Visiongain has published a new report entitled the Pharma Wholesale and Distribution Market Report 2021-2031. It includes profiles of Pharma Wholesale and Distribution and Forecasts Market Segment by Type {Full-Line Wholesalers (FLWs), Short-Line Wholesalers (SLWs), Direct-to-Pharmacy (DTP), Hospitals, Clinics & Others, Mail Orders, Other Types}; Market Segment by Distributor Type, (Ethical/Branded Pharma Products Distributors, Generic Pharma Products Distributors, Propaganda Cum Distribution (PCD) Franchise, OTC/Institutional Supply Pharma Distributors, Other Distributor Type) Market; Segment by Product Type (Prescription Drugs Wholesaling & Distribution, OTC Products Wholesaling & Distribution, Antibiotics Wholesaling & Distribution, Antiseptics Wholesaling & Distribution, Supplement Products Wholesaling & Distribution, Other Product Type) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global pharma wholesale and distribution market was valued at US$477 million in 2020 and is projected to grow at a CAGR of 5.7% during the forecast period 2021-2031.
Connected Trends That Lay Great Importance on Individual Treatment Are the Consequence Of Personalized Care
Personalized care is the result of two connected trends that place a major emphasis on treating patients on an individual basis. Personalized wellness is an individualized approach to holistic wellbeing that assesses an individual’s risk of developing a disease or having adverse treatment reactions based on biological data. Personalized medicine is a type of medicine that uses genetics to evaluate a person’s illness vulnerability, specify preventive measures, and target specific therapies to lower overall health risks.
How has COVID-19 had a significant negative impact on the Pharma Wholesale and Distribution Market?
The COVID-19 epidemic is clearly both a health and economic calamity for the entire world. There have been concerns about the pharmaceutical supply chain since the stoppage of industrial activity in China and India, even before the World Health Organization (WHO) declared the spread of the SARS-CoV-2 virus a pandemic.
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While some manufacturing resumed in China in April, the virus spread in many other parts of the world. According to a study done by the industry newspaper Pharmaceutical Technology in mid-April 2020, 24 percent of 3,617 respondents were extremely convinced that medications will not be disrupted, while a comparable amount (22 percent) were extremely skeptical. 1 Another 23% were somewhat confident, while 20% were somewhat skeptical. Clearly, there was no consensus on the long-term impact of the pandemic.
Several months later, the uncertainty persists. Many areas of the United States experienced significant increases in cases after reopening their economies, with several reinstating modified stay-at-home and company closure/reduced operation orders. Other countries have had success in limiting pockets of case surges by implementing robust track-and-trace systems and mandating mask wear. The virus will undoubtedly continue to wreak devastation until a vaccine is discovered, extensively distributed, and delivered to the vast majority of the world’s population.
Source: Globenewswire