EXPERTISE SECTORPharmaceutical

Pharmaceutical industry is evolving with the current trends

The pharmaceutical industry is in a rapidly evolving market characterized by unpredictable pipelines, digital transformation, and uncertain regulatory changes.

Part of the healthcare sector, the pharmaceutical industry is involved with medication. The pharma industry discovers, develops, and manufactures drugs and medications. Pharmaceutical companies aim to provide drugs that cure or treat diseases, maintain health, and prevent infections. Players in the industry are subject to a variety of laws and regulations that govern the patenting, testing, safety, efficacy, and marketing of drugs.

As a result of the COVID-19 pandemic, increased digitalization and development of vaccines has changed the industry landscape. The implication on the pharmaceutical business has been dramatic in terms of not only drug and vaccine discovery but also in the application of digital technology. In 2021, the worth of the global drug market is expected to reach $1.5 trillion. Some of the biggest players in the pharma industry include Johnson & Johnson, Pfizer, Roche, Bayer, Novartis, Merck & Co., GlaxoSmithKline, and Sanofi.

Prescription Drugs

Prescription drugs are based on chemical composites and are prescribed or administered by medical professionals.

Over-the-counter (OTC) drugs

Over-the-counter drugs are based on chemical composites and are directly sold to the consumer without the need for a prescription from a healthcare professional.

Vaccines

Vaccines are based on bacteria and viruses. They provide immunity or stimulate the body's immune response against infectious diseases by stimulating the production of antibodies.

Key trends in pharamceutcal industry

Digitalization
Telehealth
Artificial Intelligence (AI)
Machine Learning
Cybersecurity
Wolrdwide Healthcare Policies
Loss of Exclusivity

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