The pharmaceutical industry involves the production of medicines and materials used for medical purposes. This sector includes the manufacturing of pharmaceutical substances, prescription and over-the-counter drugs, as well as chemicals and herbal-based substances used in medical treatments.
The pharmaceutical industry is one of the most high-tech sectors and holds a leading position in global research and development expenditures. Beyond its economic impact, the industry carries significant social importance, playing a crucial role in enhancing the quality of life and increasing life expectancy worldwide.
Key trends:
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Patent expirations for many drugs will negatively impact sales performance for several companies, while simultaneously driving growth in the generics market.
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The rapid expansion of biotechnological drugs is reshaping the market.
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Pharmaceutical companies are focusing on restructuring and optimizing R&D activities to reduce costs and enhance productivity.
New technologies in pharma:
- Digitalization of relationships with contractors.
- Using Business Intelligence (BI) to improve the efficiency of production equipment.
- Leveraging Big Data to identify ineffective drugs and reduce the cost of developing new medicines.
- Automation of drug supply chain management to enhance efficiency and reduce waste.
- Implementation of IT solutions to support omnichannel strategies for drug promotion.
