Healthcare Distribution Has Huge Potential In the Growth of the Medical Device Industry. North America to Witness the Highest Growth.
- Vikas Kumar
- February 17, 2022
- HEALTHCARE, NEWS
- Healthcare Distribution market Growth, Healthcare Distribution market news, Healthcare Distribution market Share, Healthcare Distribution market size, Healthcare Distribution market Trend
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Healthcare Distribution market is expected to exceed the market valuation of more than US$ ~1,300 billion by 2027 expanding at a reasonable CAGR of around ~7% during the forecast period (2021-2027). The industry shift from volume to value-based reimbursement is driven by the scope and dynamics of healthcare economics. Recent and projected data suggests continued financial pressure on organizations. National Spending at the macro level, health expenditures continue to rise at north of inflation, coming in at 4.6% in 2018 according to CMS. Through September 2019 total health spending increased 4.9% year over year. Looking ahead, CMS projects compound annual growth of 5.5% through 2027 to reach almost 20% of GDP. Spending was up across the board, but highest in prescription drugs at 8%. Vizient says organizations should plan for another 4.6% rise in 2020. Behavioral health is also growing, with 20% of Americans said to be afflicted with behavioral disorders and costs 75% higher for those exhibiting both behavioral and physical conditions. The call to “bend the cost curve” has led to multiple enacted and proposed regulatory changes that could reduce federal payments to hospitals by more than $250 billion.
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The growth of this market is primarily driven by the rising incidence of chronic diseases, growing importance of generics, rising 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, increasing specialty drug dispensing, and increasing uptake of biopharmaceuticals are expected to offer potential growth opportunities to market players in the coming years. However, the increasing pricing pressure on market players is a major factor that is expected to impact market growth in the coming years. Healthcare distribution is defined as a concept of providing different care services like drugs, diagnostic test and other facilities to the patients. Healthcare system is very useful as it help people to stay healthy. Pharmaceutical product distribution, medical device distribution service, biopharmaceutical distribution service are some of the common types of the healthcare distribution. Healthcare industry is using many different technologies and developments to expand healthcare industry and to provide better facilities to the patients.
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The COVID-19 pandemic is challenging health systems across the world. Rapidly increasing demand for care of people with COVID-19 is compounded by fear, misinformation and limitations on the movement of people and supplies that disrupt the delivery of frontline health care for all people. When health systems are overwhelmed and people fail to access needed services, both direct mortality and indirect mortality from preventable and treatable conditions increase. Decision-makers will need to make difficult choices to ensure that COVID-19 and other urgent, ongoing public health problems are addressed while minimizing risks to health workers and communities. As established at the 2018 Astana Global Conference on Primary Health Care, the community level is an integral platform for primary health care, key to the delivery of services and essential public health functions, and to the engagement and empowerment of communities in relation to their health. This community-based platform, with its distinct capacities for health care delivery and social engagement, has a critical role to play in the response to COVID-19 and is essential to meeting people’s ongoing health needs, especially those of the most vulnerable.
Based on Type, the Healthcare Distribution Market is segmented into Pharmaceutical Product Distribution Services, Biopharmaceutical Product Distribution Services, and Medical Device Distribution Services. Healthcare distributors are the backbone of the healthcare ecosystem, serving as the vital link connecting approximately 1,500 pharmaceutical manufacturers to more than 180,000 individual pharmacies, hospitals, healthcare facilities and other sites of care in the United States.
Based on End-User, the Healthcare Distribution Market is segmented into Retail Pharmacies, Hospital Pharmacies and Other End Users. Pharmacies are where most patients receive prescription drugs and, increasingly, vaccines. Retail pharmacists advise patients on their medication regimens and help them avoid drug interactions and screen for possible side effects to medications. Over the past two decades, the pharmacy market has changed significantly: there has been vertical and horizontal consolidation; new forms of pharmacies have emerged in addition to independent, chain retail, and mail-order pharmacies; services offered by retail pharmacies have increased; and new, potentially disruptive, entrants have emerged.
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Additionally, the report provides detailed initiatives that are being taken in the field of Healthcare Distribution globally. The report provides a detailed analysis of regions including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. North America dominated the market in 2020, with XX% share.
McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health, Inc., Owens & Minor, Inc., Morris and Dickson Co., LLC, KeySource Medical, Inc., Rochester Drug Cooperative, Inc., Henry Schein Inc., Smith Drug Company, and FFF Enterprises are some of the prominent players operating in the Healthcare Distribution market. Several M&As along with partnerships have been undertaken by these players to make Healthcare Distribution as cost-effective and as widely available as possible.
Healthcare Distribution Market Segmentation
Market Insight, by Type
- Pharmaceutical Product Distribution Services
- OTC Drugs/Vitamins
- Generic Drugs
- Brand-name/Innovator Drugs
- Biopharmaceutical Product Distribution Services
- Monoclonal Antibodies
- Vaccines
- Recombinant Proteins
- Blood and Blood Products
- Other Products
- Medical Device Distribution Services
Market Insight, by End-User
- Retail Pharmacies
- Hospital Pharmacies
- Others
Market Insight, by Region
- NORTH AMERICA HEALTHCARE DISTRIBUTION
- United States
- Canada
- Rest of North America
- EUROPE HEALTHCARE DISTRIBUTION
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- ASIA-PACIFIC HEALTHCARE DISTRIBUTION
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- REST OF THE WORLD HEALTHCARE DISTRIBUTION
Top Company Profiles
- McKesson Corporation
- AmerisourceBergen Corporation
- Cardinal Health, Inc.
- Owens & Minor, Inc.
- Morris and Dickson Co., LLC
- KeySource Medical, Inc.
- Rochester Drug Cooperative, Inc.
- Henry Schein Inc.
- Smith Drug Company
- FFF Enterprises
