An overview of the global pharmaceutical logistics market
Keeping pharmaceutical products undamaged and therapeutically effective during their journey to the market can often prove to be an arduous and complex task. Once outside the sterile manufacturing and packaging facility, the risk of product contamination during the pharmaceutical logistics process can be high. The handling of temperature-controlled pharmaceutical products during the pharma logistics process is a complicated business irrespective of the mode of transport and presents unique challenges. Furthermore, the pharmaceutical industry is heavily segmented, resulting in an increased level of M& activity in the sector.
The pharmaceutical industry is also experiencing a geographic shift in its major production locations and sales markets. Asia and South America, in particular, are becoming increasingly attractive markets for companies in the sector. But these markets are regarded as the most challenging in terms of supply chain and pharmaceutical logistics operations. As technology and innovation in the pharmaceutical space mature, we can expect advanced and risk-free pharma supply chain and logistics processes in the near future. In this article, Infiniti’s thought leaders answer some key questions relating to pharmaceutical logistics.
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What are some of the biggest pharmaceutical logistics challenges facing companies currently?
Supply chain visibility is one of the key challenges facing pharmaceutical logistics. This could become a serious challenge especially for companies that intensively deal with regulatory affairs. Pharma manufacturers must overcome this barrier as better supply chain visibility into pharmaceutical logistics helps enhance shipment lead times, analyze customer sales projections can drive efficiency benefits, reduce inventories, and improve fulfillment rates. Furthermore, challenges related to increased globalization are presenting suppliers, consumers, and regulatory bodies in the pharmaceutical logistics space with increased risk and uncertainties.
What are some of the key region-specific insights on pharmaceutical logistics?
Pharma logistics are highly mature in Western Europe and the United States. In the future, we can expect the least number of supply chain issues from Nordic countries. At present, emerging markets including China and Southeast Asia, the Middle East, South America, and Eastern Europe look highly lucrative for growth in the pharmaceutical industry. As the demand for modern medical treatments and healthcare products rises in these emerging and ‘high-potential’ nations, pharmaceutical companies are moving to unfamiliar territories and cultures and also learning about the accompanying supply chain challenges in these regions. These roadblocks include an unstable regulatory environment and underdeveloped logistics infrastructure.
The world of pharmaceutical logistics is a complex, challenging, and ever-evolving sphere. But with the right strategies in place you can capitalize on the right opportunities and stay successful.