Pharmaceutical companies are experiencing their notorious year due to the coronavirus pandemic. The year 2021 have made the world curious about the pharma industry - its impact and its latest trends. Let us explore the top 5 pharma trends in pharmacy 2021.
Generic Pharmaceutical Margin - Being one of the most chaotic years of the industry, the biggest hurdle is to watch out for the industries to upcoming patent cliffs that might look bad for the company owners. However, it is good news for patients since the growing competition reduces the market price of generic medicine.
Artificial Intelligence - Drug history has always been innovative and accelerated well with time with the help of technology. Presently there are multiple start-ups that are exploring AI to curb many challenges in the industry firstly beginnings with patients’ identification for conducting the clinical trial.
Cyber Security Threats - The number of cyber-attacks has increased as consumer data has become more valuable. Cybersecurity threats are especially prevalent among pharmaceutical companies. Manufacturing facilities may be more susceptible to cyber-attacks because of the increased use of internet-connected manufacturing technology.
Patient-Centric Healthcare - Pharmaceutical companies have seen a major change since the pandemic, which was the need for patient-centric healthcare. As a result, medical professionals are now familiar with the fact that the same disease cannot be treated with the same treatment. A patient who has mild symptoms of Covid-19 may be treated very differently from an individual who has severe symptoms.
Cell and Gene Therapies - There is a colossal change in the sector of bringing cure from managing illness and its treatment. Cell therapies along with gene therapies are called Curative therapies and these are changing the way the world deals with chronic illness/diseases by reducing the need for any sort of long-term treatments. There is a lot of science that involves curative therapies. Genetically modified or engineered viruses are introduced as vectors into the human body to gene therapy to make beneficial proteins.
