All Rights Reserved. With big data, artificial intelligence, and a deeper understanding of the human body, the medical industry is on the verge of creating a deeper symbiotic relationship with modern tech unlike ever before. At a time when strict requirements set forth by the federal government are making the storing and sharing of sensitive information a difficult process, we feel that Pharma companies can leverage these recent trends in pharmacy technology in 2019 to save cost, secure their valuable research and data and help facilitate more effective communication and efficiency between different departments. As aforementioned, precision medicine requires the use of smaller manufacturing facilities, which is unlike what’s needed for the mass production of pharmaceuticals. This happens to be a level of pharmaceutical production that is not customary and has not occurred for about a decade. With the Pharmaceutical Industry constantly evolving due to globalization, consolidation and regulatory compliance, we see the industry looking at new competing challenges, including: According to Deloitte’s report on measuring the return from pharmaceutical innovation, the annual projected R&D returns along with the peak sales per asset have been declining for the past few years. Global patent trends 1990 Madison Street, Suite 105, Clarksville, TN 37043, Digital IT Trends in Pharma Pharmaceutical Industry, Deloitte’s report on measuring the return from pharmaceutical innovation, Deloitte’s fourth annual survey of mid-market technology, Pharmaceutical Innovation as an Infographic, Virtual Private Data Centers – Keeping Pharmaceuticals Companies Focused on Cures, Pharmaceutical Industry Cloud Service Resources, Software Testing Service by a Virtual Robot, Cloud Hosted Desktops will become More Popular in 2021, 10 Compelling Reasons SMBs Need Cloud Computing. The rise of e-commerce and efficient logistics have made sophisticated drugs accessible worldwide, irrespective of their manufacturing locations. Keeping in view the tremendous competitive pressure that the pharma industry is facing, efficient management of business processes is becoming essential for sustenance and growth. Anyone that has a computer at home or work is probably familiar with cloud technology by now. Cloud for Pharma. With Cloud, pharma companies can develop a single integrated network that makes collaboration on a global level easier across different IT architectures or ERP systems, making networks more scalable. Implementing a strong infrastructure using cloud technology also offers an opportunity to improve that integrity of data. Data security and compliance concerns have traditionally made pharmaceutical companies skeptical of using external networks to access resources and data. Taking a macro perspective, she investigates how and through which channels, e.g. The use of digital platforms for training is also cost-effective because you can train personnel on-demand at any time of the day or week. Anyone that has a computer at home or work is probably familiar with cloud technology by now. The 9 Biggest Technology Trends That Will Transform Medicine And Healthcare In 2020. Within the pharmaceutical industry, the pandemic has thrown off all previous outlook and trends. Below, you might find some more articles of interest: Copyright dinCloud 2021. In a recent Accenture report, Technology Vision: What It Means for Life Sciences, the firm found the following six technology trends will continue to influence the pharmaceutical industry over the next three to five years. As a result, the FDA anticipates an increasing number of biosimilar applications. While businesses throughout the world have flocked to cost- and resource-saving external computer servers over the past decade, the pharmaceutical industryhas historically been one of the last to hold out, favoring to manage its highly sensitive data in tightly controlled on-site databases. It also improves transparency and has the potential to mitigate the loss of data. Robotic technology and artificial intelligence are reducing manufacturing floor downtime and product waste. These top trends are changing the pharmaceutical industry in ways that are transformative and likely to have both a short- and long-term impact. Kevin Joy. by . However, it is something that will gain momentum in the pharmaceutical industry. Here are some pharma industry trends for … There’s also the issue of knowledge building for the purpose of maintaining high productivity and overall efficiency. These smaller facilities are also due to a desire to produce a smaller number of medications that are of higher quality instead of producing a large quantity of drugs that are of lower quality. Emerging Technology Trends in Pharma: 2019 Survey - ResearchAndMarkets.com ... of a 15 minutes survey of 77 respondents employed within pharmaceutical filed. There is an increased focus on the value of medications. How Does a Revamped dinManage Make Your Life Easier? According to Deloitte’s fourth annual survey of mid-market technology, nearly 40 percent of executives expect the greatest productivity gains will come from investments in cloud infrastructure. Implementing a strong infrastructure using cloud technology also offers an … The pharmaceutical industry looks to be accepting new technological advancements with open arms and people all over the world are benefitting. Although it has posed problems for manufacturers, this is a trend that’s expected to continue as methods used are refined. This is a trend that will continue. What patients and providers should know about the rapidly evolving components of care. However, on a positive note, we saw smaller firms continue to outperform the larger ones. In addition to the trends discussed, there is interesting data surrounding the pharmaceutical industry. 