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Straits Times
2 days ago
- Business
- Straits Times
Singapore, Chongqing continue work on trade and financial connectivity
Mr Tan Kiat How, senior minister of state for the Ministry of Digital Development and Information and the Ministry of Health, speaking at a trade and financial conference on June 11. ST PHOTO: JASON QUAH SINGAPORE - A 10-year-old initiative to strengthen transport links between Chongqing and Singapore will produce new opportunities over the next 10 years for Western China and Asean to work together in areas like green finance and digital connectivity. For a sustainable, low carbon future, both Asean and China will require a vast amount of green financing and investments, said Mr Leong Sing Chiong, deputy managing director for marketing and development at the Monetary Authority of Singapore. He was speaking at a trade and financial conference on the China-Singapore (Chongqing) New International Land-Sea Trade Corridor (CCI-ILSTC). The conference was held on June 11 at Conrad Singapore Orchard. The CCI-ILSTC is a rail-sea multimodal transportation route for goods linking Chongqing in Western China to Singapore . The conference marked the 10th anniversary of the China-Singapore (Chongqing) connectivity initiative and explored opportunities in trade and digital and sustainable financing for the region offered by the CCI-ILSTC. The CCI-ILSTC has proven itself an efficient and viable trade route linking Western China, South-east Asia, and beyond, said Mr Tan Kiat How, senior minister of state for the Ministry of Digital Development and Information and the Ministry of Health. 'Container volumes have grown nearly tenfold since the CCI-ILSTC facilitates the flow of a wide range of goods, including automotive components, electronics, and chemical products between Western China and South-east Asia through Singapore,' he said. 'Beyond just moving goods, the CCI-ILSTC represents a deeper transformation by reflecting how our region is responding to forces reshaping global trade,' said Mr Tan. 'Supply chains are being reconfigured for resilience; digital technologies are redefining connectivity; and sustainability has become central, not optional, to how we grow and partner responsibly.' Singapore's financial institutions have also been active in supporting Chongqing's decarbonisation. For example, DBS Bank provided a green loan to Singapore Power Group in 2025, to support the district cooling and heating system project at Raffles City Chongqing. The system, to centralise heating and cooling for the whole development , will reduce its carbon footprint by about 30 per cent. Chongqing has long stood out as a gateway to Western China, said Mr Tan during the opening ceremony of the 2025 Chongqing Week, on June 11 at Ngee Ann City. 'From its vibrant consumer market and thriving innovation ecosystem to its logistics strengths and deep industrial base, Chongqing presents compelling opportunities for Singapore companies,' said Mr Tan. The Chongqing Week event, which runs until June 13 , presents the megacity's cultural heritage through traditional handicrafts such as the Jiulongpo paper-cutting art and delicacies like the Rongchang braised goose. The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) is the third government-to-government project between Singapore and China, following the Suzhou Industrial Park and the Tianjin Eco-City. Launched in November 2015, the CCI serves as a key priority demonstration project for China's Belt and Road Initiative, the Western Region development, and the Yangtze River Economic Belt Strategy. Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
12-02-2025
- Business
- Yahoo
Healthcare Logistics Market to Grow by USD 150.7 Billion from 2025-2029, Rising Pharmaceutical Sales Boosting Revenue, AI Impacting Market Trends
NEW YORK, Feb. 12, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global healthcare logistics market size is estimated to grow by USD 150.7 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 15% during the forecast period. Growing global pharmaceutical sales is driving market growth, with a trend towards growing number of initiatives to promote cold chain logistics. However, complexities due to time-bound deliveries and customization of supply chain poses a challenge. Key market players include Agility Public Warehousing Co. K.S.C.P, AGRO Merchants Group, Air Canada, AmerisourceBergen Corp., CEVA Logistics SA, Cold Chain Technologies, Continental Cargo OU, DB Schenker, DHL International GmbH, DSV AS, Farmasoft, FedEx Corp., Kuehne Nagel Management AG, McKesson Corp., Oximio, SF Express Co. Ltd., Swisslog Holding AG, United Parcel Service Inc., and VersaCold Logistics Services. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2025-2029 Base Year 2024 Historic Data 2019 - 2023 Segment Covered Product (Pharmaceutical products and Medical devices), Service (Transportation and Warehousing), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) Region Covered APAC, North America, Europe, Middle East and Africa, and South America Key companies profiled Agility Public Warehousing Co. K.S.C.P, AGRO Merchants Group, Air Canada, AmerisourceBergen Corp., CEVA Logistics SA, Cold Chain Technologies, Continental Cargo OU, DB Schenker, DHL International GmbH, DSV AS, Farmasoft, FedEx Corp., Kuehne Nagel Management AG, McKesson Corp., Oximio, SF Express Co. Ltd., Swisslog Holding AG, United Parcel Service Inc., and VersaCold Logistics Services Key Market Trends Fueling Growth The emerging cold chain markets in Brazil, China, India, and South Africa are being promoted through various regulations focusing on food and