Six Trends That Could Affect the Pharmaceutical Industry

The pharmaceutical industry faces enormous challenges at all times. Because:

1).The pharmaceutical industry is an overly regulated industry.

2).Innovations are relatively slow to be accepted because of the need to adequately ensure product safety;

3).Although it is an information age, pharmaceutical companies do not really share data;

4). We need the pharmaceutical industry to sell not just pills, but complete services.

Therefore, when the innovation comes, when the preventive health care of the whole people begins to put forward further requirements on the current business model of the pharmaceutical industry, it is possible that the reform of the pharmaceutical industry will come.

So, what are the trends and technologies that could have a huge impact on the future of the pharmaceutical industry?

1. Empowered Patients

Patients are becoming more autonomous, their health awareness increases, and they become more active in the management of their physical condition. Some may even want to get involved in the pharmaceutical industry and carry out their own clinical trials.

There have been such cases, such as the father of the muscular dystrophy patient. For pharmaceutical companies of solid biopharmaceuticals, all they can do for patients is to provide solutions. The protocol is problematic without the active participation of the patient’s father.

2. Augmented And Virtual Reality

We now read prescription and drug safety information through paper inserts. Soon, however, we may be able to read more drug information and other information through devices such as virtual glasses, Google glasses, digital touch sensors, etc. This is the change that digital 3D technology may bring to the pharmaceutical industry.

3. Truly Personalized Medicine

The medicines we get now are medicines made for millions of people. However, each of us has different genes and a completely different structure, so why can’t we get customized medicines?

What would the industry look like if our patients would become pharmacists and get printed-on-order medicines without the need for pharmaceutical companies? This leads to the next point:

4. 3D Printing

We can custom print prostheses, medical devices, biomaterials, and even now medicines. In the summer of 2015, the EMA approved 3D printed medicines. The Scottish team is working on finding a way to print medicines on demand. The realization of these technologies will bring huge changes to the pharmaceutical industry.

5. Body Sensors

The success of clinical treatment depends on what kind and how much data we can get over the years of the patient’s treatment.

Imagine if we were able to use digital tools and body sensor technology to obtain various types of parametric data, we would be able to make real, information-based decisions based on that data.

6. Cognitive computers Or AI

We can make better decisions by processing the vast amounts of data from treatment with supercomputers.

For the pharmaceutical industry, this could mean running clinical traces in seconds instead of decades, and no longer costing billions of dollars.

Using supercomputers to virtually analyze the physiology patterns of thousands of new drug molecules could spell the end of the era of human experimentation.

At the end of the video, the author’s point of view is also interesting. He said:

Many companies ask: What will the digital age bring to our industry?

Are we missing the train to board the digital age?

I told them: there is no train at all, but a universe facing change! If companies do not open innovative models with an open mind, do not cultivate talents in the corresponding technical fields, and do not change their thinking and business models, then what awaits them is their demise.

Therefore, pharmaceutical companies must actively embrace innovation while ensuring product safety.