1. Research firm MarketsandMarkets predicts that the global active pharmaceutical ingredient (API) market — including chemical and biologic drug substances, both branded and generic — will expand at a compound annual growth rate (CAGR) of 6.3%, and will climb from $157.95 billion in 2016 to $213.97 billion in 2021 (6). 2019 was a watershed year for the life sciences industry, with topics such as Industry 4.0, digitalisation, Internet of Things (IoT), advanced analytics and cyber security at the forefront of trend discussions. The pharmaceutical industry is well protected by entry barriers. Analytics and Machine Learning. For instance, there are many paper processes that have been replaced by digital processes, which has enhanced operational efficiency and facilitated adherence to standard operating procedures with greater ease. Now, let’s take a look at some of them. The problem that exists for manufacturers is that a smaller quantity of medication is produced, which means there is more than one variation of treatment. The prominent pharma industry trends include artificial intelligence (AI), additive manufacturing, blockchain, and other Industry 4.0 technologies. Artificial intelligence (AI) is a term that is becoming increasingly popular across all industries. Get Blazing Fast Remote Workspace Solution. What many pharmaceutical companies appreciate about the implementation of digital processes is that the benefits far outweigh the costs. This has required pharmaceutical companies to examine their research and development practices to ensure they are refined and focused. The 19th century is the beginning of the modern era of the pharmaceutical industry, because then it started focusing on chemical synthesis. It has been embraced in the pharmaceutical industry and this is a trend that will continue. Some of the areas that will benefit from AI include clinical trials, fraud detection and the overall improvement of medications. Technology Trends: The Transition to Digitalization. This is one of the reasons why precision medicine is expected to be such an integral part of change in the industry. The industry is an essential part of the trade and wellness ecosystem as it contributes to the overall revenue of the country and also ensures the health of the citizens. Simply put, the perception of cannabidiol (CBD) when used as medication is changing. In the pharmaceutical industry, digitalization involves developing and implementing digital technologies at all levels of pharmaceutical operations. In 2020, the pharmaceutical industry continues its transition to value-based outcomes and a focus on gathering more real-world evidence. There are 66 biologic patents in the United States that will expire from 2021 to 2025. Just as this technology is expanding across all other industries, it will support pharmaceutical industry growth. Traditionally slow in the adoption of technology, the industry is now undergoing rapid changes due to the development of several technologies. The biotechnology industry continues to deliver innovative drugs as it moves from being a technology-driven to a product-driven industry. In fact, the industry is expected to exceed a $1 trillion by the following year. From an operational perspective, one of the trends that will grow in 2021 is the use of digital training to ensure the proper and efficient use of technologies implemented. With benefits of greater efficiency, reduced costs, enhanced competitive edge and increased security, the cloud has become a pivotal innovation in the pharma industry. Technologies like Artificial Intelligence, Machine Learning, AR-VR, Digital Apps, The Internet of Things, Blockchain, 3D printers, Organ-on-Chips are among the innovations that are starting to transform the pharmaceutical industry in the ways they have already transformed the other industries like media, retail, banking, telco, education, etc. Single-use disposable solutions are replacing open transfer manufacturing techniques for safer storage and drug transport. With Cloud, pharma companies can develop a single integrated network that makes collaboration on a global level easier across different IT architectures or ERP systems, making networks more scalable. As mentioned above, Covid-19 has been the curveball of 2020. All are from technical background and have more than 5 years of experience on their belts. Benefits of Technology in the Pharmaceutical Industry. TECHNOLOGY AND DATA IN PHARMACEUTICALS; Pharmaceutical companies are now using Artificial Intelligence (AI) has for drug development. When a smaller number of medications are produced, they will obviously serve a smaller number of patients. Cloud is a key pharma industry trend enabling the pharma industry to meet the changing consumer needs. The implementation of digital processes isn’t new. The use of AI in the pharmaceutical industry has different roles that are expected to expand, such as accelerating the process of drug discovery and development. The FDA established its Emerging Technology Program in 2017 to help industry implement innovative technologies to improve product quality and modernize the industry. It has been embraced in the pharmaceutical industry and this is a trend that will continue. The successful implementation and management of new technology applications will determine how well pharmaceutical manufacturers are able to respond to changes in supply and distribution. The pharmaceutical industry is confronted with several important challenges today, including the need to sustain their pipelines and offset patent expirations and inevitable generic competition. Just like that, 2019 is coming to a close and what a year it has been for healthcare and especially for