News

23 March 2018

UK Pharmaceutical Wholesale Sector To Grow by 2018

The number of pharmaceutical manufacturers is exceeding 3000 in the European market. Despite manufacturing over 50,000 products for 130000 retail outlets, wholesale sector experiences a high amount of pressure. The profit margin in the pharmaceutical wholesale products is just around 1% to 2%, which far less than that of other products that are retailed and distributed in the market.

The Pharmaceutical wholesale market is getting into a crucial era as several drug products are losing their patent protection due to low cost prototyped products are entering the market with an aim to offer more benefit at lesser price. With the advent of the generic products in the pharmaceutical market, medicine prices are likely to reduce notably. This will ultimately reduce the profit margins gained from the wholesale market.
Manufacturers of the United Kingdom have started following a brand new distribution model. This new distribution model seems to allow a limited number of wholesalers to take part in the pharmaceutical dispersion. The recent evolution has forced wholesale distributors to either adopt the change or leave the market. Thus, this new policy has resulted in a merger between the manufacturers and the wholesalers of the sector.

Novartis AG was the largest seller in pharmaceutical market with 4.5% share in the global drug market 2017. The list included Sanofi S.A., F. Hoffman-La Roche Ltd., Pfizer Inc. and Gilead Sciences Inc.

Novartis AG was the largest seller in pharmaceutical market with 4.5% share in the global drug market 2017. The list included Sanofi S.A., F. Hoffman-La Roche Ltd., Pfizer Inc. and Gilead Sciences Inc.

North American pharmaceutical market is considered to be the largest in the world with $341.1 billion net earnings. It has hold 36.5% share of the global drug sector. This scenario occurred due to the increasing demand for the affordable healthcare in the country. With 21.5% share, Asia-Pacific secures the second position in the global list.

Revenue generated by the pharmaceutical wholesale market is expected to experience a fair growth by the end of 2020, revealed by sources.

According to a report about the pharmaceutical wholesale market growth, it is forecast that within the next five years, the market will get stronger despite increasing volume of generic drugs. Revenue can be increased at an annual rate of 2.1% for the next five years. The total estimated amount is expected to reach to £38.5 billion. Thus, with the increase in aging population in the UK will definitely drive the hindered performance over the recent years.

Smartway is an MHRA approved wholesaler of pharmaceutical products with Wholesale Distribution Authorisation (Human & Veterinary) issued by the British Government

Smartway is registered with the General Pharmaceutical Council (GPhC). GPhC Registration No. 2068514. Pharmacy Registration No. 9010774

Smartway is in the list of non-ABPI member companies that voluntarily comply with the ABPI code of practice

Smartway has a Controlled Drug Licence (Schedule 2, 3, 4 [Part I & II] &5) issued by the Home Office department of the British Government

Smartway is an accredited supplier to the World Health Organization

Smartway is a proud member of both the London and Merton Chambers of Commerce