The global pharmaceutical logistics market involves a very complex operational process, which is essential as pharmaceuticals are an integral part of the health care industry. A pharmaceutical logistics chain is not like other regular logistics chains in terms of type of products, complexity, and cost. Availability and accessibility of pharmaceuticals are of importance for both companies as well as governments. There is no other product apart from pharmaceuticals that has as high a risk of contamination, sterilization, or instability of ingredients. The stability of packages in transportation from factory to consumer is an important factor in pharmaceutical logistics. This process needs to be maintained and monitored well.
Improper distribution of drugs affects customer satisfaction, company reputation, and company profit. It can also disturb and produce a negative effect on public health, thereby hampering the medication processes of patients. There is an increase in inspections and scrutiny from the FDA, the DEA, and other global regulatory bodies. Pharmaceutical logistics chains continually face the challenges of streamlining operations in maintaining the highest levels of regulatory observance.
The temperature in the vehicles used for transportation is controlled, for cold chain products as well as ambience.
In pharmaceutical logistics, products are tracked with GPS, along with remote temperature monitoring in accordance with GDP guidelines, ensuring safe transportation and delivery of the products. For narcotics and pharmaceutical products, additional measures to ensure safe delivery are observed. For different types of pharmaceuticals, different delivery patterns deployed. There are specific issues in pharmaceutical supply chains, including stringent reimbursement, regulations, direct sell models, pricing applied by government agencies, third-party logistics, product diversity, shipment of R&D products for clinical studies, difficulty in forecasting a product’s lifecycle, and counterfeit products.
In 2012, in Lesotho the data used for making decisions in logistics chain management was very poor due to untimely and low submission rates, inaccuracy, and a lack of standardized, user-friendly data collections tools. This caused stock-outs of HIV related commodities and other medicines. The handling of sensitive active ingredients and dangerous goods is highly regulated. The rules are related to storage and transport. The maintenance of a flow of material is controlled within the company, and it is the responsibility of the company. However, inbound and outbound transport is often taken care of by service providers. The digitization and improvement of logistics chains leads to many new avenues in its management and distribution. GMP confirms the products are of the highest quality before leaving the company and entering the logistics chain. GDP is concerned with the maintenance of the products’ integrity and the logistics chain even though the GDP may vary by region, giving a chance for the process to grow in complexity.
The global pharmaceutical logistics market can be segmented based on product, transport, application, mode of transportation, and region. Based on product, the global pharmaceutical logistics market can be classified into generic drugs and branded drugs. In terms of transport, the global pharmaceutical logistics market can be segmented into cold chain transport and non-cold chain transport. Based on application, the global pharmaceutical logistics market can be classified into bio pharma, chemical pharma, and specialized pharma. In terms of mode of transportation, the global pharmaceutical logistics market can be categorized into air shipping, sea shipping, road shipping, and rail shipping. Based on region, the global pharmaceutical logistics market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
Prominent players operating in the global pharmaceutical logistics market are Longistics, Kuehne + Nagel, Genco, Arich Enterprise Co., Ltd, DB Schenker, DSV, DHL, Mainfreight Ltd, Bio Pharma Logistics Kerry Logistics Network Limited, Zuellig Pharma Asia Pacific Ltd, , Thermotraffic, DKSH, Bestchain Healthtaiwan, Movianto, and FedEx amongst others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.