According to PharmAid MD Sanjeev Nanda, The emergence of advanced technologies like machine learning and artificial intelligence has changed the face of a great many industries.
Despite lagging behind other industries in embracing new technology breakthroughs, the pharmaceutical industry has seen considerable transformation in recent years and is projected to continue to do so in the future. Sanjeev Nanda, MD of PharmAid, believes that a few developments have the potential to completely disrupt the sector in the future. Are you curious as to what they are? Keep reading to know:
As the Covid-19 epidemic spread, it had varied effects on different persons. As a result, it became necessary to treat each patient as a unique individual with unique medical requirements. This issue is addressed by the latest developing trend of precision medicine. It considers the needs of the patient as an individual, rather than as an extension of a group of persons with similar conditions. Precision medicine, according to PharmAid MD Sanjeev Nanda, is a trend that will likely control the healthcare arena in the future years because of its focus on uniqueness.
Artificial intelligence (AI) and machine learning have altered a wide range of industries, and pharma is no exception. According to Sanjeev Nanda, AI will play a significant part in the sector’s growth, since a large number of companies have already begun to investigate the use of this technology to address numerous difficulties that the industry confronts. Patient identification can be simplified by AI, and the procedure can be made cheaper and faster.
One of the most significant obstacles created by Covid-19’s quick development has been a shortage of enough resources, which is a direct outcome of the time-consuming processes needed in the manufacturing of important medications and other medical consumables. Sanjeev Nanda believes that using single-use technologies to support flexible production will be the next big thing in the pharmaceutical industry. “Flexible production can reduce the amount of time it takes. It can also eliminate various complex tasks, such as cleaning between different stages of production, resulting in increased productivity. “Flexible production can also help reduce waste generation and manufacturing plant energy consumption,” Nanda said.
Another trend that will emerge in the future year is flexible production through the use of single-use technologies. Through the elimination of difficult tasks like validation and cleaning between distinct manufacturing stages, the system can effectively minimise downtime and enhance productivity. It also aids in the reduction of trash output and energy consumption.
Advanced technologies such as machine learning and artificial intelligence have transformed a wide range of sectors. Sanjeev Nanda, a specialist on current technology, believes that they would have a similar favourable impact on the pharmaceutical industry. “A huge number of entrepreneurs are already exploring the potential of these technologies in terms of pharma and healthcare,” adds the PharmAid MD. A huge number of complicated operations can be made simpler, faster, and more cost-effective with artificial intelligence.”
With the epidemic transforming the face of the world as we know it, the pharmaceutical industry is not immune to the upheaval. Only if industry executives are committed to combining existing resources and technology with emerging ones will healthcare be transformed into a better version of itself.
The onset of the pandemic and its various consequences on various groups of individuals has highlighted the importance of treating each patient as a distinct individual with distinct medical needs. Precision medicine addresses this issue and, as a result, has a lot of room for growth in 2021, according to Sanjeev Nanda. According to him, the trend will continue to increase not just in the coming year, but for several years. The epidemic of Covid-19 has ushered in a period of extraordinary transformation in the pharmaceutical business. As the world continues its struggle against the virus, this will be reflected in industrial trends for the following year.