What would be the future of Pharma Companies in upcoming time?

What would be the future of Pharma Companies in the upcoming time?

As I come from the field of pharma world. So, there will be always a question in my mind that how much transformation could occur in the pharmaceutical sector. As, you are very familiar with this notion that a new treatment modality to smart devices, cutting-edge analytics, and digital connection, the pharmaceutical sector is seeing a wave of innovations and disruptions. Where it’s visualized in the present time for the betterment of a consumer at their doorstep.
I have observed closely, there is a massive shift in pharmaceutical companies. After covid 19, they are changing their approaches likewise, how to create, produce, and deliver medicines to patients as well as how they work with other players in the field of healthcare ecosystem to transform the way of the traditional method of medicine routes.
Well…

What would be the future of Pharma Companies in the upcoming time?

In this article, I'll discuss some of the most considerable factors that have been sparked by these developments, their effects, and what pharmaceutical businesses can do to get ready to make a much safer environment for the consumption of drugs to us in our daily lives.

First of all, in the very beginning, I went through a few websites which claimed that many operational leaders may need to shift from the prevailing emphasis on continuous improvements that comprised —cost savings, quality assurance, and constant readiness to deliver—to longer-term external challenges.

So, I got to know that these include high inflation and an increase in complexity and risk, as well as the compounding effects these forces have on each other.

1. Have patients on the advisory board of pharmaceutical giants

This is a rough idea of, how the advisory board work

2. Digital health strategy “around the pill”

Oh, it's a new term "around the pill" which is a revolutionary innovation, rather than focusing on traditional drug manufacturing and marketing, pharma companies will put more emphasis on new approaches relying on technology to appeal more to providers and payers. “Around the pill” is more than the production and the sale of drugs: it is about developing a drug and attaching digital health technology to it.

3. Digital pills

Ahh... It pretty much sounds like wired Digital pills, but yes, this is also the biggest innovation in healthcare medications with embedded electronic circuits that can be good solutions for specific patients with specific conditions. These refer to ingestible (means capable of being ingested) medications with embedded electronic circuits rather than smartphone logging apps.
To get more clear, these pills could help with medication support in people taking medicines regularly.

I read one article where the first pill approved by the FDA( the Food and drug administration)  was Ablify Mycite in 2017 (by since-dissolved pharma start-up Proteus). A little bit of bookish knowledge for beginners who are interested in grasping information at health premises, a drug that was aimed at helping psychiatric conditions like bipolar disorder and schizophrenia.

Oh, it’s complicated for a small number of communities, because these heavy terms are coming from medical books combined with some technological words. So, as a patient swallows the pill, the acidic environment in the stomach activates the pill’s sensor, which thereafter begins to send Bluetooth signals to an external patch. It will then address the smartphone app where the pill was taken. Such pills are game-changers or create a different aspect for patients with severe conditions like schizophrenia and severe depression, as for them, missing a medication can have serious.

4. In silico trials

I think it’s also a better hypothesis, In silico experiments are conducted using a computer simulation. Besides, its time and cost-effectiveness, in silico trials completely circumvent animal testing and side effects on human and animal participants.

This has been reported in a recent study, In silico trials can completely replicate human clinical research. Research indicates that these trials are efficient. However, it was not until COVID-19 that these became more widely used. The pandemic broke down the reluctance of medical professionals against such use of technology, as the need for quick and effective trials was imminent at a quick mode because the whole world and we also be part of that pandemic situation and many people had gone or suffered in it,  which has forced them to the professional community for updated or I say changing the perspective for consumption of medication.
 

I am not trying to pressure u all my dear friends, but the above-mentioned image is giving u a clear assumption, about how in silico experiment is carried out at the pharmaceutical level.😊

5. Virtual reality against painkillers

Virtual reality (VR) is becoming a reality in hospitals; I think it required more description, what is VR, is an image produced by a computer that displays surrounding the person looking at them and reflects similarly.

 As a doctor, you could assist in the OR without ever lifting a scalpel. If you are a medical student, you could study the human body more closely and prepare better for real-life surgeries. As a patient with mental health problems, you could fight your possible fear of heights, schizophrenia or paranoia more successfully, there is more data on this topic I had not mentioned because I depth information is only good for medical ones it’s their job not for all. So, I had to skip.  

6. Precision medicine through pharmacogenomics

Against a difficult term,” Pharmacogenomics is defined as the study of variability in drug response due to the genetic code. There are already some, who expressly recommend genetic testing before any prescription of e.g., Warfarin, a type of anti-blood-clotting drug takes place.
One of the popular National Institutes of Health (NIH) formulated it, precision (accurate) medicine is “an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person.

7. 3D printing drugs

It sounds good that 3D printing is also surprising to use in health professionals who need to believe in this. Researchers at the level of worldwide are working on possible solutions: from a group that printed a miniature kidney, through technological solutions like BioAssemblyBot, to entirely new methods that can lead to patient-specific heart tissue printing. The list is long and set in a clinical setting.

8. Medical decision-making with artificial intelligence (AI)

A.I. will soon revolutionise healthcare – through mining medical records, designing treatment plans, speeding up medical imaging, or even drug creation for that matter. Artificial intelligence-based strategies for drug development are on the rise and so is their adoption. A.I. makes finding new drugs cheaper and more effective.

According to estimates, on average it takes about 12 years and $2.9 billion for an experimental drug to advance from concept to market. A.I. can downsize these numbers significantly.

9. Need for new FDA and drug regulations

I believe that there is a consensus in the medical community that regulations concerning drug production, moreover digital health devices or health apps are obsolete. Regulatory agencies are unprepared for the waves of digital innovation.

10. Augmented reality to make drug descriptions more fun

AR has many exciting applications in healthcare: nurses can find veins easier with an AR vein scanner, AccuVein or describe their eye condition better to their doctor through EyeDecide. There are already great signs that AR will enter the field of pharma soon.

It’s time to embrace what is crystal clear. Digital health is changing care, the practice of medicine and how pharma innovations reach patients.