. However, the APAC market is estimated to grow at the highest CAGR during the forecast period. This can primarily be attributed to the growing regulatory requirements in the healthcare industries of several APAC countries to maintain compliance with good manufacturing and distribution practices and the rising number of pharmaceutical and biotechnology companies in the region. China and India are the fastest-growing markets in this region primarily due to the expanding pharmaceutical industries in these countries and the implementation of stringent regulations to enhance the quality and reliability of pharmaceutical drugs (as they move from manufacturing to the consumer).
A breakdown of the primary participants referred to for this report is provided below:
The prominent players operating in this market are: McKesson Corporation (US), AmerisourceBergen Corporation (US), Cardinal Health, Inc. (US), Owens & Minor, Inc. (US), Morris and Dickson Co., LLC (US), KeySource Medical, Inc. (US), Rochester Drug Cooperative, Inc. (US), Henry Schein Inc. (US), Smith Drug Company (US), FFF Enterprises (US), Patterson Companies Inc. (US), Mutual Drug (US), Shanghai Pharmaceutical Group Co., Ltd. (China), Medline Industries (US), PHOENIX Group (Germany), and CuraScript SD (US).
This report analyzes the healthcare distribution market and aims at estimating the size and future growth potential of this market as well as its segments. The report also includes an in-depth competitive analysis of the key players operating in this market, along with their company profiles, solution & service offerings, and recent developments.
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater market share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies for strengthening their market presence.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.