How-Digital-Transformation-is-Affecting-the-Pharma-and-Healthcare-Industry

How Digital Transformation is Affecting the Pharma and Healthcare Industry?

The healthcare and pharmaceutical industry has seen some changes throughout the years, from the time when certain illnesses and diseases were deemed incurable, this industry has now come a long way through research and discoveries.

With every passing day, discoveries are being made and cures for previously incurable diseases are now being discovered day by day. However, recent times have also brought about another layer of transformation. The digital age.

Through digital transformation, the healthcare and pharmaceutical industry has now been able to reach out to people all over the world. While the digital age had already set in over a decade ago, the reason it has become all the more popular now is due to the pandemic. Earlier, digital use to get healthcare-associated help was not as required, especially by patients since doctors prefer examining patients one-on-one.

While this is the ideal way to do it, the pandemic left no option and had doctors themselves recommending patients to stay indoors and have conversations via phone calls, video calls, and emails only. Although when it comes to the other side of digital use, which is done by hospitals and pharmacies, the use of digital help has always been appreciated.

The introduction of digital resources has made the task of collecting, saving, and sharing information incredibly easier than earlier. Let us get a little more into detail about how digital transformation has changed lives for both healthcare receivers and givers.

More Control

Through the introduction of personalized apps and websites, patients and doctors both are in control of fixing appointments, sharing reports, and having a one-stop of all information. Earlier, patients would have to visit clinics or call clinics up with the hope of getting an appointment.

There was no way one could get appointments way before time either. Now with online calendars, appointments can be planned as per the patient’s and doctor’s availability.

Lesser Trips Outside

Back when online reports were not a thing, making trips to a hospital multiple times in a week was nothing new. If you were surrounded by family, lucky you, but if you were alone, making trips to a hospital while sick would be a matter of risk. However, with the digital age coming into the picture, you can not only get your reports online but also get intimidated when your reports get ready through SMS and emails.

Immortal Information

Having hard copies may seem secure, but if unfortunately, your home falls victim to a fire, burglary, or perhaps you simply lose a couple of boxes while moving, you could end up losing important files containing years’ worth of medical history. This possibility automatically gets eliminated when you have a soft copy in your email or folders.

Even hospitals get to maintain detailed files of their patients so they don’t have to inconvenience any patients by asking them to get previous files of the same hospital. Not to mention, this is a great space saver. Always best to store this in compact spaces instead of closets and files.

Discoveries

There was once a time when a failed kidney meant a transplant or constant transfusion. However, in recent years, the concept of wearable kidneys has taken off so well. At least now through the wait for another transplant, one can continue to live a normal life. Similarly, development in so many other specters has led to creating a better quality of life for patients.

Just like next-generation sequencing and the creation of wearable organs, the healthcare industry will be seeing major game-changing discoveries soon.

Progress Trackers

Through visually appealing apps, taking care of health has now been converted into a matter of fun. Through games, levels, and ways to socialize, youngsters, adults, and even senior citizens can discover how fun taking care of your health can be.

They also get to socialize with others who are in the same boat, thereby knowing that they are not alone in their journey. They also get to share milestones and achievements with friends and family which can be a great boost of motivation.

Encouraging Doctor Consultations

For quite a few people, hospitals are a very scary ride. Children and even some adults do not like how a hospital feels and therefore avoid going in for a consultation until things are absolutely at their worst.

This is extremely dangerous for the health and well-being of citizens. Through digitization, patients can now indulge in consultations with doctors online. Not just this, but now citizens can work with doctors all over the world from different medical backgrounds. The world is now an oyster for patients.

Cons:

Since every coin has two sides, there are and always will be concerned about the negative impact of digitization. There are several arguments as to whether or not quality treatment can be provided through virtual calls and if doctors can give an appropriate diagnosis only through video calls. While these maybe some of the points of concern, the positives overshadow the negatives. Through trial and error, even these cons will get a permanent fix soon.

Healthcare and Pharmaceutical Industry Market Growth

As per market research, the global healthcare IT market is projected to reach USD 827 billion by 2025 from USD 320 billion in 2020, at a CAGR of 20.0% during the forecast period. The global pharmaceutical manufacturing market size was valued at USD 406 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12% from 2020 to 2028. While most industry’s market growth has been hit due to the pandemic, the market growth of the healthcare and pharmaceutical industry only seems to have increased.

The need for better medical services and assistance has never been as important as it is now. We still have a pandemic to fight which can only be done through quality and quick medical help. Now with the development of new types of vaccinations against Covid, we may see great results and perhaps even the end of this pandemic soon.

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