Growing usage of advanced facilities such as real-time monitoring, temperature-controlled shipments for segments like pharma and healthcare will drive growth
Growing demand for urgent and time-bound delivery by major customers segments from the pharmaceuticals, banking sector, garments and FMCG, IT components and auto components form a considerable share of the potential for growth of the courier industry. The global courier industry is anticipated to reach $ 65.88 billion by 2021, according to a new report by Ngenko Investments. Reportedly, growing integration in the transport chain with an enhanced level of tracking and tuning facilities available for shipment deliveries across domestic and international borders has poised the sector to witness steady growth in the near future.
Furthermore, technological developments that include introduction and commercialisation of smart logistics such as RFID enabled inventory management, and automated robotic warehousing that enable current day market participants to provide greater reach, and more flexible services are features expected to drive demand. Growing usage of advanced facilities such as real-time monitoring, temperature-controlled shipments for specific high-value segments such as pharma and healthcare is also a factor expected to drive growth.
The pharma sector forms an important demand share that amounts to a global revenue stream of an estimated $3.55 billion in 2010. This has witnessed considerable demand over the latter half of the past decade primarily due to the advanced tracking, real time monitoring and cold chain delivery capabilities that have been made available by the courier industry. Key challenges faced by the pharma logistics such as supply chain visibility, IT integration and dynamic containment environment maintenance are the major issues that key industry participants have focused on resolving. The big four of the courier industry viz.; DHL, FedEx, UPS, TNT, are all expected to further develop and improve logistics services that they offer to the pharma and health sector.
With an estimated growth potential amounting to a CAGR of 3.3 per cent, the segment catering to the pharma industry may very well be worth $4.95 billion by 2021.
EP News Bureau – Mumbai
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