Four investment strategies that will mark the future of the Pharma industry
In recent years, the Pharmaceutical sector has undergone major changes that have modified the classic business models in the industry. Above all, since the appearance of COVID-19 and the pandemic, many pharmaceutical companies and laboratories have begun to implement new technologies and tools seeking to optimize internal processes with the aim of maintaining quality standards and improving the supply chain that satisfies a constantly changing market.
Faced with this new scenario, various opportunities have appeared in the fields of research and innovation. The technology consultancy Strategys highlights the four most profitable investment strategies in these fields and that will mark the future development of the Pharmaceutical industry.
1. Digitization of the supply chain
Today, companies need complete visibility into the processes and tools that allow them to interpret the data collected and make accurate estimates. To achieve this, companies automate and digitize the supply chain with the implementation of specific software that helps collect, analyze and transform data.
Thanks to the integration of this type of software, laboratories manage, on the one hand, to reduce demand thanks to the predictive capacity of the tool and, on the other, to anticipate changes by identifying possible scenarios and implementing preventive actions.
2. Counterfeit reduction
In order to guarantee the veracity of pharmaceutical products and optimize the tracking and tracing of products, companies in the sector use a combination of serialized labels. However, pharmaceutical companies continue to work on how to automate these verification processes with the aim of involving all the participants in the processes.
3. ZERO inventory
Different trends in the consumption of the pharmaceutical market are causing companies to choose to maintain stricter control over inventory and production planning. To achieve this, pharmaceutical companies must know the pace of the market, improving the interpretation of customer data.
4. Customer Centric
Today, major changes are taking place in the way the market meets customer needs. In the case of the pharmaceutical sector, the focus of attention is shifting from traditional customers (hospitals, governments, pharmacies, etc.) to the final customer (patient).
The main reason for this change is due to the growth of online commerce, which has led to the emergence of so-called electronic pharmacies. Assuming the end customer an increasingly important role in this change of direction.
In addition, this change is also reflected in the way in which companies communicate with the end customer directly. Optimizing communication and patient care compared to the traditional model.