Pharma needs vs Information Technology Trends

Pharma needs vs Information Technology Trends

The Indian pharmaceuticals market increased at a Compound Annual Growth Rate (CAGR) of 17.46 % in 2015 from US$ 6 billion in 2005 and is expected to expand at a CAGR of 15.92 % to US$ 55 billion by 2020. In terms of world standings, the domestic pharmaceutical industry stands 4th in terms of volume and 13th in value terms. The higher-ranking in value terms could also be musing of the low prices at which medicines are sold in the country. According to the IBEF report, “By 2020, India is likely to be among the top 3 pharmaceutical markets by incremental growth and 6th largest market globally in absolute size”, also highly organized sector, a number of medicine companies promoting their operations in India.

Biopharma companies have built up Good Manufacturing Practices (GMP) compliant facilities for the manufacture of different dosage forms. In addition to having GMP, WHO, several Indian companies have also been obtaining plant approvals from international regulatory agencies like US FDA, UKMHRA, TGA, MCC -SA, ANVISA-Brazil.

Small and medium enterprises (SMEs) account for around 80% of the production in terms of volume and 40% by value. Key pharma companies are located primarily in the western region, followed by the south.

An extremely fragmented industry, where, the Indian pharmaceutical industry is estimated to have over 12,000 production units, around 8-10 thousand units manufacture formulations , while rest of them are involved in bulk drug production. Small and Medium enterprises account for around 80 % of the production in terms of volume and 40% by value.

Drug companies need to maintain with their invariably varying industry dynamics as to last out practicable and competitive. Medicine companies confront the challenges at the same time reducing costs, increasing revenues, bettering operational efficiencies, squinching drug pipelines, patent expiration, bringing new medicines to the market faster, bringing down supply chain costs, aiming brand awareness and patient loyalty, abidance with regulatory requirements.

With these challenges, biopharma companies are duty-bound to take over the most up to date and advanced information technologies and automation levels to stand unique in the competition. The purpose of IT is not bounded only constituting a supportive resource for operational activenesses however to be a high important resource a major facilitator for organizational change, bettered quality and cycle time reduction. Information technologies permit these players to tap into their immense databases and turn in easy to perceive insights to better business performance and preserve regulatory standards. Currently, every pharma and biopharma company realizing the importance of IT and utilizing in one or other way.

If we look at medicine companies using technologies for the various functions like manufacturing process, research and development, supply chain, quality, sales and marketing and HR operations. To whatever the extent Research and development, supply chain and under sales usage of IT facilitation becomes vital as the heavy data produced by these operations.

Research and development: in a competition to produce new medicines, contend with generic medicines and invoke their own generic products has ensued pharma companies increasing their budgets in research and development activities, making it even more crucial for these companies to contour their costs and step up their profit perimeter. In the research and development division, a vast data and documents gets produced with respect to formulation, clinical trials, chemical compounds and so on; Many big pharma players are also linking forces with biotech players by devising research partnerships, letting them to take vantage of the biotech’s research advances and expertness in drug delivery.

Ultimately, the drug segment is more and more outsourcing the production of medicines, because of that releasing bigger allotment of budgets to R&D and marketing, while also eliciting the share to assure the quality of outsourced manufacturing process. As a result of all these dealings or initiatives, these players are now carrying with a very intense data from various sources cast together into one giant consortium- which is getting difficult to manage.

Software tool modifies efficient handling of information and easy retrieval of files. Also helps to generate better models from these many and different set of information on real time basis.

Supply Chain Management:

Utilization of IT is thought necessity for the effective control of supply chain in these days. High stock taking and product devolution costs, high production and logistics prices, predominating regulatory mandates, coactions with channel partners etc are the major challenges for medicine companies. With these challenges, pharma and biopharma companies now looking for IT solutions.

One more area of fear for drug companies relates to counterfeiting. The necessity for pharmaceutical serialization to avoid drug counterfeiting is impelling investment in Track and Trace solutions.

Pharma companies are initiating efforts to directly reach consumers, while still trying to drive increased physician adoption. The proliferation of generic drugs and of information available to consumers through the Internet – as well as the pressure from insurance companies and HMOs to fill prescriptions with generic drugs is making it increasingly important for companies to target their marketing strategies to strengthen consumer loyalty to the brand-names of drugs that previously led the market.

Sales and Marketing:

Drug companies concentrating their feats on sales and marketing operations. In reality, pharma and biopharma companies are now putting good funding marketing and its administration automizations. Furthermore, by integrating IT applications, drug companies are able to better their sales and marketing systems and endure their sales teams to convey and collaborate effectively.

Pharma needs Vs Information Technology Trends:

Nowadays, a number of IT applications are generally utilized by drug companies. Here the popular systems: ERP, SCM, CRM, LIMS, Analytics etc, drug companies going ahead usage of applications that make them unique and ease the regulatory process.

Analytical applications like business intelligence (BI) and Product life-cycle management applications are also gaining importance. Business intelligence interfaces helps the companies to analyze huge data and provides vital insights for business decisions.

A PLM application enables drug players to have united view of their entire product development life-cycle, with the provisions to view and find out every product detail throughout the process; it leaves the capacity to manage and centralize the product information. This support drug companies to deal some of the most important requirements like bringing down overall operation and manufacturing price, expediting the time to market, realizing the quality parameters.

Betterments in instrumentation through miniaturized bio-sensors and the development in smart phones and their applications programmes are ensuing in more and more advanced health measurement devices.

Drug companies can deploy smart instruments to collect real world data which was not available to researchers at the investigation time. Remote monitoring of patients by devices and detectors presents huge opportunity.

This kind of information could be utilized to facilitate Research & Development, study drug efficacy, enhance future product sales, and produce new economic mocks up that blend the provision of medicines and services. Remote monitoring instruments can also impart value by enhancing patients faithfully following to their medical prescriptions.

Technology players and mobile providers are providing services such as data feeds, tracking and analysis to make perfect medical devices. These new models will be able to provide more perverted real time insight.

Pharma and bio-pharma companies require a conjunctive Information technology substructure to deal with the challenges of data produced from various origins. One of the major of challenges in this field is to have data that is coherent, uniform, true and well connected. The ability to deal and incorporate data produced at all stages of the value chain, from research to real time use after the product approval, is a primal requirement to allow pharma players to gain the uttermost benefit from the technology applications.

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