EUROPE PHARMACEUTICAL LOGISTICS MARKET

 

Market Overview:

               Over the course of the forecast period, the European pharmaceutical logistics market is anticipated to grow at a rate of over 4%. The pharmaceutical industry's rising need for blood products, vaccines, and cell therapies is propelling the expansion of the European pharmaceutical logistics sector. The COVID-19 pandemic and rising investments by top pharmaceutical companies are mostly to blame for the rise in medicine and vaccine demand that is fueling the demand for pharmaceutical logistics in Europe.

             Logistics are needed in the pharmaceutical industry to manage all aspects of resource acquisition, storage, and delivery to end customers. The same goal is being pursued in Europe by the European Association for Logistics and Transportation in Healthcare (EALTH). The pharmaceutical logistics industry's largest regional market is in Europe. The substantial market share of the region can be attributed to the significant expansion of commerce in pharmaceutical products among important European nations. One of the main forces behind pharmaceutical logistics is the rising significance of fast-track assistance in the healthcare industry.


Key Market Trends:

         The pharmaceutical sector is primarily concentrated in Europe. The European Federation of Pharmaceutical Industries and Association is the umbrella organisation for many of Europe's pharmaceutical companies (EFPIA). It currently consists of 39 of the top pharmaceutical corporations in Europe, as well as 36 national pharmaceutical organisations. The production value of EFPIA members was anticipated to be around EUR 310 billion in 2020. Additionally, the continent's significance as a significant exporter of pharmaceutical items was highlighted by the trade balance, which was positive by EUR 155 billion. The pharmaceutical logistics business is expanding as a result of rising chronic disease rates and population increase. More than 33% of the world's factories are located in Western Europe.

        Temperature-controlled transportation and warehousing are necessary due to the development of sophisticated biologically based medications as well as the shipping of hormone treatments, vaccinations, and complex proteins that necessitate cold chain modifications. The demand for efficient cold chain logistics services to maintain the quality of goods also contributes to the market's expansion. The European Commission (EC) released its proposed pharmaceutical strategy for public comment in June 2020 in an effort to ensure that Europe has access to safe and affordable medications to meet patient needs and to support the European pharmaceutical industry's continued status as a global innovator.

            

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