Pharmaceuticals have become a necessary expense for almost all Americans. Nearly 60% of all Americans are taking prescription drugs and 80% are taking over the counter drugs. According to statista.com, the total number of nominal spending on medicines in the US was $425 billion and projected to increase to $574 billion in 2019. As the industry continues to grow pharmaceutical manufacturers must keep up with the increasing demand.
There are high stakes in the supply chain process of pharmaceuticals. Not just anyone can handle the rigorous demands the pharmaceutical industry brings. Challenges include health and safety regulations, close temperature monitoring, product integrity and more. As pharmaceutical manufactures look to 3PLs to outsource logistics services, there are many things to consider besides price.