World News: 15:00 GMT Wednesday 7th August 2019. [Technavio Research via Businesswire via SPi World News]
The healthcare logistics market in North America is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled healthcare logistics market in North America 2019-2023 (Graphic: Business Wire)
The temperature in the cold chain is tracked using temperature data loggers that are packed along with the shipment. However, with the implementation of RFID and IoT, the temperature can be monitored and recorded in real-time. The cold chain RFID system includes a sensor, tags, and readers, which communicate with each other through radio transmission. RFID and IoT can be integrated with various devices used to measure temperature, moisture, humidity, radiation, and air concentration. Thus, the implementation of RFID and IoT will fuel the growth of the healthcare logistics market during the forecast period.
As per Technavio, the emergence of drones in healthcare logistics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This healthcare logistics market in North America 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Healthcare Logistics Market in North America: Emergence of Drones in Healthcare Logistics
The popularity of drones has increased significantly over the years, and its applications are now growing beyond military use. They are increasingly being adopted in the logistics industry, particularly for delivery operations in remote and rural areas. Drones can be used for delivering essential healthcare supplies, such as pharmaceutical drugs, and low-weight and small-sized medical devices to hard-to-reach remote destinations. Thus, the emergence of drones will be a key healthcare logistics market trend during the forecast period.
“Apart from the emergence of drones in healthcare logistics, other factors such as the advent of pharma 4.0 and logistics 4.0, and the introduction of new pharmaceutical products will have a significant impact on the growth of the healthcare logistics market worth in North America during the forecast period,” says a senior analyst at Technavio.
Healthcare Logistics Market in North America: Segmentation Analysis
This market research report segments the healthcare logistics market in North America by service (transportation and warehousing), and product (pharmaceutical products and medical devices).
The pharmaceutical products segment accounted for the largest share of the healthcare logistics market in North America. However, the medical devices segment is expected to witness the highest incremental growth during the forecast period.
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Business Wire: 15:00 GMT Wednesday 7th August 2019
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