Know Pharma Digital Marketing Trends in 2020 to succeed and grow


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“Business has only two functions - marketing and innovation.” -Milan Kundera

In this Digital era marketing and innovation go hand in hand. With the advancement in technology and abundant digital resource, the growth of marketing strategies is growing at a steady rate. The Digital trends are sets of trending technologies which help in reshaping a sector which will drive the most value with the marketing strategy in the market. 

Pharmaceutical Industry is an essential sector in the healthcare market and is quite evolving with the latest technologies coming. In this blog, I’m going to enlist the top 5 Digital Pharma Marketing trends that we will be seeing in 2020. So, let’s start.
  1. ARTIFICIAL INTELLIGENCE (AI)


It is a branch of computer science which deals with the development of human intelligence into machines and digital devices. It is defined as the stimulation of human intelligence in machines and digital devices programmed to think like humans and mimic their actions.
Since last 5 years, AI has advanced in the Pharma domain with bringing enhancement in the process of drug designing and development and it has redefined how scientists develop new drugs, tackle the disease, provide quality results and many more. For pharmaceutical businesses who flourish on innovation, AI works as an important asset. According to Narrative Science, sixty-one of firms finance in innovative ways area unit mistreatment AI to spot opportunities that they might have otherwise lost.
Following are the reasons how AI and Pharma when combine will save more lives:
  • Developing New Drugs
  • Drug Adherence and dosage
  • Automated disease diagnosis
  • Better and Précised Clinical Data Analysis
  • Drug Trials process
  • New therapeutics method
And there are many more. Few Examples of companies using AI currently are Novartis using AI technology to create new and improved treatments and find ways to provide people with treatment quickly. Mission Therapeutics and Verge Genomics are using AI to predict new treatment for Alzheimer’s. AstraZeneca with Berg is evaluating novel ways of treating Parkinson’s disease and other neurological disorders.

       2. BLOCKCHAIN AND DISTRIBUTED LEDGERS




“Blockchain is a distributed, decentralized, public ledger.” – is how it has been defined. So, what exactly is blockchain? In layman terms, it’s a chain of blocks where we are talking about a system of digital information (block) stored in the public database (chain). These blocks in the blockchain are made up of digital data stored in the public domain. These blocks are mainly made up of three elements i.e., 
  1. Transaction data like date, time, amount of purchase 
  2. Data about who is participating in the transaction and lastly 
  3. Information that distinguishes them from other blocks
Now, how is blockchain going to bring advancement in pharma domain? To make you understand this, I’m citing a few examples below:
  • Verifying the authenticity of the drugs returned: Wholesalers order drugs in bulk and sometimes have to return the unused products. Now, how can one check the authenticity of the returned supplies? In the US, the drug supply chain security act (DSCSA) demands all the US manufacturers implement serialization or barcoding of all its manufactured drugs at a packaging level by February 2018. Europe similarly has a Falsified Medicine Directive. 
  • Prevention of counterfeit drugs and medical devices: “The World Health Organization (WHO) estimates that 8 per cent of the medical devices in circulation today are counterfeit copies.” Manufacturers have a difficult time in tracking and tracing their products which makes it easy for counterfeiting and introducing fake drugs into the system. 
  • Compliance In Pharma Supply Chain: Blockchain technology gives pharmaceutical supply chain more advantages over traditional methods as now a company can track the real-time monitoring of parameter like humidity, temperature, air quality etc. with advanced smart devices like IoT devices etc. while transportation.


     3. MACHINE LEARNING



Machine learning is a subsection of AI which provides systems ability to automatically learn and produce improved results. Today, Machine learning is very advancing technology in not just pharma industry but in the healthcare industry in all. As the limitations are reducing with advancement, the opportunities in the healthcare and pharma domain are mounting up rapidly. Machine learning will become a very important tool in the Research and Development department and also in the Production Department. The advancement isn’t far away if the right infrastructure and innovation ideas are in place. Some applications of ML in the pharma industry are Disease Diagnosis/Identification, Personalized Treatment, Drug Discovery and Development, Clinical trial research and many more.


   4. WEARABLE DEVICES  



Wearable devices are the new trend in this digital world. According to Global Data with wearable technology becoming more disease-specific with therapeutics and diagnostic capabilities, the costs are going to be lower with increased efficiencies. Though the pharma sector makes a small proportion of wearable devices now, in the upcoming years, it will lead to an integrated system in the Pharma sector, as predicted by GlobalData. Experts say the wearable technology will increase rapidly in the next three years. Latest devices that are in trend are Fitbits, Jawbones, and iWatches. The biopharma company Intarcia Therapeutics is developing a matchstick-sized mini-pump for the treatment of type 2 diabetes and there are many more such advancements in the line. 

      5. RISE OF DIGITAL THERAPEUTICS

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Digital therapeutics is a subset of healthcare which provides treatments and therapeutics driven by software programs to prevent, maintain, or treat a medical disorder or disease. It is an emerging technology which is going to be face changer soon. A mental health condition like alcohol addiction is currently treated via digital therapeutics where everything from digital therapists to addiction management all is controlled via this technology. 
As the pharmaceutical company continues to check and exploit the potential of latest technologies, digital medicine can become more and more integrated into ancient drug therapies for several chronic conditions which are centred on illness management, which needs time period observation and use of therapies. 

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