GCC Pharmaceutical Logistics Market Research Report: Forecast (2021-2026)
By Mode of Transport (Route) (Air, Road, Sea), By Product Type (General Drugs & Medicines, Surgical Goods & Medical Devices, Chemical Pharma Products, Bio-Pharma & Specialized Pharma Products), By Ser Read more
By Mode of Transport (Route) (Air, Road, Sea), By Product Type (General Drugs & Medicines, Surgical Goods & Medical Devices, Chemical Pharma Products, Bio-Pharma & Specialized Pharma Products), By Service Type (Transportation & Freight Forwarding, Warehousing, Cross-Docking, Value Added Services (Inventory management, Packaging, Labelling, etc.), 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)], Ambient), By Logistics Provider Type (3PL (Third-Party), 4PL (Fourth-Party), Integrated Logistics), By End-User (Hospitals, Laboratories, Pharmaceutical companies, Others) By Country (UAE, Saudi Arabia, Qatar, Oman, Bahrain), By Competitors (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.)
Pharmaceutical logistics is a specific branch of logistics services that involve proper handling, transportation, and delivery of pharmaceutical products from the manufacturing unit to the desired location.
The “GCC Pharmaceutical Logistics Market” is likely to grow at a CAGR of around 7% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. The market growth primarily attributes to the rising inclination towards biological drugs and the increasing prevalence of chronic diseases. Besides, the surging patient population and the high demand for value-added services, including temperature-controlled and cold-chain storage services, are other significant aspects likely to boost the growth of the Pharmaceutical Logistics Market across GCC nations.
The research report, “GCC Pharmaceutical Logistics Market Analysis, 2021,” depicts a deep-dive market analysis of market statistics, including regional & country-wise market size, market forecast, CAGR & market share of different segments, competitive benchmarking, and key market drivers & restraints.
COVID-19 pandemic Positively Impacted the GCC Pharmaceutical Logistics Market Growth
The outbreak of the COVID-19 pandemic has pushed various pharmaceutical companies to invest massively in the development of effective vaccines and drugs. Also, the rising expenditure on the logistic industry by pharmaceutical industries is to ensure the safety of pharmaceutical products. Moreover, the demand for drugs is rapidly booming in the current health situation to cure the coronavirus disease. Hence, these aspects are very likely to fuel the Pharmaceutical Logistics Market across GCC nations in the forecast period.
Based on the Mode of Transportation or Route, the market segments into Air, Road, and Sea. Of these three, the Road segment attained the highest share in the GCC Pharmaceutical Logistics Market in the previous few years. It is because most transportation activities happen through well-developed road infrastructure. Besides, in the GCC countries, almost all places are easily accessible via road. Hence, it is the most preferred mode of transportation, thereby capturing the significant share of the market, cites MarkNtel Advisors in their research report, “GCC Pharmaceutical Logistics Market Analysis, 2021.”
Refrigerated Segment to Witness Significant Market Growth during the Forecast Period
Based on the Storage Type, the market divides into Refrigerated and Ambient Storage. Out of these, the Refrigerated segment is more likely to witness significant growth in the market during 2021-26. It owes to the rising focus on bio-based products where there are many pre-conditions for the shipment of life science. Most pharmaceutical products, including vaccines, bio-products, and surgical goods, require refrigerated storage throughout handling and transportation to maintain product integrity. Hence, the need for refrigerated storage is significantly high, thereby likely to witness a significant growth rate in the forecast period.
Saudi Arabia to Dominate the GCC Pharmaceutical Logistics Market
Saudi Arabia acquired the largest share in the GCC Pharmaceutical Logistics Market in the past few years owing to the flourishing economic conditions. The surge in the Saudi Arabian Government’s initiatives to reduce its dependence on the oil sector, increasing investments for its Vision 2030 plan, and enforcement of economic policies to support the pharma sector are the prime factors that have boosted the market growth in Saudi Arabia. Additionally, the surging development of road infrastructure and other related facilities resulting in enhancing the capacity of ports is another crucial aspect driving the GCC Pharmaceutical Logistics Market in Saudi Arabia.
Burgeoning Population to Augment the Demand for Pharma Products
GCC is one of the fastest-growing population regions, thereby likely to witness the booming demand for healthcare services and pharmaceutical products. It owes to the burgeoning need for treating lifestyle diseases and illnesses, thereby indicating the requirement to accelerate the growth of the pharmaceutical logistics market.
Lack of Real-Time Transparency and Reliability
Pharmaceutical products require precise conditions and on-time delivery to ensure their safety, thereby retaining their actual properties. Pharmaceutical logistics is one of the most expensive and fragile logistics markets. Hence, transparency and reliability are some of the biggest ongoing challenges for the pharmaceutical logistics industry. However, the adoption of advanced technologies and systems in the industry could help resolve this problem to a certain extent.
According to MarkNtel Advisors, the major leading players in the GCC Pharmaceutical Logistics market 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.
Key Questions Answered in the Market Research Report:
What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the GCC Pharmaceutical Logistics Market?
What are the region-wise industry size, growth drivers, and challenges?
What are the key innovations, opportunities, current & future trends, and regulations in the GCC Pharmaceutical Logistics Market?
Who are the key competitors, their key strengths & weaknesses, and how they perform in the GCC Pharmaceutical Logistics Market based on a competitive benchmarking matrix?
What are the key results derived from the market surveys conducted during the GCC Pharmaceutical Logistics Market study?
Market Outlook, Segmentation, and Statistics
Impact of COVID-19 on GCC Pharmaceutical Logistics Market
Market Size & Analysis
Market Share & Analysis
By Mode of Transport (Route)
By Product Type
General Drugs & Medicines
Surgical Goods & Medical Devices
Chemical Pharma Products
Bio-Pharma & Specialized Pharma Products
By Service Type
Transportation & Freight Forwarding
Value Added Services (Inventory management, Packaging, Labelling, etc.)
A. The GCC Pharmaceutical Logistics Market is forecast to grow at a CAGR of around 7% during 2021-26.
A. 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. are a few of the leading players in the GCC Pharmaceutical Logistics Market.
A. The Road segment is most likely to attain the highest CAGR and maintain its significant market share during the forecast period.
A. The rising consumption of pharmaceutical products and the rapidly surging need for medical equipment & devices are the major factors fueling the market growth.
A. The widespread pandemic has pushed the GCC Pharmaceutical Logistics market into action, owing to the surging demand for drugs to cure the disease across the GCC nations, thereby likely to propel the overall market growth in the forecast period.
Impact of COVID-19 on GCC Pharmaceutical Logistics Market
Impact of IoT on GCC Pharmaceutical Logistics Market