Report: healthcare logistics market on track for growth through 2021

The global healthcare logistics market will grow at a compound annual growth rate (CAGR) of 3.58 percent through 2021 as it deploys new technology to offer expanded supply chain services, a report released Tuesday says.

Providers are making "huge" investments in technologies, such as information technology (IT) solutions, that will help them streamline the logistics services they provide and capture a tremendous potential for growth, according to the Pune, India-based market research firm ReportsnReports. The report calculated market size by measuring the revenue generated by different vendors through the sales of healthcare logistics services for generic drugs and branded drugs; the free version of the report did not provide specific figures.

Researchers found that healthcare logistics providers are leveraging their recent investments in IT to offer expanded suites of end-to-end integrated services, according to the report, "Global Healthcare Logistics Market 2017-2021."

Logistics service providers (LSPs) in this sector now offer services such as:

• integrated cold chain services via road, air, rail, and ocean transportation and warehousing.
• decision-making process support.
• cold chain management services including inventory management, order scheduling, order forecasting, warehousing, and delivery management.

The top five players in the global healthcare logistics market are: DB Schenker, Deutsche Post DHL, Kuehne & Nagel, CEVA Holdings, and FedEx Corp., the report said. ReportsnReports found that other prominent vendors in the market are: Agility, Air Canada Cargo, Biocair, Biotec Services International, Cold Chain Technologies, Continental Cargo, CSafe, Helapet, Igloo Thermo-Logistics, LifeConEx, Marken, Nordic Cold Storage, Panalpina World Transport (Holding), VersaCold Logistics Services, and World Courier Management.