Ken Research provides a comprehensive analysis of pharma logistics market in Saudi Arabia. The report focuses on overall market size in terms of revenue generated by pharma logistics companies; Saudi Arabia pharma logistics market segmentation by service mix (freight forwarding, warehousing and value added services); pharma freight forwarding market segmentation by freight mode (road freight, air freight and sea freight); by type of transport (domestic freight and international freight); by 3PL Logistics and Integrated logistics; by type of delivery (normal delivery and express delivery); by flow corridors (Middle East, European Countries, Asian Countries and Others); pharma warehousing market segmentation by 3PL Logistics and Integrated logistics; by cities (Riyadh, Jeddah, Dammam and others) and by type of warehouses (Ambient and Cold Storage).
Gurugram, India, June 22, 2021 (GLOBE NEWSWIRE) --
Saudi's Vision 2030 & National Transformation Program (NTP): The Government of Saudi Arabia seeks to expand the private sector's role in providing healthcare services under Vision 2030 and the National Transformation Program. Vision 2030 & National Transformation Program (NTP) include plans to expand the privatization of government services, incorporate health IT and digital records, double the number of qualified Saudi nurses by 2020, and increase the number of licensed medical facilities from 40 to 100 by 2020. The Kingdom is focusing on developing new sources of competitiveness to meet its goal of substituting imports in critical segments to avoid potential shortages. It aims to increase the local cluster value add while also transitioning into more complex products with the objective of becoming a leading manufacturer and innovator in the MENA region.
Infrastructure and Technological advancements in transportation and warehousing segments: Government of KSA is taking initiatives for development of economic zones and logistics centers to accommodate the increasing demand of freight forwarding owning to economic diversification & Vision 2030. KSA government aims to aggressively drive and position 50 islands and 100 miles of Red Sea as a global tourist destination. Expansion of Red Sea corridor in Jeddah, the minerals hub in Yanbu, King Abdullah port and NEOM project are also expected to drive the freight forwarding industry.
Government Investment: Saudi Arabian government is investing to improve its port infrastructure that envisages using innovative technological solutions to also automate processes & activities. Companies have started adopting technologies such as WMS, RFID and others to have an edge over other players in the logistics industry.
The report titled "Saudi Arabia Pharmaceutical Logistics Market Outlook to 2025: Driven by rising demand for a variety of drugs as a result of increasing cases of chronic and lifestyle-related diseases" by Ken Research suggested that the pharma logistics market is further expected to grow in the near future as pharma companies have started manufacturing or assembling the pharma products within the country. The rising demand for a variety of drugs as a result of increasing cases of chronic and lifestyle-related diseases is also a crucial factor that will drive the market growth. Pharma Sales is expected to grow at a double digit CAGR till 2025, signaling increasing pharmaceutical imports and production. The government is also diverting the funds towards creating a robust healthcare infrastructure by building new hospitals which would further lead to an increase in the demand for the logistics services. The market is expected to register a positive CAGR of 10.2% in terms of revenue during the forecast period of 2019-2025F.
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For More Information on the research report, refer to below link:-
Saudi Arabia Pharmaceutical Logistics Market
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The market showcased a volatile growth trajectory. Dry logistics revenue declined at a CAGR of single digit CAGR during 2015-2019 due to oil price shock further leading to an economic slowdown during 2016-2017 period. Saudi Arabia is located at the crossroads of significant international trade route that connects Asia, Europe and Africa. This strategic location provides the Kingdom with a unique advantage over other nations thus, enabling it to become a leading regional logistics hub. In April of 2016, Saudi Arabia announced its Vision 2030 which includes transforming the Kingdom into a preferred logistics hub. It is making continuous efforts to make imports and exports processes more streamlined. Additionally, government is restructuring the regulations and structures logistics sector government and opening the way for market liberalization and private sector participation. Expansion of industrial cities continues to offer opportunities for foreign investors towards developing the non-oil manufacturing base, warehousing & logistics segments. For instance, Pfizer opened a manufacturing facility in the King Abdullah Economic City in the year 2017. Non-oil manufacturing growth is facilitated by launch of National Industrial Development and Logistics Program (NIDLP) in Jan 2019 by KSA government. Various companies are investing in Special bulk trucks and heavy lift movements to diversify their Revenue streams and Operations. For instance, Bahri launched new dry-bulk carrier 'Sara' & increased their total fleet of dry-bulk carriers to 6 ships in KSA.
UAE logistics and warehousing market is on strong and sustainable growth trajectory. The economy has faced volatility in 2013-2019 owning to increasing foreign direct investments, increase investments in infrastructures, negative repercussions of global economic slowdown, 100% ownership in certain sectors and fall in oil prices. Foreign Direct investments in 2016-2018 is estimated to be USD 139 Billion leading to total foreign direct investments of USD 139 Billion in UAE. Government of UAE has consistently taken initiatives to reduce dependence on oil exports due to falling prices. Various government initiatives such as EXPO 2020, Dubai Vision 2020 , Abu Dhabi Vision 2030 and flexible rules and regulations have been taken up to promote economic diversification of the economy.
Philippines Logistics Market has witnessed an average CAGR during 2014-19 due to favorable laws from CTAP, Investments in Bridges to promote Inter-island transportation through RORO, and development of ports both by the government and with Public-Private Partnerships. The Current logistics cost comprise 27.16 % of sales in the Philippines which is very high in comparison to other SEA countries. The influx of foreign players, increasing consolidation, Green freight policies by the Government, and investing in innovative technologies has stimulated the growth in the market.
The Australian Logistics Market was observed to be in a growth stage during the period of 2015-2020 owing to the expanding manufacturing & retail sector, increasing disposable income, a growing number of foreign companies, and increasing value of exports and imports in the country. The Australia Logistics Industry has grown at a CAGR of 4.6% on the basis of revenue. The market is booming owing to increasing infrastructure investment, e-commerce, and cold chain facilities in Australia. The freight forwarding sector is the leading segment towards the revenues of the logistics industry, followed by warehousing and courier & parcel activities. Value-Added services also contribute a significant proportion to the overall logistics market in Australia.
The competition in the E-Commerce Logistics space in Indonesia is moderately concentrated whereby major 4-5 companies hold the majority of the share in the market. The major e-commerce logistics companies include Lazada express, JNE, J&T, Sicepat, Ninja Express, Wahana Express, Lion Parcel, Tiki, First logistics, and few others. The E-Commerce market is also moderately fragmented as the majority of the market share is composed by the top 5-6 players. Fleet size, clientele, no. of delivery centers, number of orders, value-added services, price, delivery time are the key competing parameters for the e-commerce logistics providers.
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CONTACT: Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249