Pharmaceutical drug market players focus on digital

LONDON, Aug. 18, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s pharmaceutical market analysis report, with the aim of increasing operational efficiency and adapting to changing industry dynamics , pharmaceutical companies are turning to digital and analytics partner-led solutions to mitigate long-term risk. For example, companies are using digital platforms to maintain stock of their essential medicines and other medical supplies.

Automation of manufacturing and warehouse processes plays an important role as the need for increased data availability grows. Automation will also be helpful in coping with a reduced workforce due to government shutdowns and social distancing measures. Fully automated facilities will also reduce the risk of future disruptions from infectious diseases. Digital tools will also allow certain key business processes, such as auditing or product release, to be performed remotely, potentially reducing the risk of disruption while improving efficiency.

Pharmaceutical companies must be very reactive during a health pandemic. Many industry operations managers are struggling to enable a steady flow of supply of key drugs across borders, manage workforce security and manage evolving government restrictions. Simultaneously, these companies are developing effective vaccines and treatments to fight COVID-19. Most pharmaceutical companies are actively involved in responding to the crisis and stabilizing the situation.

In April 2020, Sermo conducted a COVID-19 HCP survey of 110 Japanese physicians’ expectations regarding the use of digital remote work tools after the crisis, compared to before the crisis. According to survey respondents, the following technologies have been used more since COVID-19: telemedicine for physical health consultation (53%), videoconferencing (Skype or Zoom) for professional use (59%), distance learning (online education/apps) for nurses and practice staff (33%), and remote work tools (e.g., wearables, sensors, devices) to measure patients’ vital signs ( 70%). 100% of respondents said that clinical decision support tools such as those driven by artificial intelligence (AI) were used in about the same way since COVID-19.

The commercial research company’s report titled Pharmaceutical Drugs Market – By Segments (Musculoskeletal Drugs, Cardiovascular Drugs, Oncology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Central Nervous System Drugs, Genital Drugs -urinary, respiratory drugs, gastrointestinal drugs, hematology drugs, dermatological drugs, ophthalmic drugs), and by region, opportunities and strategies – Global forecast to 2030 covers major pharmaceutical companies, market share of Pharmaceutical Drugs by Company, Pharmaceutical Drugs Manufacturers, Pharmaceutical Drugs Market Size and Pharmaceutical Drugs Market Forecast. The report also covers the global pharmaceutical drug market and its segments.

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The global pharmaceutical drug market is highly fragmented, with a large number of small players. the top ten competitors in the market consisting of 34.25% of the total market in 2020. Major Market Players Johnson & Johnson, Novartis AG, F. Hoffmann-La Roche AG, Merck & Co., Inc., Pfizer Inc., Sanofi SA, Gilead Sciences, Inc., AbbVie Inc. . , GlaxoSmithKline Plc. and AstraZeneca Plc.

The size of the pharmaceutical market 2020 was $975.04 billion and this Global Pharmaceutical Market 2020 is expected to grow to reach $981.73 billion in 2021 at a compound annual growth rate (CAGR) of 0.7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market should reach 1280.42 billion dollars in 2025 at 7% CAGR.

North America to the the biggest pharmaceutical market share, representing 44.2% of the total in 2020. It was followed by Asia-Pacific, Western Europe and then the other regions. In the future, the fastest growing regions in the pharmaceutical drug market will be the South America and Africa where growth will be at CAGRs of 9.1% and 8.2% respectively during the period 2020-2025. This is followed by the Middle East and Asia-Pacific, where the markets are expected to grow at CAGRs of 8.1% and 6.8% respectively.

Pharmaceutical Drugs Market – Opportunities and Strategies – Global Forecast to 2030 is part of a series of new reports from The Business Research Company that provide market insights, analyze and forecast market size and growth for the entire market overview, segments and geographies, trends, drivers, restraints, revenue, profiles and market shares of key competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographical areas. The report also gives an in-depth analysis of the impact of COVID-19 on the market.

The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.

here is A List of similar reports from the trade research company:

Pharmaceutical Drugs and Biologics Logistics Market – By Service Type (Cold Chain Logistics, Non-Cold Chain Logistics), By Transport Mode (Air Transport, Sea Transport, Land Transport), By Pharmaceutical Type ( pharmaceutical drugs, biologicals), by therapeutic area (drugs for metabolic disorders, anti-infective drugs, drugs for the central nervous system, drugs for respiratory diseases, cardiovascular drugs, drugs for musculoskeletal disorders, oncology drugs, drugs Antibodies, Monoclonal Antibodies (mAbs), Genitourinary Drugs, Gastrointestinal Drugs, Therapeutic Proteins, Dermatological Drugs, Vaccines, Ophthalmic Drugs), and by Region, Opportunities and Strategies – Global Forecast to 2030

Healthcare Market – By Types (Healthcare Services, Pharmaceutical Drugs, Medical Equipment, Biologics and Veterinary Healthcare), by Competitors and Region, Opportunities and Strategies – Global Forecast to 2022

Animal Medicine Market – By Drug Type (Veterinary Pharmaceuticals, Feed Additives), By Additive Type (Antibiotics, Amino Acids & Antioxidants, Vitamins, Acidifiers, Enzymes, Others), By Animal Type (Bovine (Milk and meat), poultry, other farm animals, dogs and cats, other pets), by drug type (brand name, generic), by prescription type (OTC, prescription), by route of administration (oral , Intravenous, Subcutaneous, Others), By Distribution Channel (Veterinary Services, Online, Others), By Level Of Regulation (Highly Regulated Countries, Lightly Regulated Countries) And By Region, Opportunities & Strategies – Global Forecast to 2030

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