The pharmaceutical industry is a massive industry with billions of dollars in revenue. However, the money doesn’t come from selling drugs, of course! It comes from giving patients the best solutions to their health problems, and this means new technologies are constantly being implemented to improve patient outcomes.
This article will discuss the rising technologies within the pharmaceutical industry and how they have changed over time. We’ll also examine future trends that can be expected as more technologies get integrated into drug development and delivery methods. Finally, we’ll finish by covering how technology has been an integral part of improving healthcare for millions of people worldwide.
There have been some incredible breakthroughs just within the past decade alone. Here are seven of the most important ones.
1. Predictive analytics
This is the act of using big data to predict future drug development outcomes. This can be used by drug companies, researchers, physicians, and patients to help manage the costs associated with developing new drugs and improving patient outcomes.
Predictive analytics allows for better decision-making within pharmaceutical companies. It also helps make clinical trials more efficient overall. This means more successful medications will be approved for widespread use.
2. Virtual Reality Modeling (VR)
Using VR modeling allows scientists to create virtual representations of cancer cells to test how certain cancer drugs will affect those cells.
With this technology, oncologists can save time on research and development because they can run tests before actually creating a drug or treatment plan for patients, thus eliminating the need for human testing during preclinical trials.
3. Robotic Assistance
As the name suggests, robotic assistance is any kind of technology that helps reduce physical labor and improve working conditions for employees while improving work environments for patients through higher quality care.
Robotics used by pharmaceutical plants reduces physical labor, which in turn can reduce industrial hazards and occupational accidents.
4. Third-Party Manufacturing
A company other than the drug’s manufacturer makes a part or component needed to create a drug product. For instance, if there were no third-party manufacturing companies to produce high-quality industrial air compressors for packing, cleaning, and product contamination, then could end up being a significant bottleneck in the development of drug products.
The pharmaceutical companies would need to create their own machine shop to produce these components themselves. This is very costly and time-consuming.
5. Computer-Aided Drug Development (CA DD)
CA DD uses computer software to improve drug discovery and development. The models simulate a patient’s physiology to be used in clinical trials before human testing begins, allowing for more accurate results from early-stage tests. In terms of clinical research, CA DD is being used to design clinical studies which are more efficient and effective for all involved parties.
6. 3-D Printing
3-D printing is a manufacturing technique that builds up an object by laying down multiple layers of material, one on top of the other. It is being applied to pharmaceuticals by creating molds for drug production and has been proven effective in making personalized implants for patients with titanium or plastic materials. It also creates drug objects for testing.
This has yielded faster time to market for drug products, and it helps improve precision in the production of drugs.
7. Telemedicine
This is when health care providers use technology to communicate with patients over long distances. For example, they can diagnose or treat a patient without physically being present in that location. Telemedicine can be done via live video conferencing software or through secure online portals. This helps reduce costs related to medical expenses and disease management.
Telemedicine also provides more convenience for patients in remote areas who cannot easily reach clinics, hospitals, or other medical facilities.
In addition to these seven technologies, there have been numerous other technological advances that can be expected to shape the pharmaceutical industry in the future: changing ownership and control structures with big data; new information management systems and techniques; digital manufacturing; industrialization of biotechnology; personalized medicine; biology as an industrial strategy; nanotechnology; industrial technologies applied to drug manufacturing; alternative clinical trial models; the industrialization of health care.
These are just some examples of how technology has quickly transformed the pharmaceutical industry in recent years. With advancements in technology becoming more commonplace, there is no doubt that this will continue well into the future.
It’s almost impossible to predict exactly what new innovations will arise over time, but one thing is for sure: technological advances have led to better patient outcomes and increased overall quality of life across the globe — all thanks to these incredible breakthroughs.
