Pharma Industry Outlook: What’s Next for the Leading US Sector
The pharmaceutical industry in the United States is a powerhouse of innovation and one of the largest in the world. In fact, the USA is among the world’s largest producers and exporters of pharmaceutical products, contributing significantly to the country’s economy.
Although many associate the pharmaceutical industry with medication, it actually covers a much broader range of products such as medical supplies, devices, and raw materials used to make these products. Essentially, any product sold by pharmaceutical companies that requires refrigeration must be shipped in refrigerated containers. Unlike produce, which is considered a seasonal commodity, pharmaceuticals are a constantly moving product in the supply chain. Regardless of the time of year, you can always expect pharmaceuticals to be in transit, making them a reliable and steady source of cargo within global markets.
Ensuring the safe and efficient transport of these life-saving goods to international markets is no easy task. Pharma exports involve a highly complex network of manufacturers, distributors, and logistics providers who all work in close collaboration to ensure a reliable supply to the market.
The value of pharmaceuticals extends far beyond their production. Here are several reasons why pharmaceutical products are regarded as high value when shipped internationally:
- The primary concern when shipping pharmaceuticals is stability, as most of these products are sensitive to heat, light, and require a precisely controlled temperature environment to preserve their quality and effectiveness once they arrive at their destination. Any temperature fluctuations during transportation may cause potential damage to the entire shipment.
- The pharmaceutical industry operates in a complex regulatory environment, with manufacturers required to adhere to numerous regulations in order to ensure the safety of their products. This adds value to the products, particularly during international shipments where compliance with various standards in different countries is necessary.
- The timely and reliable delivery of pharmaceuticals and medication is essential to ensure patient safety and the well-being of those who rely on them, further increasing their value when shipped worldwide.
The responsibility of providing life-saving medications to people all over the world is immense, and ZIM is up to the challenge. Over the past two years, there has been an increase in the utilization of the ZIMonitor, owing to its improved availability at primary ports in the USA. Moreover, these sophisticated containers are now exclusively used by ZIM for shipping all chilled goods out of the USA. This comes to show the advancements in technology that have revolutionized the transportation of goods, particularly those that require precise temperature control.
Michael Mazzilli, who has been handling pharmaceutical exports to Asia and Latin America from New York and Savannah ports for the past four years explains the benefits of using this technology in the pharmaceutical cold chain:
“The innovative services provided by our ZIMonitor along with the most recent investment in our refrigerated units, which have an average age of less than four years, allow customers the ability to have complete control over their cargo, with online access to data, GPS tracking features, and temperature deviations, making it easy for them to keep an eye on their cargo 24/7. As a result of these advancements and faster transit times, more companies are choosing to transport their goods by sea versus air due to our top-notch service which will ensure that their goods arrive on time and as expected.”