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Pantos Sets the Global Standard in Pharmaceutical Logistics with CEIV Pharma Certification
- Korea’s first logistics company to receive Pharmaceutical Air Transport Quality Certification and other international certifications
- Anticipated surge in K-logistics in the global pharmaceutical logistics market, previously dominated by multinational companies like DHL and FedEx
- Prospects for expanding further cargo opportunities involve tapping into the pharmaceutical export logistics market, which is experiencing an average annual growth rate of 18%
Pantos (CEO: Choi Won-hyuk) is accelerating its entry into the global pharmaceutical logistics business by obtaining a series of international certifications required for pharmaceutical logistics.
On June 11, 2020, Pantos announced that it had become the first Korean logistics company to acquire CEIV Pharma certification from the International Air Transport Association (IATA) for pharmaceutical air transport quality.
CEIV Pharma (Center of Excellence for Independent Validators Pharma) is an international standard certification system issued by the International Air Transport Association (IATA) to ensure the stable air transport of pharmaceuticals under strict cold chain management. The certification is issued only after a rigorous assessment of 285 items in 12 categories, including pharmaceutical transport procedures, facilities, specialized personnel, and regulations. Hence, the certification signifies that the entire process of handling pharmaceuticals by air cargo operators meets all requirements of the pharmaceutical industry.
Unlike general cargo, pharmaceuticals require high-level handling due to concerns about deterioration at room temperature, necessitating low-temperature transport and refrigerated storage. Certification from international organizations is essential for logistics companies handling pharmaceuticals. CEIV Pharma certification meticulously verifies the temperature management capabilities of logistics companies. Through this certification process, Pantos has demonstrated the establishment of a rigorous management system that complies with all international standards for storing and transporting temperature-sensitive pharmaceuticals.
Pantos is the only Korean logistics company to have received this certification to date. Before Pantos, major Korean airlines—Korean Air and Asiana Airlines—and Incheon International Airport, obtained this certification in 2019.
This certification follows Pantos’s acquisition of ISO 13485 certification for its medical device quality management system in 2019, reinforcing the company’s commitment to excellence in the healthcare logistics sector. The ISO 13485 certification, an internationally recognized standard, attests to Pantos’s specialized management and quality control systems in the medical device industry, ensuring a consistent and superior level of service. To obtain this certification, a company must have a quality management system capable of preventing all potential issues throughout the supply, storage, and distribution process of medical devices, thereby securing consistent service.
By continuously obtaining international certifications, one after another, in pharmaceutical and medical device logistics, Pantos aims to strengthen trust within the domestic and international pharmaceutical industries, positioning itself as a reliable partner in the pharmaceutical logistics supply chain. Moving forward, the company’s strategic move into the global healthcare logistics business is expected to gain momentum, offering comprehensive and high-quality solutions to the evolving needs of the pharmaceutical sector.
In January 2019, Pantos ventured into the healthcare logistics market by acquiring the healthcare logistics business division of DKSH Korea, a multinational company based in Switzerland. Drawing on its differentiated service quality management system and a global network spanning 360 locations worldwide, Pantos is poised to engage in aggressive domestic and international business activities, intensifying competition in the global pharmaceutical logistics market, which is currently dominated by multinational logistics giants like DHL and FedEx.
As of 2018, the global pharmaceutical market was valued at $1.2 trillion, with a remarkable average annual growth rate of 5.2% over five years spanning 2014 to 2018. Projections suggest that this market is set to expand further, reaching an estimated $1.485 trillion in 2021*.
With a combined value of $76.4 billion in 2018, the pharmaceutical, bio, and healthcare logistics markets are expected to constitute approximately 3.5% of all global freight volume by 2025. Notably, the pharmaceutical transportation sector stands out as the fastest-growing segment in the air cargo market, with the export market of Korean pharmaceutical companies exhibiting a steady average annual growth rate of 18% over a five-year period spanning 2014 to 2018.
(Sources: QuantilesIMS, Grand View Research, Korean Ministry of Food and Drug Safety)
Lee Yong-ho, vice president of Pantos, expressed confidence in the company’s trajectory, stating, “With Pantos securing pharmaceutical air transport quality certification from the IATA, we have positioned ourselves advantageously in the high-growth, high-value pharmaceutical logistics market. Our focus moving forward will be on expanding our marketing activities, as well as targeting major shippers in the domestic and international pharmaceutical, bio, and healthcare industries, to achieve significant milestones in a global pharmaceutical logistics market [traditionally] dominated by multinational logistics companies.”
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[Photo Caption] Vice President Lee Yong-ho of Pantos (left) receiving the CEIV Pharma certification from Kim Baek-jae, Country Manager of IATA Korea (right), at the Pantos headquarters in Gwanghwamun, Seoul, on June 10, 2020, followed by a commemorative photo shoot.