LONDON–(BUSINESS WIRE)–Jan 27, 2021–
The new healthcare logistics market in Canada research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Healthcare Logistics Market in Canada 2020-2024 (Graphic: Business Wire)
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"One of the primary growth drivers for this market is the rise in pharmaceutical sales,” says a senior analyst for the industrials sector at Technavio. Manufacturers are increasingly availing the services of logistics service providers with expertise in cold chain logistics for the transportation of pharmaceutical products. As the markets recover, Technavio expects the healthcare logistics market in Canada size to grow by USD 776.57 million during the period 2020-2024.
Healthcare Logistics Market in Canada Segment Highlights for 2020
- The healthcare logistics market in Canada is expected to post a year-over-year growth rate of 5.79%.
- Based on the product, the market saw maximum growth in the pharmaceutical products segment in 2019. The need for temperature-controlled logistics services for domestic transportation of healthcare and pharmaceutical supplies is driving the segment.
- The market growth in this segment will be significant during the forecast period.
- Based on the service, the transportation segment will be faster than the growth of the market in the warehousing segment. The segment is expected to grow substantially during the forecast period than other segments in the market.
- Growth in the import of pharmaceutical products and medical devices and increased government expenditure on logistics infrastructure increases the growth of the segment.
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- The healthcare logistics market in Canada size is expected to accelerate at a CAGR of over 6% during the forecast period.
- The healthcare logistics market in Canada is segmented by product (Medical devices and Pharmaceutical products) and service (Transportation and Warehousing).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Air Canada, AmerisourceBergen Corp., Andlauer Healthcare Group Inc., DHL International GmbH, FedEx Corp., Kuehne + Nagel International AG, Purolator Inc., SCI Group Inc., TFI International Inc., and United Parcel Service Inc.
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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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210127006072/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: PHARMACEUTICAL HEALTH TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Technavio Research
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PUB: 01/27/2021 11:01 PM/DISC: 01/27/2021 11:01 PM