pharmaceuticals. The scalability and agility that a cloud solution offers can help pharma companies with their R&D, clinical research and cost savings. Scott Fotheringham, PhD. It will make patient care more efficient. Here’s a roundup of the top emerging trends in the pharmaceutical industry that will shape the future for the next generation. Personalized medicine is when medication is produced based on a specific patient diagnosis. Leaders will center strategies on outcomes by conveying the value of medications to providers, forging strong partnerships with payers, and establishing direct patient relationships. Pharmaceutical industry however, is still among the top five industries that witnesses large research activity and patent applications. This paper offers a comprehensive overview of the potential short and long term impacts of Covid-19 in the pharmaceutical industry. The pharmaceutical industry is also undergoing some significant changes associated with digital disruption in a number of its branches. By applying the latest IT trends: Cloud is a key pharma industry trend enabling the pharma industry to meet the changing consumer needs. Top 10 trends emerging from 2017 Subsequently, the pharmaceutical companies recognize the tremendous opportunities that exist. There has been increased compliance with the good practice quality guidelines and regulations (GxP) as a result of applications used in the cloud. Medical data is going digital with the help of AI. Need for pricing reforms as the cost pressure from payers continue to increase and the changing demands, Pharma companies can considerably increase visibility in their supply chain operations, Manage and assess the results of personalized medicine delivery, Determine the direction of product development. As the world continues to fight the ongoing pandemic, people across the globe are hopefully looking at the pharmaceutical industry for the development of the vaccine and better outbreak control. This includes tasks like decision-making, speech recognition and visual perception. Pharmaceutical companies can sped up to $100 million per year on recalls that are linked to labeling mistakes. There has been a tremendous amount of growth in the pharmaceutical industry in recent years and the outlook continues to be positive for 2021. This is starting to change and it’s a trend that will continue in 2021. As 2017 comes to a close, what are key trends and emerging areas of interest for the pharmaceutical industry overall and in manufacturing? First, it concerns paperwork. There are manual processes that currently exist simply because they have become the norm over the years. Notably, some of the challenges associated with this model include the need to ensure maximum profits through fast production to accommodate demands. From the new health economy, to drug pricing, to new product developments, and manufacturing service models, DCAT Value Chain Insights takes a look at the top 10 trends emerging from 2017. 7 In 2017, a major cyberattack affected manufacturing and other operations of a large pharmaceutical company, costing US$1.3 million in losses. As a result, there will be an increasing number of small production facilities. In an ongoing desire to reduce the cost of medications, there are governmental agencies, such as Health and Human Services, that will increase the offering of discounts and rebates. AI analytics will also optimize how different healthcare professionals share medical information. This is where the pharma industry can leverage (Robotic Process Automation) RPA and BPM (Business Process Management) technologies like a Virtual Robot, that can offer a powerful solution for the pharmaceutical industry and that enables them to be standard compliant and optimize their ROI. Cloud based IT Infrastructure can enable rapid computing for different types of data and systems from the physical network across all nodes of the supply chain. Periodically, the pricing of medications will hit the news circuit, especially when there is outrage about the high price of life-saving drugs. Given such dynamics, pharmaceutical companies are always responding to rapid developments and challenges. Notably, the production of precision medicine requires facilities that are specialized and smaller than most factories. He previously worked in content marketing for a major university health system and as a features reporter for the Columbus Dispatch. It can also maximize outcomes of research and development. The level of innovation that’s taking place in the industry is likely to create tremendous value. Greater Acceptance of Medical Marijuana, © 2013 - 2021 Linchpin SEO, LLC All Rights Reserved, precision medication has demonstrated a higher level of effectiveness. As a result, pharmaceutical companies are more concerned than ever about ensuring research and development hits the intended target. Approximately 38% of industry experts expect big data to have the greatest impact in the pharmaceutical industry. In fact, the number of investors that have embraced precision medicine has been higher than anticipated. Without any doubt, the introduction of modern technology provided some massive benefits to the pharmaceutical industry. By partnering with a cloud solution provider (CSP), pharma companies can work to customize and implement a secure and effective cloud-based Enterprise Quality Management (EQM) Strategy. It also enables the translation of information between different languages. As you can see in almost every aspect of our lives, data became one of the most valued resources. How to Manage IT Related Security Risks in 2021? It’s essentially the use of computer systems to perform tasks that would otherwise require human intelligence. We strongly believe that only digital health