Top 5 Pharmaceutical Trends in 2020

Top 5 Pharmaceutical Trends in 2020

The pharma industry is seeing dramatic changes driven by new innovations and trends. This trend brief from MasterControl discusses how to adapt and remain competitive in the market.

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Why Is Pharma Trending Toward Digitization?

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Remain Competitive and Profitable

Digital technology removes silos and provides seamless visibility throughout the supply chain, making it easier to meet critical production timelines.

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More Time for Innovation

"Researchers and engineers need to focus on improving the product — not spending their time tracking data and working on documentation." - Sarindr Ik Bhumiratana, Chief Scientific Officer, EpiBone

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Improve Performance, Efficiency and Accuracy

"Things don't need to be going wrong to be improved. Digitization lets you focus on ideas and outcomes, not reports and processes." - Joy Langley, Director of Operation, Exemplar Compliance, LLC

How to Excel in a Complex Industry

01

Stay Current, Agile and Sustainable

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Today's regulatory environment is experiencing significant and unpredictable changes. Companies should strive to be predictive and adaptable. Technology plays an important role in this pursuit. - Deloitte report, "Leading in Times of Change"

02

Digitization: A Competitive Differentiator

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Gartner predicts supply chain management (SCM) market to reach $19 billion by 2021. “Digitization is increasing demand for agility and forcing new business models.” Chad Exchinger, Managing Vice President, Gartner

03

Compile Meaningful Data Faster

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Survey data from Zenith Technologies cites that data scientists spend around 60-80% of their time scanning and preparing data before they can gain any insight. Digitized data gathering and analysis produces more and higher quality data in less time.

04

Architect for Innovation

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More pharma companies are revising their business models to include precision and personalized therapies. Pharma product innovators enable the industry to target difficult or untreatable diseases and present more options for individuals who don’t always respond to traditional treatments.

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