The Indian Pharmaceutical sector is splinter with about 22,000 players (with approximately 300 in the organised sector). The total turnover of the Indian Pharmaceutical sector is estimated to be close to US$ 19-21 billion of which around US$ 9 bn. comes from exports while the rest comes from domestic sales. Currently, as per 2019 survey India is the 7th largest market in the world in terms of volume and 13th in terms of value and around 8% of the world’s drugs are manufactured in India.
Besides the domestic market, Indian pharmaceutical companies also have a large chunk of their revenues coming from exports. While some organizations are focusing on the generics market in the US, Europe.
Compared to this, Indian companies have established their presence in the generics segment. Generics are low-cost versions of branded drugs and have the same medicinal effect as the branded or original drug. Once the patent period for a drug expires, companies can come in with generic versions of a drug which provides affordable medicines for consumers. India’s pharmaceutical sector is expected of success in near future.
Logistics in pharmaceutical sector is one of the most important stages of the operations for any pharmaceutical business as the activities are highly time sensitive. It is very critical for providing the right medicine to the right patient at the right time, place and most importantly at the right price. As the sector is highly competitive today’s time, achievement of company largely depends upon the efficiency of supply chain. Supply chain is very demanding as it maintains the complex network relationship between the organizations and its intermediaries
Pharmaceutical products need temperature-controlled storage and distribution. The industry has given importance to logistics by focusing on supply chain and logistic level activities such as delivering the product to the end-customer at right place, in undamaged mode and at a cutthroat operational cost. As these firms have come with new products having new aspect, they have started to set high goals for Logistics companies.
A consultant can help to map the key aspects of the supply chain and help in the correct documentation to resolve administrative, customs as well as transportation issues. Talk to us if you want to know how can we help you in your documentation. Call us on +919819220630 or email us on abhi@abhishekjdate-logistics.in