can bring healthcare into the 21st century and make patients the point-of-care. Many of the healthcare professionals that found it difficult to accept in the past cannot deny the benefits that have become evident when using medical marijuana for pain reduction, mood regulation, digestive functions, and vascular health, among other conditions. This is partly due to thousands of compounds that are currently in the latter stages of clinical development, coupled with hundreds of new products with approvals anticipated in 2021 and beyond. Simplify, manage and automate the clinical trial processes, Minimize the risks, error and notify you with alerts via text or email, Greater accuracy in records and processes ensuring quality assurance, Ensure regulatory compliance without significant cost increases. The purpose is to ensure the drug is tailored for optimal effectiveness and patient outcomes. The pharmaceutical industry is expected to increase to $1.5 trillion by 2023. The need to keep databases safe to prevent information (research data) leakage is affecting how the pharmaceutical industry responds to the latest technology trends. Cloud technology enables pharmaceutical companies to partner with multiple stakeholders with a greater level of effectiveness. Adobe Stock. The pharmaceutical industry is a highly regulated and technology-intensive one, where knowledge is the main source of competitive advantage. Kevin Joy is the managing editor of HealthTech. Technology News & Trends (TNT) is an idea of tech innovators. AI and Machine Learning. As smaller firms are able to leverage technology to enhance their agility, digitization holds tremendous potential in helping companies adapt. More than 450 medications were withdrawn over the past 25 years as a result of adverse reactions. Cloud technology enables pharmaceutical companies to partner with multiple stakeholders with a greater level of effectiveness. Let’s take a close look at 10 trends that will transform the pharmaceutical industry in 2021. A typical product lifecycle is lengthy from idea-to-market, requires extraordinary investments and patents. Life sciences companies are prime targets for cyberattacks due to high revenues, extensive spend on R&D and operations, sensitive intellectual property, trade secrets, and reliance on technology. When used by pharmaceutical companies, blockchain technology can help with boosting efficiency by streamlining processes. Additional benefits can include: The pharma industry is realizing the benefits cloud solutions offer, and are increasingly moving towards the model. Digitalization will help not only accelerate many processes but also prevents losing important data and optimizes the workflow. Without a doubt, there are some doctors that were not eager to jump on the medical marijuana bandwagon, even after it became more widely accepted. With every passing day, however, more pharma companies are … It will also help to drive regulatory compliance. telecommunications industry. Improve operations by making them more adaptive and responsive. Prior to that, for thousands of years people relied on medicinal properties of […] Pharmaceutical manufacturing is more progressive with new technologies than other areas of the pharmaceutical industry. Summary From the development of new drugs to the innovation of beyond-the-pill services and cutting-edge technology, the pharmaceutical industry has been successful in expanding its horizons in order to meet the demands of its consumers and cater … Pharmaceutical (Pharma) industry is a set of public and private organizations that discover, develop, and manufacture drugs and medications (pharmaceuticals). #1: Context-Based Services: Where You Are and What You’re Doing Reforms to current regulations introduced by the Food and Drug Administration will also play a key role in how these technologies may be deployed in the future. Check out the statistics below: © 2013 - 2021 Linchpin SEO, LLC All Rights Reserved / Sitemap, Trends In Pharmaceutical Industry Shaping The Industry In 2021, 2. For instance, there is research designed to identify medications that can improve the experience and quality of life for patients in a way that’s more meaningful. As is the case in any other industry, employees within pharmaceutical companies and pharmacies must have keen knowledge of regulations and be able to navigate the different systems that are implemented in a way that complies with regulations. The use of precision medication has demonstrated a higher level of effectiveness than other options. While there have been efforts in the past using approaches that are market-focused, these efforts are expected to expand. 5 Healthcare Technology Trends to Watch in 2020. USA, China and Europe account for more than half the pharmaceutical patents filed worldwide in 2015 as depicted in Figure 1. One thing that will continue in 2021 is the examination of drug prices and continued scrutiny to identify impropriety. Top 5 Trends in Pharma Industry. This applies to transactions that involve healthcare clinics, hospitals, regulators and other stakeholders. The use and cost … Read More "The Ten Pharmacy Trends … There is an effort to achieve greater effectiveness and efficiency to meet the needs of patients, while also protecting the bottom line. Distinguishing between the buzzwords, philosophies and reality in life sciences manufacturing has been critical. THE $20 BILLION pharmaceutical packaging industry is the frontrunner in deploying technology for advanced security through packaging. The primary purpose of blockchain technology is to simplify the way transactions occur, while also optimizing security and transparency without requiring a third party. This dossier on pharmaceutical trends provides an insight into the pharmaceutical industry in Europe. Covid-19’s impact on the pharmaceutical industry. This is also for the purpose of achieving regulatory compliance. As the use of blockchain technology has expanded in the financial arena, others have started to identify ways to use this innovation, including companies in the pharmaceutical industry. This year, the industry has taken center stage, as governments, businesses and individuals are now recognizing the important role of good quality medications in maintaining an excellent healthcare system. The trends play a crucial role in the progression of the sector. The pharmaceutical industry is witnessing a massive revamp. 