(EMAILWIRE.COM, May 15, 2020 ) The healthcare distribution services market is projected to reach USD 1,048.4 billion by 2024 from USD 765.4 billion in 2019, at a CAGR of 6.5%. 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 Market by Type (Pharmaceutical (Brand-name, Generic, OTC, Vitamins), Medical Device, Biopharmaceutical (Vaccines, Monoclonal Antibodies)), End User (Retail Pharmacies, Hospital Pharmacies) — Global Forecasts to 2024

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Healthcare Distribution Market, 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 (cellular & gene therapy products, stem cell products, and tissue & tissue products)
Medical Device Distribution Services
Healthcare Distribution Market, by End User

Retail Pharmacies
Hospital Pharmacies
Other End Users (clinical laboratories, physician offices, home care settings, online pharmacies, and long-term care facilities)
Healthcare Distribution Market, by Region

North America
US
Canada
Europe
Germany
France
UK
Rest of Europe
Asia Pacific
Rest of the World
North America to dominate the healthcare distribution services market during the forecast period

In 2018, North America dominated the Healthcare Distribution Services market, followed by Europe. The presence of a large number of pharmaceutical and biotechnology companies and medical device manufacturers in the region, growing incidence of chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, stringent regulations regarding distribution, and the presence of advanced healthcare infrastructure are the major factors driving market growth in North America. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the growing regulatory requirements in the healthcare industries of several APAC countries to maintain compliance with good manufacturing and distribution practices and the rising number of pharmaceutical and biotechnology companies operating in this region.

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Companies Covered in Healthcare Distribution Services Market

McKesson Corporation (US), AmerisourceBergen Corporation (US), Cardinal Health, Inc. (US), Owens & Minor, Inc. (US), Morris and Dickson Co., LLC (US), KeySource Medical, Inc. (US), Rochester Drug Cooperative, Inc. (US), Henry Schein Inc. (US), Smith Drug Company (US), FFF Enterprises (US), Patterson Companies Inc. (US), Mutual Drug (US), Shanghai Pharmaceutical Group Co., Ltd. (China), Medline Industries (US), PHOENIX Group (Germany), and CuraScript SD (US).