Market Trends of Spain Pharmaceutical Logistics Industry
Increase in Pharmaceutical Sales
When transporting temperature-sensitive medicines like vaccines, capsules, and tablets, it's critical to protect them from shocks, jostling, harsh handling, bad weather, and other uncontrollable circumstances while maintaining a consistent temperature range. As a result, pharmaceutical, biotech, and medical device businesses must assure the stability, adequate packing, and proper delivery of their products.
Pharmaceutical companies are increasingly concerned with product quality and sensitivity. Factors such as the creation of complicated biological-based medications and the dispatch of hormone therapies, vaccinations, and complex proteins necessitate specialized transportation and warehousing. Temperature-controlled transportation of pharmaceuticals and medical devices is a rapidly expanding segment of the healthcare logistics sector.
Furthermore, the pharmaceutical industry's cold chain supply chain and logistics are becoming more strategic and dependable. These high-value pharmaceutical items are generally supplied via cold chain solutions throughout the whole distribution network, fueling the market growth.
Although Spain's pharmaceutical industry is the fifth largest in the eurozone, after Germany, France, Belgium, and Italy, its relative weight in the national economy (0.6% of GVA) is close to but below the eurozone average (0.7%), as shown in the chart below, and it is far from the outstanding cases of Belgium (2.5%) and Slovenia (2.9%), both of which benefit from head offices being located in their respective countries.
Increasing Popularity of Online Pharmacies to Support the Market Growth
In recent years, online pharmacies have grown in popularity due to the rising internet penetration and the increasing prevalence of chronic diseases in developing countries. Due to the availability of high-speed internet and the rising awareness of online over-the-counter benefits, in Spain.
Online pharmacy is one of Europe's most popular advancements in both emerging and established countries. The Online pharmacy sector benefitted from the COVID-19 pandemic. Customers flocked in droves and began to exhibit a keen interest in online drug transactions.
The retail pharmacy market in Spain is a well-established market, with over 24,000 pharmacies operating in the country. The market is primarily composed of independent pharmacies, which account for the majority of the total market share. Spain has a large number of small pharmacies, which are typically family-owned and operated.
The Spanish government has a substantial influence on the retail pharmacy business through its reimbursement rules and regulations. The government sets the prices of drugs and sets reimbursement rates for pharmacies, which can impact their profitability. The government also regulates the number of pharmacies that can operate in a given area to ensure fair competition among pharmacies and prevent oversupply.
