In the last decade, the pharmaceutical industry has dealt with technological changes that require new techniques to guarantee the continuity of product supply as well as the respective research and development.
In the same vein, efforts have been made to invest in new ways of treating. The way therapies are viewed as contributing to the change in the process of disease management, making the area of medicine more participative, preventive, and personalized.
An area in constant change
Biopharma’s main objective is to be as far ahead as possible in the development of advanced therapies and methods to facilitate patients and their daily lives. However, the fact that the expense of maintaining the system is high is a key issue that is the subject of debate among investors, patients, and other professionals in the area.
The inherent cost of some chronic disease treatments is still a barrier for many. This is where technology comes in, to reduce the financial impact by making it more accessible.
However, it is an unstable area that sometimes encounters some obstacles, considering some limitations in the access to markets and respective values and the different needs that arise.
What kind of technology is used?
This industry has tended to include artificial intelligence, blockchain, and Industry 4.0 technologies. In this sense, there is more and more investment leading to the emergence of startups whose technology is the priority.
Given these objectives, there has been international interest in collaborating between organizations to generate a good environment that encourages change and respective improvement in this area.
The result is disruptive items and stimulating interaction and relationships with customers.
The path is simple: towards innovation!
To ensure its sustainability and to meet the needs of society, productivity must be a priority as well as the interest in research and its development, reversing the declines and slow growth.
On the other hand, we are witnessing a reduction in the cost of investment in medicines as they are integrated.
In other words, they are organized by various units with distinct competencies and technologies through labyrinthine interfaces to carry out the tasks inherent to the development of new medicines.
Advantages of technological evolution in health?
As longevity and comfort are the priority of this biopharma industry, we are situated in a technological, information, and knowledge panorama that speeds up this achievement to monitor diseases in a much more personalized manner.
This process aims to reduce unwanted effects to read the patient’s response to treatment.
The system has several flaws in a more practical aspect regarding the use of medication, visits to the doctor, and respective hospital network management. Seeking to ally therapy to a digital intermediary, there is a possibility to invest the money spent on health in a more effective way contributing to health and happiness in the process.
What are the ambitions in the pharmaceutical industry?
The way procedures are applied in the pharmaceutical industry reveals some inefficiency and points to some structural problems, with little medical follow-up between consultations.
The goal would be to use digital to help this process, improving the diagnosis process and implying fewer costs. It is a priority that the patient is the focus of concerns by understanding his needs.
In this sense, there is an ambition to make this environment like a start-up starting from the assumption that the necessary competencies are far from employees with scientific training trying to attract people open to this digital innovation.
Therefore, there are 3 pillars:
- KPIs as a guideline – understanding how many patients have adopted certain treatments by investing in information about the disease to involve them in the treatment associating them with greater decision-making power;
- Follow trends and exploit them – knowing what artificial intelligence can provide, bearing in mind that doctors often have limited diagnostic capacity;
- Assign more accurate diagnoses using electronic devices – it is possible using photography to create a library of images to speed up information about the diseases as well as the consequent diagnosis.
This adaptation provides more information to the patient and may reformulate the way the different health care systems work, demanding new business models.
Where do Europeans stand?
The interest and participation of Europeans in science and technology have increased in recent years and the attitude has been positive. There is a concern for fairness and involvement of citizens and all stakeholders in research and innovation. Trust and cooperation are appreciated and there is an interest to work together with the government. Young people can play a particularly important role in life sciences to create a future that meets needs.
What are the main trends in this industry?
- Investing in Artificial Intelligence
- Explore Big Data and Analytics
- Precision Medicine
- Digital Therapeutics
- Extended Reality
- Curative Therapies
- Additive Manufacturing
- Betting on Flexible Manufacturing
- Real-World Data
Some biotechnology organizations use biosensors and software that produce and collect data that is articulated with artificial intelligence facilitating mediation assisting in the prevention of the most severe pathologies.
Innovation in the medical field
Various areas have merited special attention and innovation, of which we can highlight the following:
- Autoimmune diseases;
- Antibacterial research;
- Microbiome and its role in human health;
- Gastrointestinal diseases.
There is interest from financiers and mediators who speed up the process of payment for the patient in the pharmaceutical industry. It is estimated that in the future the life sciences will assume new contours due to the technological evolution towards well-being and the personalization of the service, generating consequently new jobs. Talk to us!