NEW YORK, Dec. 15, 2024
NEW YORK, Dec. 15, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The healthcare logistics market in canada size is estimated to grow by USD 2.34 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.15% during the forecast period. Legislative and regulatory changes supporting pharma growth is driving market growth, with a trend towards advent of pharma 4.0 and logistics 4.0. However, shortage of transportation drivers resulting in higher lead time poses a challenge. Key market players include Air Canada, AmerisourceBergen Corp., Andlauer Healthcare Group Inc., C H Robinson Worldwide Inc., Canada Post Corp., Canadian Healthcare Logistics, Cardinal Health, CEVA Logistics S A, DB Schenker, Deutsche Post AG, FedEx Corp., i2i fulfillment, Kuehne Nagel Management AG, Purolator Inc., Rogue Transportation Services Inc., Ryder System Inc., Skelton Truck Lines Inc., TFI International Inc., United Parcel Service Inc., and Williams Pharmalogistics.
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 - 2022
Segment Covered
Type (Non-cold chain and Cold chain), Service (Transportation and Warehousing), Product (Pharmaceutical products and Medical devices), and Geography (North America)
Region Covered
Canada
Key companies profiled
Air Canada, AmerisourceBergen Corp., Andlauer Healthcare Group Inc., C H Robinson Worldwide Inc., Canada Post Corp., Canadian Healthcare Logistics, Cardinal Health, CEVA Logistics S A, DB Schenker, Deutsche Post AG, FedEx Corp., i2i fulfillment, Kuehne Nagel Management AG, Purolator Inc., Rogue Transportation Services Inc., Ryder System Inc., Skelton Truck Lines Inc., TFI International Inc., United Parcel Service Inc., and Williams Pharmalogistics
Key Market Trends Fueling Growth
The Canadian healthcare logistics market is experiencing significant trends in patient epidemiology, storage, procurement, and coordination of healthcare products. The aging population and personalized medicine require increased availability and quality of pharmaceutical products, medical devices, and medical equipment. The market is witnessing in e-commerce, international commerce, and outsourcing operational logistics. Digitalization and digital transformation are crucial for efficient inventory management, reducing costs, and ensuring safety. The warehousing segment is a key investment pocket, with 3PL services offering cost savings through overhead operating costs. Pharmaceutical products, medical devices, and medical equipment categories are major drivers, with expensive healthcare costs leading to increased demand for branded drugs, generic drugs, and new technologies. Raw materials and production facilities are essential for meeting demand, while healthcare facilities and pharmacies rely on just-in-time resupplies of critical medical items like oxygen, platelets, and blood. Healthcare transportation modes include trucks, trains, boats, airplanes, and temperature-controlled trucks, with time-bound deliveries and drones used for critical medical items. The second wave of the pandemic has highlighted the importance of healthcare disparities and the need for cross-border commerce and trade flow to address these issues. The market is characterized by mutual dependence among communities and cultures, with a focus on new technologies and cross-border commerce to improve access to healthcare.
The healthcare industry in Canada is embracing Industry 4.0, integrating advanced technologies to revolutionize logistics and patient care. Technologies such as 3D printing, additive manufacturing, the industrial Internet of Things (IIoT), artificial intelligence (AI), and big data analytics are transforming healthcare facilities. These innovations enable real-time monitoring of patients through sensors and IoT, improving treatment efficiency and accuracy. Additionally, AI and machine learning enhance supply chain management, ensuring timely delivery of medical equipment and supplies. The adoption of Industry 4.0 technologies in healthcare logistics contributes to better patient outcomes and operational excellence.
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This healthcare logistics market in Canada report extensively covers market segmentation by
1.1 Non-cold chain- The non-cold chain segment dominates the healthcare logistics market in Canada, accounting for the largest market share in 2023. This segment primarily caters to the transportation and warehousing of medical devices and generic pharmaceutical products. The pharmaceutical industry is a significant contributor to this segment, supplying non-specialized logistics services directly to hospitals, clinics, retail drugstore chains, and medical supplies wholesalers. The growing demand for pharmaceutical products in Canada, coupled with the expanding healthcare infrastructure and the cost-effectiveness of non-cold chain logistics, are key factors driving the growth of this segment and the healthcare logistics market in Canada during the forecast period.
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The Healthcare Logistics Market in Canada is a critical sector that ensures the timely and efficient delivery of essential healthcare products to various healthcare facilities and patients. Patient epidemiology plays a significant role in determining the demand for healthcare products and logistics services. The market encompasses storage solutions for healthcare products, international commerce, e-commerce, and online purchase platforms. Outsourcing operational logistics, including delivery, freight forwarding, packaging, and order fulfillment, is common to streamline processes and reduce costs. The healthcare system relies on various modes of transportation, such as trucks, trains, boats, airplanes, temperature-controlled trucks, cars, and even second wave deliveries, to transport healthcare products. Mode of transportation selection depends on factors like product sensitivity, delivery timelines, and cost-effectiveness. Temperature-controlled trucks are increasingly popular for transporting pharmaceuticals and biological samples. The logistics market in Canada continues to evolve, adapting to changing consumer preferences and technological advancements.
The Healthcare Logistics Market in Canada is a critical sector that ensures the timely and efficient delivery of healthcare products and services to patients. Patient epidemiology plays a significant role in determining the demand for various healthcare products, including Pharmaceutical Products, Medical Devices, and Medical Equipment. The storage, coordination, procurement, and inventory management of these items are essential for maintaining their availability, quality, and safety. The healthcare logistics market in Canada faces challenges such as costs, waste, congestion, and international commerce. The e-commerce sector and digitalization are transforming the industry, with increased outsourcing of operational logistics, delivery, freight forwarding, and order fulfillment. The aging population, personalized medicine, and new technologies are driving the demand for branded drugs, generic drugs, and health trackers. The healthcare logistics market in Canada is mutually dependent on various communities and cultures, with cross-border commerce and trade flow playing a crucial role. The warehousing segment, including 3PL services, is essential for managing overhead operating costs. The production of raw materials in factories and medical facilities requires efficient healthcare transportation using various modes, including temperature-controlled trucks, cars, trains, boats, and airplanes. The second wave of the pandemic has highlighted the importance of time-bound deliveries for critical medical items such as oxygen, platelets, blood, and kidney-related products for nephrological conditions. Healthcare disparities and investment pockets are areas of focus for improving access to affordable healthcare and reducing healthcare costs.
1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation
7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/
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SOURCE Technavio
