How Technology Transform the Pharmaceutical Industry in India

Sameer Bhalla
Founder, CEO
Septalyst Lifesciences

This article presents an overview of changing pharma industry landscape and how using the new technologies help pharma industry to connect better with their key stakeholders like patients, healthcare providers, regulators, governments, payers and the society at large.

Market in general, has been greatly impacted by the might of technology and the Pharmaceutical sphere is not lagging behind. Catalysts such as Mobile communications, the cloud, advanced analytics, and the Internet of Things has influenced the way pharmaceutical industry operates, with players opening their visions to the disruptive potential. Yet many find it hard to determine what initiatives to scale up and how, making it a precarious yet enriching ally to bring on the table. Here are a few Trends reshaping healthcare:

Patients are becoming more engaged

In the current digital age, patients are increasingly able to take greater control of their own health, decreasing the blind dependence on prescriptions to a minimal level. They feel empowered by the vast amount of health information available online and on apps. With an array of health and fitness wearables such as FitBit and Apple Watch, consumers have grown confident in their ability to take responsibility for their health, alongside becoming keener to evaluate different healthcare products and services, making it patient engagement a key to the success of any pharma organization.

Digital-centric competitors are moving in

Insightsinto clinical pathways are no longer the prerogative of the traditional healthcare establishment, as technology companies such as Apple, IBM, and Qualcomm Technologies moving into healthcare with their vast array of solutions to aid consumers. These are able to engage with patients through apps, health and fitness devices, and online communities, collectingpetabytes of datawhile capturing valuable insights. Pharma companies need to optimally position themselves for competition/collaboration, while building complementary capabilities.

More information is available about product performance

Gone are the days ofpharma companies controlling both the generation and dissemination of information as Digital technologies spurred an array of new, independent information channels for sharing and discussing patients' experiences, advanced data aggregation and analysis to link disparate, complex data sets and generate new insights into drug safety and efficacy. Players are building channels to anticipate these new sources of evidence, and respond efficiently.

Efficiency and agility is improving dramatically

Advanced analytics, sensors, and the automation of complex decisions are delivering a remarkable change in the efficiency, speed, quality, and responsiveness of the pharmaceutical operations. Players are deploying next-generation technologies to streamline their business processes, through championing real-time transparency of their clinical-trials and frictionless sales and operations planning, while satisfying new expectations in efficiency and agility from customers, employees, patients, and suppliers.

Personalized care

The ability to personalize interactions with stakeholders may have been a fodder for post 70’s science fic fares, but in the present generation, it has risen to be a key value driver in pharma. This is facilitated through the use of sensors and digital services, providing tailored care on a monitored basis. Medication has become personalized, targeting the needs of each patient with greater precision than before. Advanced data analytics that mine electronic medical records, including diagnostic results, medication history, and genomic, proteomic, and gene-expression data are helping identify optimal therapies, while predict how individual patients will respond to treatment.

Omnichannel conversations with physicians and patients

Digital-engagement technologies open up a whole new world for marketing, the exchange of information, and recruitment for trials. Pharmaceutical sales reps, medical-science liaisons, and patient-service teams can inform and influence patients, physicians, and caregivers in person or via mobile phones, the Internet, apps, or social media. Virtual care is becoming become increasingly commonplace with specialist virtual-care apps ruling the roost.Consultation through medical portals and social media have become a thing to vouch for as patients to use Skype to call their general practitioners.

Data-driven insight: Advanced analytics to increase pipeline and commercial value

Pharma companies are utilizing a wealth of data, usually locked away in different technical and organizational portals, for the growth of their trajectory. Some are already linking and mining their data sets to improve their pipelines, products, and strategies.Insights are being harnessed through use of AI to cull out valuable data that would help conjoin patient’sdata to give rise to a well rounded perspective. Healthcare devices to monitor personal health and robot-assisted surgeries are direct results of successful AI integration, replacing the need for human reviewing. This in turn, has made operations and diagnosis possible on a much rapider pace, decreasing time taken to recover to a minimum level.

Outcomes-based care is moving to center stage

Playersn have adopted a sharper focus on managing costs while delivering improved patient outcomes, putting an even greater pressure on pharmacy companies to demonstrate the value of their drugs in the real world to retain market access and premium pricing. In this technologically charged atmosphere, digitally enabled "an extent beyond the pill" solutions, which including not just drugs but also sensors to collect and analyze data to monitor a patient's condition, have become the season’s favourite. These solutions are driving the adherence to treatment and outcomes that consumers and governments seek, while maintaining a delicate balance between technology and humanity.

Conclusion:

Although these may be minor changes, but as it takes small ripples to create a storm, these too will usher in a breath of fresh air for everyone to sit up and take notice.

Contact: monalisadas@mediamantra.in