McKesson Corporation, AmerisourceBergen Corporation, and Cardinal Health, Inc. are the Leading Players in the Healthcare Distribution Market
The healthcare distribution 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% between 2019 and 2024. The growth of this market is majorly driven by the rising incidence of chronic diseases, availability of R&D investments, growing importance of generics, rising adoption of track & trace solutions, and the growth of the medical device industry. Also, 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.
The healthcare distribution market in the APAC is estimated to grow at the highest CAGR in the coming years. This can be attributed to the growing regulatory requirements in the healthcare industry to maintain compliance with good manufacturing and distribution practices, rising number of pharmaceutical and biotechnology companies, and the significant economic development in emerging Asia Pacific countries such as China and India.
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McKesson Corporation (US), AmerisourceBergen Corporation (US), and Cardinal Health, Inc. (US) are the major players operating in the global healthcare distribution market. Other prominent players operating in this market include 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).
McKesson (US) dominated the global healthcare distribution market in 2018. The company is a global leader in healthcare distribution and has been operating in the market for about 159 years. Through its Distribution Solutions segment, McKesson distributes 1/3rd of prescription medicines in North America and more than 275,000 SKUs of branded & private-label medical-surgical supplies. The company reaches its customers through its wide network of distributors and sales offices located across the globe. This vast geographical presence helps the company to maintain its position at the global level. Due to its strong supplier relationships and robust supply-chain expertise, McKesson is expected to garner a larger share of the healthcare distribution market in the coming years.
In 2018, AmerisourceBergen Corporation (US) held the second-largest share of the global healthcare distribution market. The company distributes crucial medications to 95% of the hospitals and 34% of retail pharmacies in the US. AmerisourceBergen has about 27 DSCSA-compliant distribution centers that help streamline logistics for its manufacturing partners and ensure customers receive products quickly and safely. Moreover, the company has implemented a continuous improvement program and invested more than USD 1 billion in its distribution infrastructure and operations over the last 10 years in order to enhance the quality and efficiency of its supply chain.
Cardinal Health (US) is a prominent and well-established player in the healthcare distribution market. Through its services and products, the company serves nearly 85% of hospitals, more than 26,000 pharmacies, and over 10,000 specialty physician offices and clinics across the US. The company has a strong presence in the US and earns the majority of its revenue from sales in the country. Cardinal Health’s performance has been improving, and this is evident from the 4.1% increase in its revenue in 2018 as compared to 2017. In the healthcare distribution market, the company continues to reinforce its business by implementing newer strategies. In this regard, the company intends to further penetrate existing markets through technological leadership and differentiated platforms by consistently innovating its product and service offerings.
Related Reports:
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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