digitalization pharma industry trends

[Blog] Pharma Digitalization – Trends #2022

As the end of the year is coming, it is time to look at the trends in pharma manufacturing for 2022.

 

The expected volume that the Pharma industry will reach next year is $1.5 trillion. Despite the COVID-19, this industry is constantly investing in digitalization, developing the business environment and optimizing the costs. What does 2022 is carrying for pharma manufacturing?

 

 

#1 AI

 

Artificial intelligence is making its way intently in healthcare. The AI market is overgrowing – 62% of healthcare organizations plan to invest in artificial intelligence soon. According to research, “Nearly 50% of global healthcare companies will implement artificial intelligence strategies and by 2025, and some experts believe it is crucial for how businesses operate down the line.”

The use of AI could impact drug discovery, manufacturing, diagnostic assistance while optimizing the processes and reducing human errors, research time and development costs. Artificial intelligence and machine learning could play a vital role in quality control, waste management, production reuse, predictive maintenance, forecasting and prevention in the production line. With the increasing accessibility of AI, it will become a natural part of pharma manufacturing in the future.

 

 

#2 Cloud technology

 

As we like to say, “cloud technology is not a tabu for the pharma industry yet”. The market size value of 2020 was $14,123.3 million, and the revenue forecast in 2026 is $27,856.1 million. Cloud computing brings a wide range of benefits and opens many opportunities for Pharmaceuticals. On the one hand, cloud software provides a cost-effective, crucial solution during these times of pandemics. Conversely, cloud services enable pharmaceutical companies with multiple stakeholders on a greater level, improving the integrity and quality of data. Based on this, it could be said that the cloud and pharma industry grow together by the mutually beneficial process – pharma invests in cloud solutions. At the same time, they improve and support Pharmaceuticals in different ways.

 

 

#3 Digital processes

 

This is an already existing trend that will continue in 2022. Processes` digitalization enhances operational efficiency and significantly facilitates operating procedures. For example, related to regulatory compliance, the implementation of digital strategies drives the compliance allowing accurate data tracking. Furthermore, digitalization impacts the transparency across the supply chain and enables the mitigation of data losses.

 

 

#4 Big Data

 

To accomplish complete visibility, the supply chain participants have to exchange a high volume of data that includes all product and regulatory information. According to the experts, big data will have the most significant impact on Pharmaceuticals and thus will continue to be a hot topic because it helps in the prediction of the variety of issues thanks to the real-time monitoring, as well as impact the process development allowing the opportunity for optimization and diagnostic analytics.

 

 

#5 Digital Training

 

The implementation of such technologies requires specific skills. Pieces of training and practice will reduce the risks of errors, educating the employees and helping them to meet the regulatory standards for how the information can be used. Besides all, digital training is cost-efficient because it does not require training facilities and can be done whenever the person needs it.

 

 

#6 R&D

 

As one of the industries with the most focus on innovation, it is evident that in 2022 the pharma industry will endeavour to ensure research and development fields. The expected results will be greater effectiveness and better production efficiency.

 

 

 

Sources:

https://pharmanewsintel.com/news/ai-in-the-pharma-industry-current-uses-best-cases-digital-future

https://verdict-ai.nridigital.com/issue-one/state-of-ai-artificial-intelligence-business-data

https://www.grandviewresearch.com/industry-analysis/healthcare-cloud-computing-market

https://www.marketwatch.com/press-release/cloud-computing-in-pharmaceutical-market-report—global-size-and-growth-2022-trending-opportunities-regional-overview-latest-developments-and-business-demand-scenario-till-2026-2021-11-24

 

 

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