Given the evolving on-ground situation and newer variant-led infections, the pandemic is far from over. In such a scenario, for businesses to stay relevant, we will need to be flexible and more adaptable to the changes that need to be embraced to keep core business growth drivers resilient. In 2022, the pharma industry will continue to reimagine itself while driving growth and boosting value through:

Purposeful collaborations to provide access

The pandemic has been a great example of large-scale collaborations. We have not only seen industries collaborating to provide better access to treatments, but the power of one has been observed across sectors, government, public and private institutions. The industry came together in solidarity to ensure patients had access to essential drugs round-the-clock, and we did so by forging global partnerships, lending innovations and also sharing manufacturing sites and distribution networks. In 2022, a greater force of meaningful and purposeful partnerships can be foreseen where companies will come together to provide access to treatments and technologies.

Accelerated digital transformation to drive value

With the help of digital and its further advancements in pharma and healthcare, the future will continue to be driven by artificial intelligence (AI) and machine learning (ML).

Right from the identification of the disease, personalised forms of treatment, drug discovery and manufacturing to using data effectively for clinical trials and forecasting, AI and ML are going to continue to drive the future of pharma.

Enabling a mindset shift from illness to wellness

During the pandemic situation, health has taken  center stage and the disruption that is continued to be seen is the behavioral shift – how individuals take ownership of their well-being; thus leading to a conscious shift from ‘illness to wellness’ wherein patients are more aware and empowered about their health needs. The opportunity here is for pharma companies to continue to reimagine their roles in the lives of patients and play a larger part going beyond just being a medicine maker.

The pharma industry has been a driving force to ensure the availability of treatments and critical drugs – during Covid-19 and beyond. The swift recalibration amidst challenging times has showcased that the industry has unlimited potential.

Reference:
https://www.fortuneindia.com/enterprise/predictions-2022-the-pandemic-and-beyond-how-the-pharma-industry-is-shaping-up-for-the-future/106491

More News
Continuous manufacturing (CM): A game changer for pharma
News · 01/12/2023

Why will CM be the next generation on quality?

READ MORE
ICCM5 adopts new framework
News · 31/10/2023

The Fifth International Conference on Chemicals Management (ICCM5) concluded on 30 September in Bonn, Germany, by adopting “a comprehensive global framework that sets concrete targets and guidelines for key sectors across the entire lifecycle of chemicals”.

READ MORE
The Global Impact Of China’s Golden Week: Is Your Business Ready?
News · 29/09/2023

In October, the People’s Republic of China celebrates its annual national holiday, known as Golden Week. Similar to Chinese New Year, the entire country is on holiday, resulting in business closures and a potential 14-day halt in production and transportation of manufactured goods.

READ MORE
ECHA Adds Five Hazardous Chemicals To PIC
News · 08/09/2023

The European Chemicals Agency (ECHA) has amended the Prior Informed Consent (PIC) Regulation, EU 64/2012, to add 27 pesticides and eight industrial chemicals into Annex I, bringing the total to 295. As a result, EU exporters are now required to notify their intentions to export them from 1 November onwards.

READ MORE
Global Custom Synthesis & Manufacturing: Escalating Demand for Specialty Chemicals Drives Growth
News · 04/09/2023

The global custom synthesis and manufacturing market was valued at US$271.33 billion in 2022. The market value is expected to reach US$474.94 billion by 2028.

READ MORE
4 key Trends Reshaping Ocean freight Industry in 2023
News · 04/04/2023

The ocean freight industry is undergoing a massive transformation, as the technology and supply chain management tools are being improved by the day, impacting ocean freight rates.

READ MORE
What do China’s data export regulations mean for its trade competitiveness?
News · 13/12/2022

In the second half of 2022, China unveiled the details of its data export regulations, providing further explanations to its existing laws and regulations on data.

READ MORE
Energy Crisis: The EU Chemical Industry Is Reaching Breaking Point
News · 11/11/2022

The current energy crisis has reached an unsustainable level for the European chemical industry. For the first time ever, the EU imports more chemicals than it exports, both in volume and value, resulting in a trade deficit of € 5.6 bn for the first half of 2022.

READ MORE
European Union proposes to add two new hazard classes to EU CLP regulation for endocrine disruptors (EDCs)
News · 17/10/2022

Endocrine Disrupting Chemicals (also referred to as hormone disruptors or EDCs) are synthetic chemicals that are not produced by the human body and that disrupt the normal functioning of humans and animals.

READ MORE