Healthcare distribution is defined as the concept of providing different care services such as drugs, diagnostic test and other facilities to the patients. Healthcare system is very essential as it helps people to stay healthy. Healthcare distribution classified into some common types such as Pharmaceutical product distribution, medical device distribution service, and biopharmaceutical distribution services. Today, healthcare industry is using many different technologies & developments to expand healthcare industry and to offer better facilities to the patients.
The increase in prevalence of chronic diseases is the one of the prominent factors expected to boost the global healthcare distribution market growth. For instance, as per the information provided by the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research & Clinical Practice, in September 2019, around 463 million people are suffering from diabetes in 2019 across the globe and the number is expected to reach approximately 578 million by 2030 and approximately 700 million by 2045.
Get Request Sample Report @ https://qualiketresearch.com/request-sample/Healthcare-Distribution-Market/request-sample
Furthermore, increase in geriatric population across the globe as well as the growing preference for value-based healthcare are expected to propel the global healthcare distribution market growth. For instance, as per the information provided by the World Health Organization (WHO), around 703 million persons aged 65 years or over in the world in the year2019. The number of older persons is anticipated to double to 1.5 billion by 2050. Moreover, the increase in investment in research and development activities and the growing launch of new drugs in healthcare industry is expected to contribute the growth of global healthcare distribution market throughout the forecast period. In addition, growing technological advancements along with the subsequent growth in track and trace solutions in the healthcare distribution industry are further accelerating the growth of the market.
Stringent government rules and regulations related to the drug development is the major restraint which may hamper the growth of global healthcare distribution market growth during this forecast period. Further, high cost of drug is expected to hinder the global healthcare distribution market growth.
The Global Healthcare Distribution Market is segmented into type such as Pharmaceutical Product Distribution Services, Medical Device Distribution Services, and Biopharmaceutical Product Distribution Services. The Pharmaceutical product distribution service segment dominated the global healthcare distribution market, due to the increase in demand for OTC and generic drugs from patients as well as the increase in expenditure on pharmaceutical research and development activities will positively influence the segment growth. Also, growing production of pharmaceutical formulations, and outsourcing of pharmaceutical manufacturing to Asian countries is further boosting the segment growth.
On the basis of end user market is segmented into Retail Pharmacies, Hospital Pharmacies, and Others. Retail pharmacies dominated the market growth due to the implementation of programs to guarantee accessible healthcare for people in the developed countries including United States, which subsequently increases the quantity of prescription. The retail pharmacies deal with large volume of prescriptions daily, which expected to support the growth of the segment.
The Global Healthcare Distribution Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North America region dominated the healthcare distribution market due to its strong foothold in healthcare sector as well as rapid adoption of new & advanced technologies in the market. The market is also anticipated to maintain its dominance throughout the forecast period, owing to its continuous involvement and development in healthcare industry.
Moreover, the Asia Pacific market is estimated to grow at the highest CAGR over the forecast period due to the increasing regulatory requirements in the healthcare industries of several APAC countries to maintain compliance with good manufacturing & distribution practices and the growing number of pharmaceutical & biotechnology companies in this region. China & India are the fastest-growing markets in the region majorly due to the expanding pharmaceutical industries in these countries and the implementation of stringent regulations to improve the quality & reliability of pharmaceutical drugs.
Key Players Analysis
The prominent players operating in the global healthcare distribution market are Cardinal Health, AmerisourceBergen Corporation, McKesson Corporation, Owens & Minor, Inc., KeySource Medical, Inc., Morris and Dickson Co., LLC, Rochester Drug Cooperative, Inc., Smith Drug Company, Henry Schein Inc., Patterson Companies Inc., etc. Some of the key developments in the healthcare industry which is expected to boost the global healthcare distribution market growth. For instance, in May 2019, McKesson has renovated its CVS Health allocation contract by 2023. The aim of this renovation is to reinforce its market position, the company focuses on innovation in current goods & solutions. Furthermore, in April 2019, Cardinal Health partnered with PANTHERx Specialty Pharmacy, USA to strengthen its cell & gene therapy facilities by co-ordinated distributed suite of specialty facilities, third-party logistics service, and specialty pharmacy delivery services.
- Pharmaceutical Product Distribution Services
- Medical Device Distribution Services
- Biopharmaceutical Product Distribution Services
By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Browse full Report Analysis @ https://qualiketresearch.com/reports-details/Healthcare-Distribution-Market
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which help our clients outperform their competition.
Research Support Specialist
6060 N Central Expy #500, TX 75204, U.S.A