LOS ANGELES,– The global healthcare distribution market is expected to grow at a CAGR of around 7.7% over the forecast period 2019 to 2026 and reach the market value of around US$ 1,275 Bn by 2026.
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In 2018, North America dominated the regional market of healthcare distribution and the region is also expected to maintain its dominance over the forecast period. The US and other developed countries of the region have boosted the number of prescriptions in retail pharmacies with the implementation of programs to guarantee accessible healthcare for people. For instance, ADMA Biologics, Inc. announced the first commercial sales of ASCENIV with the approval from the U.S. Food and Drug Administration (FDA) in 2019. The biologic product is now commercially available for ordering in the U.S. through BioCare SD, ADMA’s authorized distributor. ADMA is a commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics particularly for the treatment of immunodeficient patients.
By Type, pharmaceutical product distribution services of the healthcare distribution market have dominated the segment in the year 2018. The segment accounted for the largest market share owing to the increasing production of pharmaceutical formulations, ongoing R&D activities and increasing demand for pharmaceutical products in Asian countries. For instance, the regulation in the U.S. associated with the track and trace of drugs, manufactured by the pharmaceutical industry is enabling a large number of pharmaceutical manufacturers, shippers and wholesalers to adopt the blockchain-based network. Blockchain helps individual wholesalers by eliminating the need for managing large volumes of product lists and manufacturer addresses. Additionally, it complies with DQSA regulations with a reduction in errors and savings to the entire supply chain.
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By end-user, retail pharmacies accounted for the largest share in the year 2018 owing to its dealing in large volumes for the pharmaceuticals on a daily basis. The rising implementation of programs by the US and various developed economies which ensures affordable healthcare for citizens results in increasing volume of prescriptions another factor accelerating the market value.
Some of the leading competitors are McKesson Corporation, Cardinal Health, Inc., AmerisourceBergen Corporation, Owens & Minor, Inc., Morris and Dickson Co., LLC, Curascript Specialty Distribution, FFF Enterprises, Inc., Medline Industries, Attain Med, Inc., and Dakota Drug among others. The major players involve in strategic partnerships for managing inventory, acquiring supplies, reducing costs and saving time for the expansion of the market share over the forecast period.
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Some of the key observations regarding healthcare distribution industry include:
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