New York, March 24, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Healthcare Distribution Global Market Report 2023” – https://www.reportlinker.com/p06433293/?utm_source=GNW
, Rochester Drug Cooperative Inc., Henry Schein Inc., Smith Drug Company, FFF Enterprises Inc., Patterson Companies Inc., Mutual Drug, Shanghai Pharmaceutical Group Co. Ltd., Medline Industries LP, PHOENIX Group, CuraScript SD, Dakota Drug Inc., TTK Healthcare, Systems Private Limited, and Alliance Healthcare UK.
The global healthcare distribution market grew from $1007.39 billion in 2022 to $1093.7 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare distribution market is expected to grow to $1516.88 billion in 2027 at a CAGR of 8.5%.
The healthcare distribution market includes revenues earned by entities by providing services such as product rotation, quality and recalls, data analytics, and pricing accuracy.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Healthcare distribution refers to the distribution of supplies to healthcare facilities. It also includes secure and efficient provision of medication to the patients at the precise time and in a cost-effective manner.
North America was the largest region in the healthcare distribution market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the healthcare distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of healthcare distribution markets are pharmaceutical product distribution services, biopharmaceutical product distribution services, and medical device distribution services.Pharmaceutical product distribution services are the distribution of active ingredients and products used for the treatment of diseases and protection of public health.
Pharmaceutical products are intended for human use and are presented in a finished dosage form that is subject to control by pharmaceutical legislation.These products help patients live healthier and better lives.
The various end-users include retail pharmacies, hospital pharmacies, and other end-users.
The rise of the medical device industry is expected to propel the growth of the healthcare distribution market going forward.The medical device industry is comprised of companies that develop, manufacture, and distribute the technologies, devices, diagnostic tests, and health information systems that are transforming health care through earlier disease detection and less invasive procedures.
The medical devices manufactured by the medical device industry are required to be distributed to healthcare facilities, thereby promoting the healthcare distribution market. For instance, in February 2022, according to the India Brand Equity Foundation (IBEF), an India-based government brand equity foundation, the medical device market in India is expected to reach $ 50 billion in 2025, an increase of a 37% CAGR from $10.36 billion in 2020. Therefore, the rise of the medical device industry is driving the growth of the healthcare distribution market.
Technological advancement has emerged as the new trend gaining popularity in the healthcare distribution market.Major companies operating in the healthcare distribution sector are focused on technological advancements to reinforce their position and meet consumer demand.
For instance, in May 2020, Zipline, a US-based start-up providing unmanned aerial vehicles (UAV), launched services for the delivery of personal protective gear and medical equipment using drones in the US.The company is also conducting drone delivery of medicines in Rwanda and intends to launch the service in other African countries.
The development of this advanced technology is another step forward in the healthcare distribution market.
In April 2021, DiethelmKellerSiberHegner (DKSH), a Switzerland-based transportation services company, acquired Bosung and MedWorkz for an undisclosed amount.Through this acquisition, DKSH aimed to drive market consolidation and expand its position in the Asia-Pacific region.
Bosung is a South Korea-based life sciences distributor. Medworkz is a Singapore-based distributor of medical products.
The countries covered in the healthcare distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The healthcare distribution market research report is one of a series of new reports that provides healthcare distribution market statistics, including healthcare distribution industry global market size, regional shares, competitors with a healthcare distribution market share, detailed healthcare distribution market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare distribution industry. This healthcare distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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