Over the past few years, the pharmaceutical industry has witnessed rapid growth in the United States. Various medical advancements have taken place in the country and along with these advancements; medical care in the country is expensive too. Medical facilities are becoming digital and artificial intelligence is also automating medical processes. Let’s take a look at the trends that are expected to change the future of pharmaceutical companies in the coming years:
- More than just pills: Pharmaceutical companies are working towards offering a complete package around a pill that will include not only prescription of the medicine but, also digital health around the pill. Such offerings are already called as “around the pill” offerings which include digital health apps, services or devices prescribed by a doctor. Such offerings will monitor the whole process of taking the medication and enabling the doctor and patient exchange feedback.
One such example of this is the collaboration of Partners Healthcare Center with a Japanese drugmaker, Daichii- Sankyo to develop a “mobile wrap-around” for a Daichii Sankyo anti-coagulate drug prescribed for atrial fibrillation that will also work with other afib drugs. There is a wearable device that monitors and an app. This allows the patients to receive positive feedback from the doctors. More companies are expected to adopt this trend.
- Digestible Sensors: Thanks to nanotechnology, it has become easy for pharmaceutical companies to make digestible pills. Digestibles are tiny pills or gadgets which are combined with sensors. The sensor will track down the digestion and absorption of the pill by the body. The Japanese pharmaceutical industry has already tested the digestible sensor pill for the treatment of mental illness. This pill can only be prescribed upon the patient’s approval. These pills are soon expected to be adopted by the pharma industry in the U.S. and will revolutionize the healthcare industry.
- Precision medicine through Pharmacogenomics: The pharmaceutical industry tests all medicines before making them available for the patients. Precision medicine is “an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person.” For getting better results, medical experts are using Pharmacogenomics to incorporate genetics into the process of creating targeted therapies and personalized treatments. It has been found that the effect of medication on people varies. The effect changes due to many parameters. And, therefore it is expected that more pharmaceutical companies will be focusing on personalizing the treatment based on genetic tests.
- Artificial intelligence: When medical decisions will be taken by utilizing supercomputers, ordinary medicines will change into advanced ones. The pharma industry can utilize artificial intelligence tools to enhance the production of drugs and test the produced drugs with the help of supercomputers. A large number of medicines can be tested at the same time with the help of these supercomputers, thanks to artificial intelligence. This will also help pharma companies save time and energy. AI carries the power to speed up the process of drug creation and other medical processes and is expected to become a crucial part of the pharma industry very soon.
Pharma industry is rapidly changing due to technological advancements in the field. It will be interesting to watch how these trends will influence and affect the future of the pharmaceutical industry.