Advancement and innovation in the Pharma industry is the need of the hour. We are struggling through the bewilderment to find a cure to the global pandemic Covid-19. Thanks to all the healthcare and medical professionals who worked tirelessly to come up with the respective vaccine.
Besides all the efforts of the medical professionals, a set of thanks also goes to the developing trends in the Pharma industry! It is because of such great and continuous revolutions and innovations that we are here with the best medicinal or pharmaceutical support for every individual need.
Let us uncover those trends and innovations that rule the Pharma Industry in 2021!
The first and the foremost is the development of Artificial Intelligence. To be simple, it represents the use of high-end technologies that are continuously evolving to become better each day. It helps meet the challenges of the pharma industry like automation, and optimization of various processes- manufacturing, operating, etc. AI has also aided in formulating the best and effective design of marketing and strategies after the launch. AI helps in the study of medicine- making it easier and quicker. The industry can analyze the patient far better than earlier that leads to the development of advanced and potent drugs and smooth clinical trials. The entire process becomes convenient, easier, and cheaper with the proper integration of AI into the system.
Big Data & Analytics
As the Pharma Industry grows, the data and the respective analysis becomes necessary. With a wide scope of study on drugs and the development of drugs, a large volume of data is accumulated. And, this calls for a high-end set of software technology to analyze it meticulously in order to derive certain value from it. The industries have turned digital and thus they are open to the third parties to hand over the responsibility of data management, making the latter the important aspect of the pharma industry. Moreover, the advancement in recent techniques and technologies has made analysis important and smooth. The historical and real-time data pertaining to the pharmaceutical industry has turned into valuable assets. The analysis becomes predictive, prescriptive, diagnostic, and descriptive.
With the advancement of technologies, the method of production has improved quite a lot too. The pharma industry is changing its production style due to the shifting market dynamics. For instance, small batches of precise medicines. The single-use technology in the case of pharmaceuticals is gaining much popularity- simply because it has reduced downtime and enhanced productivity; also eliminating the need to clean and validate at every production stage. On the other hand, the new bioreactors and the manufacturing processes are also the focus area of pharmaceuticals. Therefore, besides, reducing the downtime, they also help in low energy consumption, higher productivity, and minimizing the number of wastes.
As we know that each individual is unique and one size does not fit all! With these two concepts in mind, the idea for precision medicine arose. Each patient is regarded as unique. Even more so, the omic and the data analysis bring more new information linking the human body and drugs. The revolutionizing manufacturing methods like additive manufacturing have enabled us to make personalized medicine a reality. With the infusion of the right pharmacokinetic and pharmacodynamic, medicines are manufactured based on age, sex, and other clinical parameters.
As the need for precision medicine is increasing, it gives rise to additive medicine. This further makes pharmaceuticals companies rework the drug manufacturing process. 3D printers that print human cells and tissues are under research. Additionally, it will have its applications in the development of drugs, organ engineering, and produce regenerative medicine. Bioprinters will also enable the origin of human cells, and tissues leading to the innovation of bio-inks, microfluidics, and tissue engineering.
Blockchain is now an essential part of the pharmaceutical industry- at every production and distribution stage of drugs. Like any other industry, the pharma industry has its own set of stakeholders who are secretive about the data. The block technology helps in handling and tackling the uses of counterfeit medicines and drugs of a substandard level that can enter the pharmaceutical chain and be lethal to thousands of patients. The blockchain offers a promising solution to keep track of and secure the ecosystem of pharma transactions.
Extended Reality (XR)
Augmented Reality (AR), Virtual Reality(VR), and Mixed Reality(MR) have made visualizations better than ever. The Pharma Industry enthusiasts are exploring the possibilities of inclusion of technologies in manufacturing and research aspects. The extended reality tools are potent to bring data-rich and real-time interaction among the teams for research.
Other things that bring revolution in the pharma industry are- Real World Data (RWD) and Real-World Evidence (RWE). RWD includes the data concerning the health of the patients, treatments, and routinely collected health reports. The pharma industry has a research-intensive nature which makes the data an important aspect. Therefore, it is important that the data should be of real value and reliable. Moreover, the availability of sensors, the internet of things (IoT), and other wearables are reforming the way to the pharma industry.
Digital therapeutics in the pharma industry have changed ways of treatment in a multitude of illnesses. These deliver evidence-based interventions with the help of software to manage, prevent or even treat physical, mental, and behavioral issues. The tech-driven non-pharmacological solutions are either used alone or complementary with other devices, therapies, or medicines. The individual can have greater control over the outcomes and health.
This is a real revolutionary shift in the pharmaceutical industry. It has shifted the industry from managing the disease to curing the diseases. For instance, curative therapies involving genes and cells are revolutionizing the way illnesses were treated by eliminating the need for prolonged treatment. One such curative therapy is ‘gene therapy’- genetic material is introduced in the cells to eliminate the bad gene and make a beneficial protein in the body; genetically engineered viruses are the most commonly used carriers.