drug safety. Notable regulations include CFDA's rules for good pharmaceutical supply practices, the European Commission's guideline on medicinal product distribution, and IATA's CEIV Pharma certification. In 2019, a trading platform was launched for China-Singapore international cold chain products to facilitate trade and logistics between China and Southeast Asia. The healthcare logistics market is experiencing significant growth, driven by the increasing need for efficient and effective supply chain management in the healthcare sector. Occupational therapy, physical therapy, and chronic disease care are key areas of focus. The use of technology, such as cold chain solutions and delivery tracking systems, is crucial for ensuring the safe and timely delivery of medical supplies and pharmaceuticals. Digital transformation is also a trend, with many companies implementing electronic data interchange and other automation solutions to streamline processes and improve accuracy. Additionally, the rise of telehealth and remote patient monitoring is increasing the demand for logistics services that can support these new care delivery models. Overall, the healthcare logistics market is expected to continue growing as healthcare providers seek to optimize their supply chains and improve patient outcomes. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges The healthcare logistics market faces complexity due to the need for shorter lead times for customers and cost reduction for logistics companies. Healthcare supplies require special handling and customized supply chains to maintain product properties. Information sharing is essential for designing effective models, but confidential data concerns may hinder this. Urban and rural infrastructure differences also pose challenges. Manufacturers must consider order size for profitability and customize supply chains based on freight rate, volume, and delivery urgency. These factors make designing a healthcare logistics model a complex task. The healthcare logistics market faces several challenges in ensuring the timely and efficient delivery of medical supplies and equipment. These include the need for temperature-controlled transportation for certain products, the requirement for secure and compliant handling of pharmaceuticals, and the importance of on-time delivery to maintain the continuity of patient care. Additionally, the increasing complexity of supply chains, driven by factors such as globalization and the rise of e-commerce, adds to the challenges. The use of technology, such as real-time tracking and automation, can help mitigate some of these challenges, but also presents its own set of implementation and cost considerations. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This healthcare logistics market report extensively covers market segmentation by Product Service Geography 1.1 Pharmaceutical products- The pharmaceutical segment dominated the global healthcare logistics market in 2023, driven by the approval and launch of new drugs. The US FDA approved 55 novel drugs, primarily small molecule drugs and biologics, leading to increased demand for pharmaceutical logistics. Notable approvals include Kisqali from Novartis AG, Ocrevus from F. Hoffmann-La Roche Ltd., and Veklury from Gilead Science Ltd. This trend is expected to continue, enabling logistics players to adapt their facilities to meet pharmaceutical manufacturers' needs. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2025-2029) and historic data (2019 - 2023) Research Analysis The healthcare logistics market is experiencing significant digital transformation, with the adoption of new technologies such as inventory forecasting and order fulfillment systems. Third-party logistics providers play a crucial role in this sector, offering freight forwarding services to ensure the timely delivery of healthcare products. Warehousing is an essential aspect of healthcare logistics, with facilities required to maintain specific temperatures for sensitive healthcare products. The mode of transportation used in healthcare logistics includes trucks, trains, boats, and airplanes, ensuring the safe and efficient movement of raw materials and finished goods. Healthcare logistics is critical in the prevention, diagnosis, treatment, correction, and transportation of various healthcare-related issues, including infections, injuries, diseases, and dental needs. The healthcare industry relies heavily on logistics to ensure the timely and efficient delivery of essential supplies and products, making it a vital component of the overall healthcare supply chain. Market Research Overview The Healthcare Logistics Market encompasses the transportation, storage, and distribution of healthcare products and supplies. This critical sector ensures the timely delivery of essential medicines, medical devices, and lab samples to healthcare facilities and patients. Technologies like RFID and IoT are revolutionizing healthcare logistics, enabling real-time tracking and monitoring of shipments. The market is driven by factors such as increasing healthcare expenditures, growing demand for specialized medical equipment, and the need for efficient supply chain management. Challenges include regulatory compliance, ensuring temperature-controlled transportation, and managing complex supply chains. Sustainability and digitalization are key trends shaping the future of healthcare logistics. Table of Contents: 1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation Product Service Geography 7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@ View original content to download multimedia: SOURCE Technavio Sign in to access your portfolio
