World’s largest package delivery company, United Parcel Service Inc. is eyeing the growing demand for healthcare products in China. The company has opened a specialist facility in Hangzhou, which is the capital of Zhejiang province, which will be handling shipments of various medical products.
In 2011, Chinese market surpassed Germany and became the third-largest pharmaceutical market, with an estimated value of $64 billion. It is also expected that China will overtake Japan and become the second-largest market in 2015. In recent times, Chinese market was voted as the market with most opportunities for expansion by executives surveyed for UPS’s fifth annual study called Pain in the Supply Chain, which represents a worldwide survey of issues and opportunities in the industry.
The new facility consists of 22,000 square meters of storage space and is specifically designed in order to meet the demands of storage of medical devices, pharmaceuticals, biologicals and distribution needs of pharmaceutical companies.
Jim Barber, UPS’ international president said that the facility is designed to maintain product safety and integrity by offering seamless worldwide operation for healthcare companies.