Challenges
Though the Covid disruption has handicapped the global market extensively resulting to various challenges in supply chain of lot of essentials, but there’s been an upsurge in the healthcare sector and significantly to the Pharma Industry.
We also now have an educated population of patients become health conscious because of the pandemic and this has evolved immensely in this crisis period.
Challenges always give rise to opportunities and it is rightly applied to the Pharma industry which is now living through the impact of the COVID-19 pandemic and evolving immensely under changing circumstances. Tech implementations & huge investments in research & development in many companies have started to positively impact their team’s efficiency. Life science companies worldwide are now focussing to refine the production cycle with Artificial intelligence, Machine Learning, cloud technology, and various other digital investments. Resulting to benefits like running budget-friendly trials for drug design, identify improvements in medical treatments, help identify right drugs for specific conditions, gather health data more effectively and many more advantages.
The pandemic has brought about a revolutionary experience to the healthcare industry, the entire world is freaking on health & wellness related understandings, Life science organizations are now involving end-consumers in trials & drug designs, companies are relying on the latest innovations in pharmaceuticals to create a new digitally-driven world . The new developments are embracing personalized focus in healthcare while reforming and reshaping the industry to an entirely new beginning altogether.
The crisis hit everyone equally but not all could sustain the effect in the same manner. The Pharma Industry also although wounded, managed the crisis astoundingly well with great crisis response mechanisms. Digital Marketing was always a weak spot for the Pharma fraternity, but during these times their robust online presence and partnering with the right providers helped the crisis management processes run smoother . Companies around the world are suffering from event cancellations preventing pharma companies to launch and introduce new products and services. The new digitalization in the Pharma world incorporated learning into future crisis plans and processes.
Editor- Dr. Monica Bhatia
An International business leader with over 20 plus years of experience of leading businesses in India, UAE, Africa & other emerging markets.
www.isolasta.com
