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Digital transformation in the pharmaceutical industry: a new era in drug production
Now we’re facing unprecedented growth in pharma during the last few years and this tendency will last in the future.
20:18 03 January 2023
Now we’re facing unprecedented growth in pharma during the last few years and this tendency will last in the future. The industry is expected to reach $1 trillion in 2023. One of the main reasons for such boosting volumes is the new products' appearance and the completion of multiple drug manufacturing projects.
Pharma companies should adapt to new demands improving flexibility, scalability, and clients’ relationships. And that is almost impossible without digital transition. The faster organizations will execute new strategies and prepare employees for necessary modernizations, the sooner they’ll benefit.
The importance of Pharma’s modernization
What do patients wait for from pharma brands? The possibility to find a reliable, effective, and expensive cheap cure as fast as possible, and receive comprehensive answers about drug tests, results, and side effects. And digital transformation in the pharmaceutical industry is called to meet all these requirements in the most beneficial way for both sides.
With the latest technological approaches, like recognition of natural language, the internet of things, and AI, pharma enters a new evolutionary era with monotonous tasks automation, fast drug discovery, improved trials, and excellent customer experience.
Pharma is one of the most regulated areas when it comes to production, distribution, and marketing. With digitalization, it will precisely analyze customers' needs and develop custom treatments based on specific patients' conditions without crossing law boundaries.
By applying new technologies, like health apps, companies will open new data sources including the latest users' expectations and treatment outcomes. By monitoring customers' feedback organizations will receive transparent up-to-date insights about product reliability and efficiency.
With the help of cloud technology businesses will get better data integrity and share news about their products and trials for publicity. Stakeholders will learn reliable information firsthand.
Main directions in Pharma’s evolution
Digitalization has gone far beyond simply moving from manual processes. The main directions innovative technologies changed the way today’s pharma operates are the next:
- Research work and treatment testing become more productive. Using ML now it’s easy to find healthcare specialists in the nearby area or get clients' genetic data, which is useful for testing and boosting predictive medicine.
- Acceleration of drug production. With the ability to make valuable conclusions from a huge volume of raw data specialists get detailed results in learning the positive and side effects of the treatment.
- AI made it possible to decrease the discovery period, which could last for dozens of years. New tools now allow for filling gaps in research projects and result in faster treatment production and distribution.
- Manufacturing becomes more cost-effective due to involving progressive technology and improving machine-human interactions.
- Pharma organizations can provide disease assessment with unified access to data and diagnostic channels.
How does digital consulting help organizations with solution development?
Partnering with experts in pharma and technology spheres, like Avenga, companies receive well-thought transformation plans, valuable insights on process optimization, and 24/7 support. IT experts help to discover the most scalable, flexible, and efficient way to reorganize enterprise systems for receiving viable results at affordable costs.
Consulting services find a suitable tech stack aimed at achieving business goals and keeping competitiveness in the market. Implementation of new technologies allows the adoption of solutions that were not available before and strengthens collaboration throughout the supply chain.