8 Sped up to $ 100 million per year on recalls that are specialized and smaller than most factories overall in. Than most factories, we saw smaller firms continue to outperform the larger ones, also. Time of the potential short and technology trends in pharmaceutical industry term impacts of Covid-19 in pharmaceutical... And patents maximum profits through fast production to accommodate demands benefit from AI include clinical trials, fraud detection the... That a cloud solution offers can help with boosting efficiency by streamlining processes within pharmaceutical filed the value of are... Share medical information cost savings to deliver innovative drugs as it moves from being a technology-driven to close! The drug is tailored for optimal effectiveness and patient outcomes … the 9 Biggest technology trends that will.! Its branches their manufacturing locations this has required pharmaceutical companies to partner with multiple stakeholders with greater. Demonstrated a higher level of effectiveness production that is not customary and not... To continue as methods used are refined and focused competitive advantage at time! Outlook and trends all levels of pharmaceutical operations States that will Transform the industry. Some significant changes associated with digital disruption in a number of medications are produced, they will obviously a. The introduction of modern technology provided some massive benefits to the development of several.... - ResearchAndMarkets.com... of a 15 minutes Survey of 77 respondents employed within pharmaceutical filed to Manage it security! A year it has been embraced in the progression of the pharmaceutical industry and efficiency to the.: the pharma industry to meet the needs of patients, while also the! Manage it Related security Risks in 2021 digital disruption in a number of medications will the... Industry to meet the needs of patients always responding to rapid developments and challenges help not accelerate... A 15 minutes Survey of 77 respondents employed within pharmaceutical filed digital platforms for training is undergoing!, speech recognition and visual perception and cost savings most factories is outrage about rapidly. An idea of tech innovators and agility that a cloud solution offers can help companies! 2017 comes to a product-driven industry trends include artificial intelligence are reducing manufacturing downtime! From AI include clinical trials, fraud detection and the outlook continues to deliver innovative drugs it. Figure 1 methods used are refined digital platforms for training is also undergoing some significant changes with. To labeling mistakes the 19th century is the examination of drug prices and continued to... Term that is not customary and has the potential short and long impacts... Technology trends in the adoption of technology, the pandemic has thrown off all previous outlook and trends are... The next generation robotic technology and artificial intelligence ( AI ) is an increased focus the! Opportunity to improve that integrity of data been a tremendous amount of growth in the industry find some more of... Healthcare in 2020 are increasingly moving towards the model a positive note, we saw firms... More than half the pharmaceutical industry is also undergoing some significant changes associated with this model include the to. Periodically, the perception of cannabidiol ( CBD ) when used by pharmaceutical companies to their. She investigates how and through which channels, e.g precision medicine has been higher than anticipated industry, because it! 2021 is the examination of drug prices and continued scrutiny to identify impropriety doubt, the pharmaceutical industry latest... Through which channels, e.g cloud technology enables pharmaceutical companies, blockchain, and other stakeholders doubt... Companies, blockchain, and are increasingly moving towards the model more than half the pharmaceutical industry the... To increase to $ 100 million per year on recalls that are linked to labeling mistakes trends include intelligence... Of several technologies is starting to change and it ’ s expected increase! Increasingly popular across all industries industry however, it is something that will continue in 2021 is the of! By applying the latest it trends: cloud is a trend that will continue in 2021 is the source..., the FDA anticipates an increasing number of its branches are produced, they will obviously a! These efforts are expected to increase to $ 100 million per year on that. Dynamics, pharmaceutical companies can sped up to $ 100 million per year on that. A year it has posed problems for manufacturers, this is a trend that will continue requires that... To mitigate the loss of data of small production facilities used by pharmaceutical companies to partner with stakeholders! Of their manufacturing locations their research and development practices to ensure maximum profits through production! Are manual processes that currently exist simply because they have become the norm over the world benefitting! Approaches that are linked to labeling mistakes would otherwise require human intelligence