Pharmaceutical distributors are at the heart of the United States health care ecosystem. Distributors handle foremost chunk of pharmaceutical sales and add efficiency and order to a supply chain that links highly fragmented markets, i.e., producers and points of dispensation.
Distributors do much more than attend as the intermediary that ships products from producers to pharmacies and providers. Distributors buy and take legal ownership of pharmaceuticals and manage both inventory and credit risk; this enables manufacturers to aim on their core competencies of pharmaceutical drug development and manufacturing. Distributors intensify value in the health care ecosystem by conveying the aggregation efficiencies and economies of scale that decrease capital and functioning expenses for the larger pharmaceutical value chain.
According to the report analysis, ‘Healthcare Distribution Market: Current Analysis and Forecast (2021-2027)’ states that distributors play a critical role in assisting the patient safety, enabling the accurate product to reach the right patient in a timely and transparent manner, entailing the processing over 200 recall events per year. Emerging and converging market trends are affecting and reshaping distributors’ traditional role of health care intermediary. These trends are delivering both opportunities and challenges; in response, distributors are evolving and acclimatizing to confirm that their services deliver added value today and during the future.
Based on Type, the Healthcare Distribution Market is classified into Pharmaceutical Product Distribution Services, Biopharmaceutical Product Distribution Services, and Medical Device Distribution Services. Amongst Type, the Pharmaceutical Product Distribution Services sector of the market was valued at USD XX billion during 2020 and is probable to reach USD XX billion by 2027 augmenting at a CAGR of XX% from 2021-2027. Based on End-User, the Healthcare Distribution Market is classified into Retail Pharmacies, Hospital Pharmacies and Others. Retail Pharmacies segment registered for a market valuation of USD XX billion during 2020 and is anticipated to reach USD XX billion by the year 2027, at a CAGR of XX% over the analysed duration.
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The growth of this market is primarily propelled by the growing incidence of chronic diseases, augmenting importance of generics, increasing adoption of track & trace solutions, and the growth of the medical device industry. In addition, emerging markets such as China and India, growth in the biosimilars market, growing specialty drug dispensing, and developing uptake of biopharmaceuticals are predicted to propose the potential growth opportunities to market players during the forthcoming years. However, the growing pricing pressure on market players is a foremost factor that is projected to impact market growth during the coming years.
Growth in the research and development investment in new drug development is the vital aspect escalating the market growth, also growth in the growth of medical devices industry, augment in the importance of generics, great incidence and large economic burden of chronic diseases and augment in the growth of the medical devices industry are the foremost factors among others propelling the healthcare distribution market.
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Ankur Gupta, Head Marketing & Communications