Pharma Digitalization: Enhancing Processes by Using Modern Technologies. All content is available on the global site. Another problem that pharma companies are facing now is great losses due to the coronavirus vaccine R&D. Besides, experts emphasize the speed of population aging as compared to the past. Per-member-per-month (PMPM) spend on provider-administered drugs increased by 18% for commercial members in one year, reaching nearly $30 PMPM. These crisis issues are expected to bring a great increase in prices for drugs and medical devices in the nearest future. London, England, United Kingdom About Podcast Pharm Exec podcast goes beyond the pages of Pharmaceutical Executive print magazine and PharmExec.com to bring the latest commercial insights to the C-suite through in-depth interviews. Helping the helpers and inspiring resiliency. The increases have been particularly driven by growth in the use of specialty drugs, which are expected to account for about 40% of total drug spend by 2020 (compared with about 27% currently). Dec 22, 2020 (The Expresswire) -- Global 'compounding pharmacy market growth' 2020 … Patient Engagement: Reaching Closer Connections. Clinicians choose Lexicomp® for evidence-based drug information to support smart, safe medication decisions. © 2020 Wolters Kluwer N.V. and/or its subsidiaries. Investment in personalized medicine has doubled in the last five years, and recent market research predictsthe production of precision therapies to increase by 33% by 2025. It doesn’t pay to dig in your heels, put your head down and continue to do what you’ve always done. Should you go full virtual, hybrid, or attempt an in-person meeting? As we look back at 2019, we can see the growth of innovative technology being utilized in progressive pharmacy businesses. . Digitalization has been embracing almost all spheres of modern life, especially manufacturing fields. Real world evidence, patient centricity and new digital experiences are among the top 15 trends set to change clinical research and treatment commercialisation in 2020, according to … Healthcare Trends, Predictions and Challenges for 2020. Experts believe that the pandemic is going to test its economic model because the results of drug development and trials will have an impact on pricing. Long is a frequent presenter at major industry meetings throughout the year, and his latest presentation via webinar was in place of a live meeting cancellation where he was slated to speak. Total prescriptions then increased again the first two weeks of May, reaching weekly averages of approximately 69 million. Moreover, it also refers to the production of medical equipment in China. According to. PM News But what are they and how is the industry addressing them? By using it, they can control the way people’s organisms react to their drugs, and therefore, improve production. When he joined Operation Warp Speed (OWS) as a medical planner, that know-how was a tremendous asset. According to. There also has been a slight increase in the number of written prescriptions (vs. e-prescribed or telephone orders) signaling that some patients are returning to office visits. Trusted clinical technology and evidence-based solutions that drive effective decision-making and outcomes across healthcare. According to Deloitte report, Chinese companies are going to mitigate the negative impact of COVID-19 by applying the following measures: Experts predict that the coronavirus pandemic will bring some new trends to the world in general, and in the pharmaceutical industry in particular: Apart from addressing the above mentioned and other challenges and reaching all planned goals, the pharmaceutical industry is burdened with the pandemic crisis, which will continue dictating its rules for the industry for at least the nearest future. The need for transparency has grown because of these factors. 6 Rising consumerism and growing out-of-pocket (OOP) payments. Anna Balyuk Easily accessible training on best practices bolsters patient safety and industry reputation. , Donald Trump even referred to manufacturers with an order to produce more stuff that would be handy in the period of the pandemic: masks, respirators, and drugs. 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