Healthcare distribution Market Is Estimated To Witness High Growth Owing To Increasing Healthcare Expenditure

The healthcare distribution market is estimated to be valued at US$ 1050.2 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Key Market Dynamics:

The healthcare delivery market is primarily driven by increasing healthcare costs across the world. Increased disposable income allows greater access to healthcare facilities and goods according to the World Bank Global healthcare spending increased from US$7.8 trillion in 2017 to US$9.5 trillion in 2020, a CAGR of 7.3%. Additionally, the COVID-19 pandemic it also increases health care spending. This is because the government uses additional funds to upgrade healthcare infrastructure.

In addition, the increase in the elderly population who are prone to chronic diseases also contributes to the market growth. According to United Nations estimates, between 2015 and 2050 the world population aged 60 years and older is expected to double by 12% to 22%.

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Key Market Trends:

Decentralized delivery models and inventory management are some of the key trends seen in the healthcare delivery market. Healthcare distribution has traditionally been concentrated in a few large warehouses.

However, with advances in transportation and logistics, Decentralization through regional centers has therefore received attention. This decentralized model allows for shorter delivery times and guaranteed inventory availability.

In addition, it implements advanced inventory management technologies such as RFID and blockchain for product traceability. Stock Tracking and performance evaluation still popular in the market.

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Healthcare Distribution Market Opportunities

By Type Insights

The pharmaceutical distribution segment accounted for the largest revenue share of over 50% in 2019. This can be attributed to the wide availability of pharmaceutical drugs across all healthcare facilities. The biomedical devices distribution segment is expected to witness the fastest growth over the forecast period owing to the increasing demand for advanced medical devices across hospitals and diagnostic centers.

By End User Insights

The hospital pharmacy segment held the largest market share in 2019 as hospitals are the primary point of care and majority of drugs are distributed through hospital pharmacies. However, the retail pharmacy and clinic segment is anticipated to grow at the fastest pace during the forecast period. This can be attributed to the increasing number of retail pharmacies and clinics.

Key Market Takeaways

The global healthcare distribution market size was valued at USD 1050.2 Billion in 2024 and is projected to expand at a CAGR of 6.5% during the forecast period 2024-2031. The market is driven by the increasing demand for pharmaceutical drugs and medical supplies across various end-use facilities.

On the basis of type, the pharmaceutical distribution segment accounted for over 50% of the market share in 2024 due to wide availability of drugs. Within this segment, branded drugs distribution dominated the market.

Based on end user, the hospital pharmacy segment held the largest share in 2024. However, the retail pharmacy and clinic segment is expected to witness fastest growth during the forecast years owing rising number of retail pharmacies and clinics globally.

Regionally, North America dominated the global market in 2024 led by the US due to established healthcare infrastructure and presence of leading distributors.

Competitor Insights:

Dakota Drug

Mutual Drug Company

Consorta Inc

Recent Developments in Healthcare distribution Market

Key Investments: Cardinal Health began construction of a new logistic center in ohio in 2024 to support the distribution of over the counter healthcare products.

Eli Lilly launched ‘Lillly Direct’ in early 2024, a digital healthcare plateform targeting consumers with diabetes, migrane and obesity.

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.