Rapid growth in demand for pharmaceutical storage solutions could lead to Yusen working with its competitors, the firm says as it opens a 40,000m2 warehouse in Thailand.
The logistics company announced last week its third warehouse in Laem Chabang, Thailand had commenced operations, pushing its total warehousing space in the country to more than 200,000m2.
Amongst other industries, the warehouse will service Thailand’s pharma and biopharma industries which, according to spokesperson Chatree Borrirakpatthanakul, “is a new addition to Yusen Logistics Thailand’s business portfolio.”
However, he told Outsourcing-Pharma.com, the pharma sector is extremely important to future development for the storage and logistics firm.
He said: “We have held discussions with thought leaders in the pharmaceutical field in Thailand and all are in agreement that demand for logistics services will be increasingly rapidly.”
However, Borrirakpatthanakul told us it “will be working extremely hard to gain market share” as the field is dominated by a number of competitors already.
“Our strategy is not purely to compete directly with existing big players,” he said. “This is a fast growing market and rapid growth in demand which could lead to solutions involving co-working and cooperation among the players."
Yusen's predictions about Thailand’s pharma and biopharma logistics markets - and its decision to increase capacity in the country - are in keeping with other moves the firm has made to expand in growing or emerging markets.
In April this year the firm told us that the African drug logistics market is a target, with business development manager Clive Lester explaining that: “With significant potential growth forecast over the coming 5-10 years due to the forecast of a very strong rise in disposable income, Africa is a major area of interest."