Emerging markets are accounted for a global pharmaceutical Industry are expected to change the face of pharma by the end of next year and seen as critical for the sustained growth of leading pharma companies. Innovation and technology are key to growth for pharma companies.
Pharma industries are facing rapid growth of chronic diseases like diabetes, hypertension, chronic respiratory problems, cancer, heart disease and neurological disorders.
The pharmaceuticals industry with its major investments in research, reliance on complex chemistry, and understanding of human biology is generally regarded as a technologically advanced sector.
This shift of change gives pharma companies an opportunity to market their global products in emerging markets, backed by tested 'go-to-market' strategies and operating models. Improvements in affordability will be driven by rising disposable incomes and increasing insurance coverage.
Growth in accessibility will come from increases in government spending and medical infrastructure, and new business models for rural areas. The acceptability of medicines is also expected to rise, as a result of the growth in chronic conditions and to increase in the self-administration of drugs.
The traditionally Western pharma markets are becoming challenging from a growth perspective, with governments exerting downward pressures on healthcare costs. Not only are drug pipelines but the risks associated with developing innovative products for regulated markets are constantly increasing. Companies are now committing dedicated resources to conquer emerging markets as a way of sustaining growth. A key driver is the increasing prosperity in emerging markets, coupled with a growing awareness of the advantages of good healthcare and improved lifestyles.
Many reforms that are delayed in the pharma industry:-
· Need to be creative.
· Changing drug/medical agents.
· International alliances.
5 emerging digital health innovations that are having an impact on the pharma industry are:-
1. Precision medicine:-
· Precision medicine is an approach that integrates clinical and molecular information to understand the biological basis of disease.
· This information can be obtained by converting DNA into data through a process called genome sequencing.
· Researchers can use this data to identify specific gene abnormalities, or biomarkers, to understand which types of patients a drug will be most effective for, and who is likely to experience severe side-effects.
· This can aid in the development of new targeted therapies and the repurposing of existing drugs.
· Targeted therapies are tailored to the genetic change of individual patients so genomic testing is required to ascertain the most effective therapy before it is administered.
· This understanding of the relationship between a drug and an individual's genes enables doctors to administer the right drug for the right patient at the right dose, first time – leading to better outcomes and reduced adverse effects.
2. mHealth sensors :-
· Pharma research organizations are already beginning to take advantage of mHealth technology to conduct clinical research.
· Smartphones with powerful processors and advanced sensors that can track movement, take measurements and record information are highly useful in post-market studies and allow people to participate in studies more easily.
· The more people who contribute their data, the bigger the numbers, the truer the representation of a population, and the more powerful the results, so an mHealth app has the potential to engage unpredictable numbers of individuals in large geographical areas.
· Apple currently has several mHealth apps for clinical research on the iPhone, including apps targeting Parkinson’s disease, diabetes, cardiovascular disease, asthma and breast cancer, which have been developed by leading research institutes.
3. 3D printing :-
· Epilepsy drug Spritam (pictured) became the first 3D printed drug to be approved by the FDA.
· The drug's manufacturer, Aprecia Pharmaceuticals, says that it makes the oral medication through a three-dimensional printing process, which builds the pill by spreading layers of the drug on top of one another until the right dose is reached.
· This technique allows the pill to deliver a higher dose of medicine up to 1000 mg while being enough to dissolve quickly.
4. Nanotechnology:-
· Nanotechnology refers to microscopic technology that is of the scale of between 1 to 100 nanometres.
· Due to their microscopic size, nanoparticles can easily travel around the human body in the blood stream.
· Nanoparticles are usually composed of biological-based Nano-machines which have already been shown to assist in the delivery of anti-cancer drugs and to reduce toxicity.
· Medical researchers are also investigating the potential to use microscopic robots called nanobots, which can be pre-programmed to perform tasks inside the human body.
· Non-Robots consumed in the form of a pill or injection could even seek out and destroy cancer cells or perform surgical tasks internally.
For many of the last five decades, India has been known as the largest exporter of generic drugs, particularly to the United States. However, today, in 2016, India is getting to be known for a bit more than that: as an emerging hub of pharmaceutical research and development. Companies such as Dr. Reddy’s Labs, Wockhardt, Advinus, Lupin, Zydus Cadilla, Cipla, and many others started investing in pre-clinical development of small molecules with novel targets and with novel mechanism of action.