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Europe Pharmaceutical Logistics Market - Growth, Trends, COVID Impact, and Forecasts (2022 - 2027)
The European pharmaceutical logistics market is expected to record a CAGR of more than 4% during the forecast period. Increasing demand for cellular therapies, vaccines, and blood products in the pharmaceutical industry is driving the growth of the European pharmaceutical logistics market.
New York, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Pharmaceutical Logistics Market - Growth, Trends, COVID Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06360561/?utm_source=GNW
The demand for pharmaceutical logistics in Europe is mainly being driven by the increase in demand for drugs and vaccines, fueled by the COVID-19 pandemic and increasing investments by leading pharmaceutical firms.
Logistics is a fundamental section of supply chain management. It permits the pharmaceutical area to lay out consistency as well as effectiveness through the global inventory network market. The drug area selects strategies for complete administration of getting, putting away, and moving the assets to the end-clients according to their necessities. European Association for Logistics and Transportation in Healthcare (EALTH) is one affiliation that means to accomplish a similar in Europe.
Owing to the COVID-19 pandemic, the trade of conventional and over-the-counter (OTC) drugs increased in Europe. Enhancement in the production rate of biologics, hormone medications, vaccines, complex proteins, and temperature-specific byproducts requiring cold chain shipment also witnessed significant growth in the European pharmaceutical logistics market. There is a strong and competitive pharmaceutical industry in Europe. Together with other public and private actors, it serves public health and acts as a driver of job creation, trade, and science.
Key Market Trends
Growing European Pharmaceutical Industry
Europe is the second-biggest biopharmaceuticals market in the world. increasing populace and persistent sicknesses are pushing market development. The reception and openness, accessibility of biopharmaceuticals for the treatment and conclusion of illnesses, and mindfulness connected with medication raised the European market. Western Europe contains over 33% of assembling offices around the world. Biopharma items have high proficiency with wellbeing than different items.
The improvement of complex biological-based medicines and shipment of hormone treatments, vaccines, immunizations, and complex proteins that require cold chain refinements bring about the requirement for temperature-controlled transportation and warehousing. Moreover, an expansion in the requirement for successful virus affix coordinated operations administrations to keep up with the nature of products energizes the development of the market.
In June 2020, the European Commission (EC) launched the public input its proposed pharmaceutical strategy for Europe to ensure Europe’s supply of safe and affordable medicines to meet patients’ needs and support the European pharmaceutical industry to remain an innovator and world leader.
Increase in Pharmaceutical Exports from Germany
Germany is the biggest pharmaceutical market in Europe and the fourth-biggest in the world, as per Germany Trade and Invest (GTAI). The nation is viewed as one of the world’s driving spots for pharmaceutical manufacture, and its highly skilled labor force empowers pharmaceutical organizations to chip away at additional convoluted and demanding goods like biosimilars while keeping up with high production quality.
The absolute German pharmaceutical market facility and pharmacy store segment had become by more than 7% to EUR 49.5 billion of every 2020. Immunizations and diagnostics are additionally remembered for this part. As indicated by an industry report, the sum by counting units, like tablets, sachets, and injections, decreased somewhat (- 0.6 %) to 97.5 billion including units. Every one of the centre and pharmacy store portions saw a 6 to 7% increase in sales. The sum consumed in clinics, then again, diminished by 10%, while deals in the drug store industry stayed unaltered, as per the report. These improvements are connected to the COVID-19 pandemic, as clinic activities have been deferred to account for COVID-19 patients. Certain prescriptions were also less necessary as a result. All of the medication classes with the most volume in the core market saw decreases.
Competitive Landscape
The European pharmaceutical logistics market is highly competitive and fragmented. The European region has the presence of both regional and international market players. With pharmaceutical sales increasing worldwide, the demand for pharmaceutical logistics service providers has also increased in line with increasing sales. The opportunity for logistics service providers is likely to grow rapidly over the coming years. Some of the existing major players in the market include DHL Supply Chain, FedEx, Kuehne + Nagel International AG, United Parcel Service, and CH Robinson. Some of the major domestic players include Eurotranspharma, Centre Specialites Pharmaceutiques, PostNL Pharma & Care, and Trans-o-Flex Schnell-Lieferdienst GmbH.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06360561/?utm_source=GNW
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