There is a growing importance of emerging markets regarding where the pharmaceutical industry is turning for additional market growth and profitability. The increased spending power of these so-called pharmerging markets has meant that new pharma products need to be launched on a more global scale than ever before.
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Pharmaceutical companies can play a central role in the digital revolution of healthcare.
Process efficiency and agility is improving dramatically. Advanced analytics, sensors, and the automation of complex decisions are capable of delivering a step change in the efficiency, speed, quality, and responsiveness of business processes in all industries. The pharmaceutical industry is no exception.
In a digital age, patients are much less dependent on their doctors for advice, increasingly able and willing to take greater control of their own health
There are four main areas where digital developments will drive value for pharma companies, building on what we see as the key components of digital success.
An ability to deliver more personalized patient care, engage more fully with physicians and patients, use data to drive superior insight and decision making, and transform business processes to provide real-time responsiveness. Digital-engagement technologies open up a whole new world for marketing, the exchange of information, and recruitment for trials. Anytime-anywhere virtual care will become increasingly commonplace.
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