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Current trends in pharmaceutical industry: Post -CoVid-19 pandemic effects
Monisha Mohan1, Kalaiselvi Rajendiran2, Yuvhraj Rajaram3
1Department of Biochemistry, Trichy SRM Medical College Hospital and research centre, Irungalur, Trichy, India.
The pharmaceutical industry is transforming due to technology and market shifts post-COVID-19. Key trends include digitalization, blockchain, and decentralized trials to address new challenges.
Area of Science:
- Pharmaceutical industry dynamics
- Biotechnology and Health Sciences
Background:
- The pharmaceutical sector faces significant transformation driven by technological advancements, regulatory pressures, and changing market needs.
- The COVID-19 pandemic has accelerated the need for the industry to adapt and meet evolving requirements.
Purpose of the Study:
- To review current trends and evolving challenges in the pharmaceutical industry.
- To analyze the impact of the post-COVID-19 era on pharmaceutical operations.
Main Methods:
- Literature review of emerging trends in the pharmaceutical sector.
- Analysis of digitalization, blockchain technology, and decentralized clinical trials.
Main Results:
- Digitalization is a key trend, enhancing efficiency and data management.
- Blockchain technology offers potential for supply chain security and data integrity.
- Decentralized clinical trials are emerging as a flexible and patient-centric approach.
Conclusions:
- The pharmaceutical industry must embrace emerging technologies like digitalization and blockchain.
- Adapting to decentralized clinical trials is crucial for future success.
- Addressing post-pandemic challenges requires strategic adoption of innovative trends.
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