Our Thinking
'Our Thinking' is a blog where we discuss how digitalization can help pharma companies meet some of the challenges and opportunities that the development in the global pharmaceutical industry entails.
'Our Thinking' is a blog where we discuss how digitalization can help pharma companies meet some of the challenges and opportunities that the development in the global pharmaceutical industry entails.
The mission of the pharmaceutical company of the near future is clear: to become the major personalized medicine provider to individual groups of patients by providing a value-based approach to the market alongside the traditional volume-based proposition. The key to success is smart manufacturing, which retunes the process and right-sizes it for smaller production runs, while collecting and analyzing data for constant improvement in the patient/drug relationship.
The global pharmaceutical industry today is worth $1.2 trillion, projected to rise by 40 percent in just three years' time. To realize this potential, greater agility is required. Organizations are now investing in collaboration technologies to help breaking out of silos and borders and share data throughout the entire pharma value chain to exploit new opportunities.
Clinical trials are capital-intensive and complex with no guarantee of success. However, they're also of enormous value as continuous indicators of initial clinical validation. After that, there's continual testing of efficacy and tracking of progress with very experimental new drugs and treatment regimens which have reached an advanced stage of approval.