GCC Pharmaceutical Logistics Market Expected to Surge with a CAGR...

GCC Pharmaceutical Logistics Market Expected to Surge with a CAGR of 7% by 2028

Posted 2024-09-10 10:08:39

According to MarkNtel Advisors, the GCC Pharmaceutical Logistics Market size is expecting around 7% CAGR during 2023-28. The high prevalence of chronic diseases & increase in the target patient population, leading to the surging consumption of pharmaceutical products, is driving the GCC Pharmaceutical Logistics Market through 2028. Besides, the rapidly increasing pharma manufacturers across various GCC countries and the surging production of biologics, vaccines, hormone medications, & temperature-specific bio-products that require refrigerated storage & shipment are also projected to boost the market over the forecast years.

The pharmaceutical industry in the GCC region is still in its early phase due to various obstructions. Most medications used in the GCC region are of foreign origin. In order to boost local manufacturing of medicines, governments of GCC countries have been advocating joint ventures & license agreements with international pharma manufacturers, owing to which, the need for pharma logistics has significantly increased across the gulf region, further states the research report, “GCC Pharmaceutical Logistics Market Analysis, 2023.”

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GCC Pharmaceutical Logistics Market Segmentation Analysis:

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).

Refrigerated Storage to Observe the Highest growing Demand through 2028

In order to sustain product integrity, most pharmaceutical products like bio-products, surgical goods, & vaccines require refrigerated storage throughout their handling & transportation. Additionally, certain drugs, medicines, vaccines, stem cells, etc., are needed to be stored in extremely cold temperatures, which could range from 0°C to even -80°C. Here comes the role of Ultra-frozen (Less than 0°C) Refrigerated storage, which acquired a notable market share in the previous few years. Hence, with these aspects, the need for refrigerated storage is likely to be significantly high during 2023-28.

With Various Initiatives to Boost Local Pharma Manufacturing, Saudi Arabia held the Largest Market Share

Pharmaceutical manufacturers in Saudi Arabia are actively working on enhancing their production capacities owing to the mounting demand for pharma products on account of the surging cases of chronic diseases across the country. It, in turn, is contributing to the significant growth of the pharmaceutical logistics market in Saudi Arabia.

Moreover, several initiatives like Saudi Vision 2030, National Transformation Program (NTP), etc., taken by the Saudi government to promote domestic pharma manufacturing in order to reduce the dependency on imported pharma products like medicinal drugs, vaccines, generic medicines, etc., and enhance pharma exports, are also driving the pharmaceutical logistics market in Saudi Arabia.

Explore the Full Report with Charts, Table of Contents, and List of Figures – https://www.marknteladvisors.com/research-library/gcc-pharmaceutical-logistics-market.html

Competitive Landscape

According to MarkNtel Advisors, the leading players in the GCC Pharmaceutical Logistics Market include 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, and Oriental Commercial & Shipping Co. Ltd.

Key Questions Answered in the Study:

What are the current & future trends in the GCC Pharmaceutical Logistics Market?
How has the industry been evolving in terms of geography & service adoption?
How has the competition been shaping across the GCC region, followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the GCC Pharmaceutical Logistics Market?
What are the customer orientation, purchase behavior, and expectations from pharmaceutical logistics service providers across the GCC region?

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