Increasing number of patents and rise in global pharmaceutical industry are expected to be the key factors for the growth of bio-pharmaceutical market in the coming years. In the coming few years, patent rights for several leading drugs are set to expire, indicating shift of large portion of sales from original brand manufacturer to generic manufacturers. Similar to other sectors, the pharmaceutical industry is also undergoing the geographic shift in its production facilities and sales markets. Markets like Asia, Latin America, Middle East, China are becoming increasingly attractive to these pharmaceutical companies. However, these markets are considered as the most challenging in terms of supply chain regulations. The pharmaceutical industry utilizes logistic services for the complete administration of the distribution of medicinal products and devices to different end users where they are required. These logistics services help the pharmaceutical companies have a continuous supply of drugs, devices and equipment from suppliers and distributors of various locations.
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The global prescription drug sales have more than doubled in the past ten years and is expected to surpass one trillion in terms of sales value by the end of 2020. Moreover, patent rights for several leading drugs are set to expire, indicates that large portion of sales will shift from original brand manufacturer to generic manufacturers. Similarly, other sectors, the pharmaceutical industry are also undergoing the geographic shift in its production facilities and sales markets. Markets like Asia, Latin America, Middle East, China, etc. are becoming increasingly attractive to these pharmaceutical companies, however, these markets are considered as the most challenging in terms of supply chain regulations.
At present, the distribution structure in the European and American markets are heavily inclined towards national warehouses both regionally and centrally. Developing warehouse structures and outsourcing to logistics service providers is the key focus areas for the pharmaceutical manufacturers. Low cost and greater visibility in the supply chain are the main advantages of outsourcing logistics services and is becoming an integral part of overall business strategy. These above-mentioned factors are the key drivers for the growth of the market in the coming years.
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Pharmaceutical logistics aids in handling transport issues such as, temperature control, regulatory compliance, security, safety and chain of custody are for bio-pharmaceutical manufacturers at every turn. In every organization, logistics is the key integral part of the supply chain management, which deals with procurement, planning and implementation of all the logistics activities. The effective logistics management will help the pharmaceutical companies to have a constant supply of drugs, devices and equipment from various dealers and distributors in different locations.
Nowadays, most of the pharmaceutical companies are outsourcing their logistics services to third party providers known as LSPs (Logistics Service Providers) to focus on their core business activities such as marketing, sales and research & development activities. The outsourcing of logistics services is becoming core of business strategies in most of the organizations, as a cost cutting program. The market based on region, is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA).

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