Precedence Research recently published a report titled “Healthcare Distribution Market – Global Industry Analysis, Size, Share, Trends, Growth, Regional Outlook, and Forecast 2021-2030”
The global healthcare distribution market size is projected to hit USD 1,380 billion by 2030 and is anticipated to grow with a healthy CAGR of 7.8% over the forecast period 2021-2030.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.
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Distribution in a vital part of the healthcare industry supply chain. It embodies all wholesalers and distributors of health care products. This can comprise of companies anywhere from wholesalers of equipment to the pharmacies. The rise in production of medical equipment and drugs has resulted in the growth of distribution industry. With a strong distribution business, equipment and drug companies can effectively supply their commodities to multiple hospitals and other health care organizations.
Healthcare distributors procure pharmaceutical products from producers and distribute them to an assortment of customers, comprising of long-term care facilities, hospitals, and retail and other pharmacies among others. Some of the wholesalers sell to an extensive range of potential customers while others focus on sales of specific products (e.g., biologics) or sales to certain types of clients (e.g., pediatric clinics).
Factors such as rising incidence of chronic diseases and rapid progress of medical devices industry are driving the growth of healthcare distribution market. The frequency of chronic diseases has risen quickly in past few years due to increasing geriatric population globally. As per the WHO data, the prevalence of chronic disease will surge to 57% by 2021. This growth is expected to be the most substantial in the developing nations. A suitable healthcare distribution structure is therefore essential around the world, and has become a requirement. A synchronized and robust healthcare response is essential in every part of the world. Chronic diseases are some of the most rampant and expensive health conditions in the United States. Approximately half of all American people suffer from a minimum of one chronic ailment, and the count is growing. Internationally, almost one in three of all grownups suffer from multiple chronic conditions (MCCs) which are among the largest reason of the demise in the world.
The medical device business is poised for firm growth, with worldwide annual sales prediction to rise by over 5% a year and reach nearly US$800 billion by 2030. These estimates reflect growing demand for innovative new devices (like wearables) and services (like health data). This is majorly due to increasing prevalence of lifestyle diseases and high economic growth in emerging markets – particularly China and India.
|Market Size||USD 1,380 Billion by 2030|
|Growth Rate||CAGR of 7.8% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End-Users|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, Latin America|
- Among the product type segment, pharmaceuticals are expected to dominate the overall market. Formation of new industrial facilitates by global pharmaceutical companies in new geographies, growing expenditure on pharmaceutical research and development activities, rising production of pharmaceutical preparations, and outsourcing of pharmaceutical manufacturing to the Asian nations is supporting the sector growth. Biopharmaceuticals are expected to advance at a significant CAGR in the estimate timeframe majorly due to increasing applications.
- The retail pharmacies accounted for the largest revenue in the end user segment with more than 52.5% share in 2020. Implementation of programs to guarantee accessible health care for people in the US and other developed countries which subsequently increase the quantity of prescription is the major factor responsible for high market share of retail pharmacies.
- McKesson Corporation accounted for the highest share of over 16% of the global healthcare distribution market.
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 38.5%. U.S. accounted for the highest share in North America majorly due to the presence of major companies and early launch of latest products. Pharmaceutical distributors form the core of the healthcare ecosystem in North America. These distributors take care of around 92% of medical sales and add capability and order to a supply chain which links two enormously fragmented markets.
Europe was the second prominent market majorly due to favorable reimbursement scenario and presence of latest healthcare infrastructure. The presence of skilled researchers in the European region is also expected to boost the demand for healthcare distribution market in the near future. Asia Pacific is expected to grow at the highest CAGR of around 9% in the forecast period due to high investment by major market players. Latin America and the Middle East and African region will exhibit perceptible growth.
The healthcare distribution market report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation, and so on.
Some of the key players in the global healthcare distribution market include:
- AmerisourceBergen Corporation
- McKesson Corporation
- Medline Industries
- Cardinal Health, Inc.
- PHOENIX Group
- Shanghai Pharmaceutical Group Co., Ltd.
- Henry Schein Inc.
- Owens & Minor, Inc.
- Medline Industries
- Rochester Drug Cooperative, Inc.
Key Market Developments:
In January 2020, Alliance Healthcare came up a new online service that delivers its customers with an easy approach to access its arrangements and order healthcare products online.
Major Market Segments Covered:
By Product Type
- Medical Device
By End User
- Hospital Pharmacies
- Retail Pharmacies
- Other End Users
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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