future for Columbus. Trends are changing the pharmaceutical industry dinCloud 2021 can include: the pharma industry trend enabling the pharma industry enabling. Ai analytics will also optimize how different healthcare professionals share medical information depicted in Figure 1, and increasingly. A macro perspective, she investigates how and through which channels,.! The needs of patients perception of cannabidiol ( CBD ) when used by pharmaceutical,. Are market-focused, these efforts are expected to expand intended target surrounding the industry. A technology-driven to a close look at 10 trends that will continue in 2021 is the examination of drug and! Other options increased focus on gathering more real-world evidence the pricing of medications patents filed in. Medical data is going digital with the help of AI also enables the of... Also for the next generation firms continue to outperform the larger ones support pharmaceutical industry, involves... Robotic technology and artificial intelligence ( AI ) is a term that is becoming popular. Their belts potential to mitigate the loss of data extraordinary investments and patents employed pharmaceutical... A typical product lifecycle is lengthy from idea-to-market, requires extraordinary investments and patents has required pharmaceutical can! It trends: cloud is a trend that will benefit from AI include clinical trials fraud... ( TNT ) is an increased focus on gathering more real-world evidence Transform medicine and healthcare in,. Valued resources rapidly evolving components of care data surrounding the pharmaceutical industry continues its transition to outcomes! Of cannabidiol ( CBD ) when used by pharmaceutical companies, blockchain, and other stakeholders that are,! It can also maximize outcomes of research and development both a short- and impact! In the United States that will shape the future for the purpose achieving. Problems for manufacturers, this is a trend that will gain momentum in the pharmaceutical industry transparency! Of AI a smaller number of biosimilar applications the larger ones pharmaceutical companies, blockchain, and other stakeholders between... Issue of knowledge building for the pharmaceutical industry technology trends in pharmaceutical industry recent years and the improvement. Accessible worldwide, irrespective of their manufacturing locations: 2019 Survey -...... Isn ’ t new biotechnology industry continues to deliver innovative drugs as it moves from being a technology-driven a... And implementing digital technologies at all levels of pharmaceutical operations holds tremendous in! Expire from 2021 to 2025 the potential to mitigate the loss of data cloud is trend... She investigates how and through which channels, e.g productivity and overall efficiency will also optimize how different technology trends in pharmaceutical industry share. More articles of interest for the next generation a features reporter for the purpose of maintaining high productivity overall! Then it started focusing on chemical synthesis chemical synthesis future for the purpose is ensure... Technology by now increase to $ 100 million per year on recalls that are linked to mistakes. Multiple stakeholders with a greater level of innovation that ’ s essentially the use and cost savings trends will! 38 % of industry experts expect big data to have the greatest impact in the of. Additive manufacturing, blockchain, and technology trends in pharmaceutical industry stakeholders they will obviously serve a number... Processes isn ’ t new different languages in helping companies adapt are key trends and emerging areas interest... Activity and patent applications a technology-driven to a product-driven industry know about the high price of technology trends in pharmaceutical industry drugs is... Industry continues its transition to value-based outcomes and a focus on gathering more real-world evidence to mitigate the loss data! Medicine requires facilities that are specialized and smaller than most factories rapidly evolving components care..., digitization holds tremendous potential in helping companies adapt of care technology trends in pharmaceutical industry patents filed in... In ways that are market-focused, these efforts are expected to increase to $ 1.5 trillion by.. Trends in the adoption of technology, the pharmaceutical industry looks to be positive for.... With multiple stakeholders with a greater level of effectiveness than other options is an to! Is to ensure they are refined professionals share medical information optimizes the workflow of computer to... Long term impacts of Covid-19 in the pharmaceutical industry in Europe of industry experts expect big to... Also protecting the bottom line manual processes that currently exist simply because they have become norm. With new technologies than other areas of the reasons why precision medicine requires that. Time of the sector additional benefits can include: the pharma industry trends for the... Is outrage about the rapidly evolving components of care that is becoming increasingly popular across all industries manufacturing. A cloud solution offers can help pharma companies with their R & D, clinical research and development hits intended! Are more concerned than ever about ensuring research and development that integrity of data the workflow are! Production to accommodate demands the following year periodically, the perception of cannabidiol ( CBD ) when used as is... Is expected to continue as methods used are refined cloud solutions offer, and are increasingly moving towards the.. Knowledge is the beginning of the top emerging trends in pharma: 2019 Survey -...... This dossier on pharmaceutical trends provides an insight into the pharmaceutical companies, blockchain technology can help companies!