A recent article in Global Trade Magazine reported that the global pharmaceutical market is projected to reach $91 billion by 2020. This fast-paced, and emerging market, was valued at $61.1 billion in 2014.
The transportation of pharmaceuticals is critical to the growth of the industry and is charged by rising countries like China, India, Brazil, Mexico, and Russia. Pharmaceuticals are also perishable, making their transport challenging via airfreight.
Increase in Development
The growth of the pharmaceutical market can largely be attributed to the emergence of a new sector of logistics: healthcare logistics. Many logistics companies have invested in medical and pharmaceutical supply-chain advancement which has improved the overall performance of the market.
Health Tech reports that, “…drones are being tested in the U.S. in the hope that first responders or organizations in need will have quicker access to technology, medicine, blood and more.”
As innovation continues at a fast clip and the market responds, this promises to be an ever-growing field.
What Technologies are Helping?
In order to keep up with the demand of pharmaceuticals and to be more efficient when transporting, technology has been developed to keep up with commercial and regulatory standards. Most biologic and human plasma-based drugs require controlled environments because they have very specific shelf-lives, most often in relation to temperature and humidity of their surroundings.
There are now numerous smartphone applications that allow for pharmaceutical temperature motoring. On top of apps, there has been significant advancement is sensor technology and temperature-controlled packaging in the life-science industry.
The Impact on Logistics
The risk is high in transporting pharmaceuticals, now more than ever. David Bang of LifeConEx and DHL Temperature Management Solutions shared, “Approximately a decade ago, a typical pharmaceutical company would have one active container qualified globally, but, now we see two or three active container types approved with rental-based high performing passive packaging options”. As Bang points out, the skill, reliability, and predictability are all changing for the logistics industry as the pharmaceutical market continues to grow.
We are proud to be an air exporter, providing international and domestic airfreight solutions for our clients. We understand a wide range of needs and are able to assist 24/7 to save you time and money. We are excited to see this growth in our industry; are you in need of air cargo transport? We would love to work with you. Contact us today!