LONDON--(BUSINESS WIRE)--Technavio’s latest report on the pharmaceutical logistics market in APAC provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The pharmaceutical logistics market in APAC is driven by the increasing demand for medicines from the aging population and scientific and technological advances, coupled with the economic growth of emerging countries, such as India and China, and the trade liberalization. Also, the patent rights for several leading drugs, such as Azilect, Tamiflu, Cancidas, and Invanz, are set to expire in 2017. This indicates that a large portion of drug sales will shift from the original brand manufacturer to generic drug manufacturers. The pharmaceutical market in APAC is becoming increasingly attractive to various pharmaceutical companies, due to the growing population in APAC countries.
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The top three emerging trends driving the pharmaceutical logistics market in APAC according to Technavio transportation and logistics research analysts are:
- Innovation in pharmaceutical packaging and technology in cold chain logistics
- Huge scope in emerging countries and shift toward biological drugs
- Adoption of automated storage and retrieval systems
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Innovation in pharmaceutical packaging and technology in cold chain logistics
“Reusable containers are being increasingly used in pharmaceutical logistics to reduce waste. Moreover, some companies are encouraging the use of green packaging materials. For instance, World Courier launched a new packaging solution for pallet-sized shipments known as Cocoon in 2016. This packaging will reduce the transportation costs and maintain a temperature to increase the shelf life of drugs and medicines by 40%, as compared with other products,” says Shakti Jhakar, a lead analyst at Technavio for research on logistics.
Cold chain carriers have invested in onboard equipment, built into refrigeration units to track temperature and location. This also makes data available to 3PLs and shippers in real time, offering increased visibility and the opportunity to mitigate or prevent loss. Some shippers use removable sensors, which independently track the temperature levels of their cold cargo, generally used for high-value goods and international shipments.
Huge scope in emerging countries and shift toward biological drugs
“The cold storage market in emerging economies, such as India and China, is still in its developing phase. However, certain challenges faced by the cold chain vendors in the emerging economies, such as the lack of proper infrastructure, presence of minimal logistic support, lack of proper warehousing facilities, lack of skilled workers, and limited presence of service providers, have led to a substantial wastage of pharmaceutical products in these countries,” adds Shakti.
Proper cold storage facilities and cold chain logistics can reduce the pharmaceutical drug wastage and health-related issues in these emerging economies. There has also been a continual growth in the organized retail sector in these regions, which has increased the demand for cold chain logistics facilities. The market is witnessing dynamic growth in developing nations, especially in China, India, and Singapore.
Adoption of automated storage and retrieval systems
The adoption and use of automated storage and retrieval systems (AS/RS) is one of the major trends in the pharmaceutical logistics companies in APAC, such as Daifuku and Dematic. AS/RS are inventory management systems that are widely used in manufacturing and distribution centers. AS/RS are specially required by temperature controlled warehouses, where temperatures decrease up to -0.5°F.
AS/RS also helps in the effective utilization of space and reduces energy consumption and labor costs by more than 50%. AS/RS has an integrated structure of racks and cranes that enables the vertical and horizontal storage of items and optimum use of space (up to the ceiling), creating greater storage density for pharmaceutical products.
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