Hello readers, Let me ask you a question first before we enter the article. What we can expect to see from our pharmaceutical industry in the coming 20 years? Did you ever imagined what can it adapt or inculcate in the future. Do you ever realize the earning capacity of the pharmaceutical market of the globe is 1.2 trillion dollars? At this high profitable and capital stock the Pharmaceutical industry will definitely undergo a huge technological changes in the coming years. Few expect Artificial Intelligence A.I patient empowerment and 3D printed drugs etc to be trending the future.
Every industry paves an adaptation to the changing times with technological advancement and so our Pharmaceutical industry surely embrace new technologies, therapies and innovations.
Artificial Intelligence for Drug Research & Development
Artificial Intelligence for Drug Research & Development will surely bring up a greater focus on ailments, prevention and digital health through speed and savings.
The market of artificial intelligence in global healthcare will reach 31 billion dollars by the end of 2025 as per few studies.
A.I-aided drug design will be a potential too for the new drug discoveries in the very near future. It is really easy to identify the most suitable drugs for diseases through AI as it creates a remarkable perks on the efficiency time and cost.
Patient design
Patient Design includes patients’ input and involvement in drug designs, trials and even decision-making. It is interesting that the FDA created its own patient engagement advisory board to make sure the patients demands heard..
All the Pharmaceutical companies need to follow the FDA in this regard and recently the FDA approved the first artificial pancreas two years after the DIY artificial pancreas was made publicly available.
Robotic integration
The greater technological advancement raises the integration of robots in the drug manufacturing processes where they can automate tasks in different tasks.
Robotics, in the form of exoskeletons can take up heavy loads and long hours assisting the manual labors.
Blockchain Technology
Blockchain could bring a radical security measure to the drug distribution chain via a barcode record system that can be tracked from the manufacturer to the end user. This way, medicines
can be tracked in real-time by authorized parties and patients, making it much more difficult for criminal networks to thrive. By being a simple yet secure measure, we will see pharma companies investing more and more into blockchain.
New drug strategies
Pharma companies will focus on newer approaches in drug manufacturing relying on technology to appeal more to providers and payers.
Example:
The “around the pill” strategy is one such New drug strategies.It’s about developing a drug and attaching a digital health technology to it instead
Roche created mySugr app diabetes management app and paired it with Roche’s Accu-Chek Guide glucose meter.
This helps patients to manage their condition by just logging in their blood glucose levels, completing tasks and challenges, users can “tame their diabetes monster”.