Biopharmaceutical Logistics Market Scenario

 Human health is at the heart of the fourth industrial revolution in the pharmaceutical industry. One of the major factors driving the growth of drugs is the rapid growth of biopharmaceuticals. The global biopharmaceutical market is showing strong growth, and the current 20% share in the drug market is expected to grow to 70% over the next 20 years. The domestic biopharmaceutical market has also become a boom in trade due to an increase in exports in 2017. Currently, there is no research on the establishment of biopharmaceutical distribution centers. Therefore, in this study, it was assumed that the factors required in the establishment of existing logistics centers and biopharmaceutical logistics centers would differ. In this study, three factors were excluded from AHP's ambiguous analysis - location, location, and cost. In addition, 11 detailed features were demonstrated, and their value depended on temperature control devices, ease of transportation, and the development of a transport information system. Therefore, facilities are more important in biopharmaceutical logistics centers than in conventional facilities.

What is Biopharmaceutical Logistics

The ever-changing demographics leading to a growing number of adults and an increase in chronic diseases, the biopharmaceutical market is growing because of its role in preventing and treating various diseases. In particular, biopharmaceutical products, including anti-cancer drugs, are sources of revenue for pharmaceutical companies (Jungbauer and Göbel, 2012). Increased interest in consumer health, technological advances in biopharmaceuticals, and increased research and development (R&D) investment contribute to the increase in the biopharmaceutical market. The biopharmaceutical drug market is growing faster than the conventional and conventional drug markets (Bishara, 2006, 2008). According to a report entitled “World Market Study on Biopharmaceuticals,” the global biopharmaceutical market size was estimated at $ 162 billion in 2014. The global biopharmaceutical market value is expected to cover an annual growth rate of 9.4% between 2014 and 2020, reaching. $ 278 billion. In addition, the Asian biopharmaceutical market is expected to be very large due to their growing interest in health and their growing purchasing power.

The biopharmaceutical market in Korea has grown steadily from 2007 to 2016. As interest in the biopharmaceutical industry and business grows in Korea, the size of the biopharmaceutical market has also grown not only in total production but also in import and export prices, as shown in Fig. 1. Since 2015, the export volume of biopharmaceutical products has exceeded international purchases.

Global Statistics Representing  Biopharmaceutical Logistics Market Scenario

Significant growth in sales of pharmaceutical products and the tendency to outsourcing drive the demand for transportation services worldwide. According to the IQVIA report on global drug use, the global pharmaceutical market was estimated at USD 1.2 trillion in 2018, approximately USD 100 billion over 2017. 2023. International shipping procedures are complex and require intensive management. Removing transport services is beneficial to pharmaceutical manufacturers by saving costs, harmonizing the distribution process, and managing cold chains to distribute heat-resistant pharmaceutical products.

Strict controls over the supply chain are needed to deal with counterfeit drug issues. Regulatory authorities around the world have developed guidelines that specify clear identification, monitoring, and adherence to medication. The management of these networks and processes requires a high level of IT expertise and significant investment. Therefore, the regulatory requirement of serialization issues and issues of data collection of counterfeit products furthers the practice of export. According to the 22nd annual Third-party Logistics survey, of all respondents, 92% of foreign service providers and 73% of foreign company users agreed that outsourcing allows for the establishment of new ways to improve the efficiency of transportation services.