Economic Outlook for Pharmaceutical Supply Chain is Positive with Growth Predicted for 2013 According to New Cold Chain IQ Report
In the face of shrinking R&D pipelines and restructuring at the major pharmaceutical organisations, ColdChainIQ.com conducted an industry wide study to determine the economic prospects of the industry.
The results of the study have now been published in a 31 page special report entitled "Economy and Job Outlook Survey – Cold Chain Pharma in Recessionary Times".
Despite current global economic uncertainty, professionals operating in the pharmaceutical and biotech supply chain are optimistic about their job prospects with growth predicted for 2013 and beyond.
The survey research also revealed that over 71% of manufacturers of life science products and temperature control solution and service providers plan to invest in new technologies in the next 12 months to tackle their supply chain challenges and improve the efficiency of their operations.
Furthermore, respondents were positive about the future with 84% of manufacturers believing their company was better prepared to cope if a recession occurs in 2013.
Industry experts predict the biggest growth in temperature controlled pharmaceutical shipments will come from emerging markets. Much of this expected growth is attributed to China and India’s growing importance in the global pharmaceutical industry is growing.
Steve Huang, managing director, DHL Global Forwarding China, said: "The Life Science and healthcare industry in China holds its own despite the global economic crisis. We are optimistic that this sector will continue to offer promising growth."
53% of life science manufacturers questioned indicated they are looking to expand into Asia in the next 12 – 18 months. The Latin America region is also predicted to experience significant growth.
"From my experience, the biggest growth I’ve seen is Asia Pacific, as well as Latin America. There’s been some growth in the Middle East and I believe North Africa will also have a great increase but I suspect that the biggest increase will continue to be in Asia Pacific and Latin America, if you look at the so called BRIC countries we’re talking about – Asia Pacific, Latin America and then some of Eastern Europe," said Carlos Castro, Transportation/Cold Chain Project Manager at Bayer Healthcare.
The report also identified regulatory compliance and supply chain security as key factors impacting on the pharmaceutical supply chain.
The report concludes that the majority of survey respondents are optimistic about the temperature controlled logistics in 2013, with 64% expecting the pharma market to be better in 2013 and 94% of manufacturers expect staffing levels to remain steady or increase in the next 12 months.
The full results and analysis can be downloaded exclusively at ColdChainIQ.com:
About Cold Chain IQ
Cold Chain IQ is an international online resource centre for the temperature control life science professional. Cold Chain IQ delivers insightful, unbiased information about today’s key issues and challenges via expert analysis, industry news, expert interviews, video features and top-rated presentations from Cold Chain IQ / IQPC’s global temp control supply chain event series.
Cold Chain IQ focuses on all areas of temperature controlled logistics, distribution and quality in pharmaceuticals and biotechnology.
Cold Chain IQ, part of IQPC, maintains the largest cool chain pharmaceutical international database, offering strategic partners, members and contributors an unparalleled opportunity to network, share ideas and disseminate best practice information across the globe with peers.
For more information please contact the Cold Chain IQ team on +44 (0)20 7368 9300 or firstname.lastname@example.org