In North America, the Pharmaceutical Logistics Market is witnessing steady growth attributed to the rising demand for efficient and secure transportation of pharmaceutical products. Factors such as stringent regulations, the need for temperature-controlled logistics, and the expansion of the healthcare sector contribute to market growth. Moreover, advancements in cold chain logistics and the adoption of automation technologies enhance the efficiency of pharmaceutical supply chains, driving market development.
Strategies for Market Share:
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Technology Adoption:Â Implementing automation, real-time tracking systems, and data analytics empowers players to optimize routes, ensure temperature control, and enhance visibility throughout the supply chain.
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Expansion of Service Offerings:Â Offering a wider range of services, including clinical trial logistics and last-mile delivery solutions, attracts a broader customer base.
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Strategic Acquisitions and Partnerships:Â Merging with complementary businesses or forming partnerships with transportation providers strengthens capabilities and geographic reach.
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Focus on Cold Chain Logistics:Â As the demand for biologics and temperature-sensitive drugs rises, expertise in cold chain logistics becomes a significant differentiator.
Factors Influencing Market Share:
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Cost-Effectiveness:Â Clients prioritize cost-efficient solutions, pushing providers to optimize processes and offer competitive pricing.
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Compliance Expertise:Â Stringent regulations governing pharmaceutical handling necessitate strong compliance expertise from logistics providers.
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Global Reach:Â Pharmaceutical companies with extensive global operations require logistics partners with robust international networks.
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Track Record and Reputation:Â A proven track record of successful pharmaceutical logistics projects and a strong reputation for reliability are crucial for attracting new clients.
Key Companies in the North America Pharmaceutical Logistics market include
- Deutsche Post DHL
- FedEx
- Kuehne + Nagel International AG
- United Parcel Service Inc.
- H. Robinson Worldwide Inc.
- CEVA Logistics
- DB Schenker
- Agility Logistics
- Air Canada
- VersaCold Logistics Services
- Expeditors International of Washington Inc.
- Penske Truck Leasing Co. LP
Industry NewsÂ
January 2022:Â Cardinal Health, an American international health care services corporation, and Ember Technologies, Inc., a firm that specializes in IT solutions and software development for banks and finance companies, established a partnership to sell the Ember Cube, the world's first self-refrigerated, cloud-based shipping box.
November 2020:Â to supply cutting-edge ultra-low temperature freezer boxes for the transportation of biologics, UPS, a healthcare logistics firm, teamed up with Stirling Ultracold, a developer and producer of a new generation of energy-saving, environmentally friendly ultra-low temperature (ULT) freezers. It increases the cold chain's capacity.
October 2023:
- The FDA issued new guidance on the use of blockchain technology for secure drug traceability in the pharmaceutical supply chain.
November 2023:
- McKesson Corporation announced a $500 million investment in its cold chain logistics infrastructure.
- Cardinal Health and CVS Health Corporation signed a new logistics agreement to improve efficiency in pharmaceutical distribution.
December 2023:
- The U.S. Department of Health and Human Services (HHS) announced a new initiative to strengthen the domestic manufacturing of essential medicines and reduce reliance on foreign suppliers.
- The Canadian government proposed new regulations to improve transparency and oversight in the pharmaceutical supply chain.
January 2024:
- FedEx reported a significant increase in demand for its cold chain logistics services for COVID-19 vaccine distribution.
- Several major pharmaceutical companies announced plans to expand their clinical trial activities in North America.
