{"id":6882,"date":"2020-07-16T23:48:15","date_gmt":"2020-07-17T03:48:15","guid":{"rendered":"http:\/\/www.atyourbusiness.com\/blog\/?p=6882"},"modified":"2020-07-16T23:48:43","modified_gmt":"2020-07-17T03:48:43","slug":"5-trends-impacting-the-pharma-industry","status":"publish","type":"post","link":"https:\/\/www.atyourbusiness.com\/blog\/5-trends-impacting-the-pharma-industry\/","title":{"rendered":"5 Trends Impacting the Pharma Industry"},"content":{"rendered":"\n

Between 2019 and 2024, the pharma industry is expected to grow to $1.18 trillion<\/a>.<\/p>\n\n\n\n

It’s an astounding number that represents $139 spending for every man, woman, and child on our planet in one year. Given that the USA represents at least 39 percent<\/a> of the global pharmaceutical market, that means that every person in the USA spends US$1,390 on medicine!<\/p>\n\n\n\n

Check out these five pharma trends to stay ahead of the pack!<\/p>\n\n\n\n\n\n

1. Patient Engagement in the Pharma Industry<\/h2>\n\n\n\n

Patient feedback or attention in the pharmaceutical industry isn’t know for going very far as an influencer. Drug companies are starting to realize this flaw. Communities fed up with not having a listening ear have come up with their own solutions. One example being an open-source artificial pancreas for Type 1 Diabetes sufferers.<\/p>\n\n\n\n

Drug companies are not known for engaging positively with their consumers. They’re forced into it through many factors. Not the least, the age of wearables, digital health tracking, and the IoT.<\/p>\n\n\n\n

2. A.I.-Aided Drug Design<\/h2>\n\n\n\n

Speaking of digital health trends, A.I. is featuring heavily in the coming years. Drug R&D time is being cut from months or years down to days. While it isn’t across the board for all drug types, algorithms for clinical trials will soon be powerful enough to bypass animal and human testing altogether.<\/p>\n\n\n\n

Right now, this is working hand-in-hand with real testing and trials. Soon, though, drug design will be different, for the better. That doesn’t mean that prices will plummet for drugs.<\/p>\n\n\n\n

Epinephrine Auto-Injectors are in production for $1 but were price-hiked to $600 for the two-pack.<\/p>\n\n\n\n

3. Blockchain Security Features: Counterfeit Drugs<\/h2>\n\n\n\n

A digital revolution of the late 2010s that’s having its potential realized is that of blockchain technology.<\/p>\n\n\n\n

The technology is brilliant for verifying almost anything, including drugs. You might not concern yourself with counterfeit drugs using Canadian options<\/a> to buy medication.<\/p>\n\n\n\n

But the problem of counterfeit drugs<\/a> in Asia, South America, and Africa is horrifying.<\/p>\n\n\n\n

4. 3D Printed Pills<\/h2>\n\n\n\n

In conjunction with A.I. drug designs lowering R&D, 3D pill printing and layering could herald a new era of tailored pills. Imagine going to the pharmacy or ordering your drugs online. Instead of a dozen bottles of different pills, you get one.<\/p>\n\n\n\n

The technology is coming to a pharmacy near you! This technology will help to cut down on counterfeit drugs further. Pharmacies will have blockchain-sourced medicine which they would then print for custom orders.<\/p>\n\n\n\n

5. Wearable Monitoring and Dispensing<\/h2>\n\n\n\n

Wearable tech has been around a while now.<\/p>\n\n\n\n

Diabetes monitors, especially, have been around a while now. The IoT (Internet of Things) is changing everything, as medical diagnostics and big data continue to merge. Coupled with A.I., feedback from your doctor can be in real-time, adjusted for your needs.<\/p>\n\n\n\n

Auto-dispensing medication in a set-it-and-forget-it system isn’t here yet. It’s on the horizon as big data and A.I. continue to penetrate our every day lives.<\/p>\n\n\n\n

Pharma Trends: Now You Know<\/h2>\n\n\n\n

The pharma industry has a lot of room to grow, this we know. These five trends represent a fraction of the interconnectedness of the coming medical industry.<\/p>\n\n\n\n

Now you’re prepared as the industries of digital security, wearable monitoring, fabrication, chemistry, computer science, and medicine merge.<\/p>\n\n\n\n

If you enjoyed this article, make sure to browse our others! From health to technology, we have you covered.<\/p>\n","protected":false},"excerpt":{"rendered":"

Between 2019 and 2024, the pharma industry is expected to grow to $1.18 trillion. It’s an astounding number that represents $139 spending for every man, woman, and child on our planet in one year. Given that the USA represents at least 39 percent of the global pharmaceutical market, that means that every person in the USA […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts\/6882"}],"collection":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/comments?post=6882"}],"version-history":[{"count":1,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts\/6882\/revisions"}],"predecessor-version":[{"id":6884,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts\/6882\/revisions\/6884"}],"wp:attachment":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/media?parent=6882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/categories?post=6882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/tags?post=6882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}