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Report
China Pharmaceutical Warehousing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The China Pharmaceutical Warehousing Market size is estimated at USD 13.25 billion in 2024, and is expected to reach USD 19.62 billion by 2029, growing at a CAGR of 8.16% during the forecast period (2024-2029).
The market is seeing the emergence of new technologies such as the Internet of Things (IoT), blockchain, and data analytics to improve visibility, traceability, and overall supply chain performance.
Pharmaceutical warehousing in China is vital to China's rapidly expanding healthcare and pharmaceutical industry. As the country's healthcare market continues to grow and pharmaceutical demand continues to grow, the need for efficient warehousing, distribution, and supply chain management has become increasingly important.
China's rapidly expanding healthcare sector paved the way for China's transformation from a pharmaceutical manufacturing base into a strategic research and development (R&D) center. As a result of this transformation, China established itself as a key player in the international pharmaceutical market, not only as a consumer market but also as a platform for advancing R&D.
The market's development is dependent on several factors, including an increase in the outsourcing of pharmaceutical warehousing and a heightened emphasis on product sensitivity and quality in the pharmaceutical industry. It also includes automation in warehouses to improve productivity and accuracy.
In June 2023, the FDA was planning to let online pharmacies sell prescription drugs, which could open up the market for e-commerce platforms like Alibaba and JD. There's been talk of a new policy since the middle of last year, and if it's approved, it could open up a huge market worth over CNY 1 trillion (about USD 161 billion) as sales move away from hospitals and online pharmacies. It could also help reform a market that's been dominated by state-run hospitals and distributors.
China Pharmaceutical Warehousing Market Trends
Increase In Population is driving the market
In 2022, China had a population of over 1.43 billion. The healthcare sector in China is one of the biggest and fastest-growing industries in China. The increasing demand for high-quality healthcare and services led to rapid growth in various healthcare sectors. Improving health outcomes is one of the top priorities of the Chinese government for many years. The government currently needs to address major challenges, including an aging population and uneven access to healthcare across different regions. To address these challenges, the government will need to invest heavily in expanding and enhancing healthcare resources and capacities. It presents huge growth opportunities for domestic and foreign companies.
The policy programs outlined in China's 14th Five-Year Plan and the Healthy China 2030 initiative both emphasize the significance of healthcare reforms, including the reduction of inequalities in insurance coverage ranges and the enhancement of public services. Reform initiatives within the industry also focus on expanding access to medicinal products, making them more accessible. It provided silver economy products to meet the needs of China's aging population.
China is the world's second-largest medical device market after the United States. Over the next decade, China's government will continue to expand healthcare budgets as the country's aging and growing population strains healthcare systems and infrastructure. These are the main reasons for the growth of the warehousing market.
Technological Advancement is driving the market
Artificial intelligence and the Internet of Things (IoT) are enabling automated cold chain technologies to progressively become more intelligent and automated. For instance, IoT sensors can be used to monitor and track food in real-time, thus enhancing quality and safety. Cold supply chain management is undergoing a period of rapid growth due to the emergence of intelligent, information-driven, and digitized technologies. The Internet of Things (IoT) and big data analysis are both contributing to the improvement of cold chain logistics efficiency and quality. An example of this is the establishment of a smart cold supply chain management (CSCM) platform for a leading Chinese food enterprise (Jingdong Logistics) in 2022.
This platform enabled the Chinese food enterprise to effectively monitor its products from start to finish and allocate delivery vehicles accordingly. Additionally, automation is being employed in the supply of fresh food, medicinal products, and express delivery services. For instance, the leading Chinese unmanned instant delivery platform, Dada Group (Dada Group), launched its unmanned delivery Open Platform (Dada) in 2021. This platform utilizes unmanned vehicles to facilitate the logistics services of supermarkets to consumers.
China Pharmaceutical Warehousing Industry Overview
China's pharmaceutical warehousing market is one of the most competitive and fastest-growing in the world. It is due to the country's growing healthcare sector, growing pharmaceutical manufacturing, and changing distribution strategies. As the pharmaceutical industry in China continues to grow, companies that can provide seamless warehousing, effective distribution, and cutting-edge solutions will gain a competitive advantage in this highly competitive market. The market is highly fragmented, with many local and International players operating in the market, such as Sinopharm Logistics, DHL, CJ Rokin Logistics, etc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview (Current Market Scenario of Market and Economy)
4.2 Government Regulations and Initiatives
4.3 Technological Trends
4.4 Impact of Covid-19 on the market
4.5 Market Dynamics
4.5.1 Market Drivers
4.5.1.1 Rapidly Expanding Pharmaceutical Industry
4.5.1.2 Population Growth is one of the main drivers for the warehousing market
4.5.2 Market Restraints/ Challenges
4.5.2.1 Supply Chain Disruptions
4.5.2.2 Temperature Controlled and Cold Chain Management
4.5.3 Market Opportunities
4.5.3.1 Technological Innovations
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Powers of Buyers/Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 BY Type
5.1.1 Cold Chain Warehouse
5.1.2 Non-Cold Chain Warehouse
5.2 By Application
5.2.1 Pharmaceutical Factory
5.2.2 Pharmacy
5.2.3 Hospital
5.2.4 Others
6 COMPETITIVE LANDSCAPE
7 Overview (Market Concentration and Major Players)
8 Company Profiles
8.1 Sinopharm Logistics
8.2 SF Express
8.3 Kerry Logistics
8.4 Yunda Holding
8.5 CJ Rokin Logistics
8.6 DHL Supply Chain
8.7 DB Schenker
8.8 Nippon Express
8.9 Yamato Holdings
8.10 CJ Rokin Logistics
8.11 SF Express
8.12 JD Logistics*
9 *List Not Exhaustive
10 MARKET OPPORTUNITIES AND FUTURE OF THE MARKET
11 APPENDIX
12 DISCLAIMER
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