A paradigm technological shift complemented by surging investment is reshaping the pharma industry. Flexible pharma manufacturing, real-world data collection for accurate patient experiences, and secure blockchain transactions are some of the significant breakthroughs.
An essential step in pharma digitalisation is blockchain technology. Blockchain-driven transactions are protecting sensitive, business-critical information and widely tackling counterfeit medicines and substandard drugs from entering the market. New track-and-trace solutions are also being adopted to tackle the counterfeiting of drugs that end up in the public and cause potential risks.
Pharma companies are also looking to optimise manufacturing processes using the Internet of Things (IoT). It can offer much-needed connectivity, reliability, and visibility in the process. Software as a Service (SaaS)-based technology companies, wherein data is centrally managed, can also help pharma companies achieve operational excellence by reducing the time delays in the product lifecycle, increasing the speed at which the product can reach the market.
These shifts are expected to take the global pharma market to $1.5 trillion by 2023, growing at a CAGR of five percent.
To put the spotlight on other key developments, Pharma Tech Outlook Europe illustrates how the pharma sector is leveraging digital solutions to improve drug outcomes. This edition features thought leadership articles from Philippe Caby, CIO, Centrient Pharmaceuticals; Carlos Pedraza, PhD., Director of CNS Biology at Alkermes; and Dr. Ammar Raza, Regional Medical Director, Middle East and Africa, Allergan Aesthetics—an AbbVie company in Dubai. They shed light on digital transformations catalysing the drug discovery, development, and patient experience.
In this edition of Pharma Tech Outlook Europe, we also bring to you the story of some of the top pharma tech solution providers in Europe. In the list, REA Elektronik particularly stands out for its single source solution that can be used to carry out coding, marking, labelling, and code verification of products holistically.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the pharma tech space. We would like to know your thoughts.
