What are the Trends in the Pharmaceutical Supply Chain to Look Out...

Pharma Tech Outlook: Pharma Tech Magazine

What are the Trends in the Pharmaceutical Supply Chain to Look Out for?

By Pharma Tech Outlook | Tuesday, September 15, 2020

An innovative approach to pharmaceutical supply chain management can help pharma companies to capitalize on new opportunities and get ready for the future while providing better results in the current scenario.

FREMONT, CA: In this new digital economy, the pharma supply chain is facing several stress factors that are, in most cases, intensifying with the continuously evolving regulatory needs and customer expectations. In order to surpass these supply chain roadblocks, it is important to analyze the pharmaceutical supply chain trends molding this sector's future and consider their cumulative impact on numerous supply chain processes. With high demand from the developing regions and BRIC (Brazil, Russia, India, and China) economies, pharma has become a global market fraught with the challenges. Owing to the fast rise in incomes and lifestyle disorders, the governments within these regions are now looking at enhancing healthcare access and outcomes. But to ultimately unlock the potential in these developing economies, pharma manufacturers should invest in the right tools and solutions in order to develop and implement the global supply chain networks.

Here are a few pharmaceutical supply chain trends that is impacting the recovery.

Product portfolio expansion

Top 10 Analytics Solution Companies - 2020With the introduction of new therapies and drugs, the pharma product portfolio is all set to witness a vast expansion over the coming few months. But, it is critical to note that most of these new therapies and the devices that are used to deliver the drugs involve complex manufacturing and distribution processes that indicate a complete revamping of the pharmaceutical supply chain.

Patient-centric supply chains

Witnessing a rise in the popularity of telehealth, telemedicine, and home-based healthcare services, the pharmaceutical supply chain is thought to become more patient-centric with various endpoints of delivery and information sharing. Moreover, since the rising adoption of digital tools makes patient data easily accessible, patient-centric supply chains of the future should be designed to focus on addressing the dynamic demand.

The emergence of precision medicine

A promising perspective on drug manufacturing based on genomic data is paving its way in the pharma market to deliver personalized care based on individuals' genes, environment, and lifestyle.

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