Event Title

Impact of Covid-19 on Digitalization paces of Pharmaceutical Industry

Session

Pharmaceutical and Natural Sciences

Description

Covid-19 has accelerated the need to shift more rapidly into the e-health era. But the digitalization has been a prompt thematic in the last decade if we talk about the pharmaceutical industry. Between the dematerialization of transactions that have taken place for more than 15 years and the "urbanization" which disrupts a whole range of service activities, there are digital opportunities for the industry that enable the most committed and relevant companies to achieve decisive competitive advantages. When it comes to the pharmaceutical industry, digitalization is not yet fully achieved. To face and overpass the several current issues aroused by the pandemic, the pharmaceutical industry must regain a new dynamic through the new opportunities offered by the digital channel. In this regard, this paper aims to analyze and set a picture of the digital transformation within the pharmaceutical industry in the new post-pandemic world, thus analyzing its opportunities and challenges. The paper implements a systematic literature review analysis, focusing on the last decade of research before and post-pandemic, objectively focusing primarily on the mainstream pharmaceutical industry only. The study found that the digital transformation of the pharmaceutical industry is lagging behind other industries because of a departure hampered by the traditional culture of this industry and by the regulatory context to the contrary. Nonetheless, COVID-19 opened new possibilities and made digitalization more than an option a necessity for the new pandemic world.

The research recommendation highlight that each company will need to consider how its businesses are set to be affected by the digital changes underway and then chart its own course accordingly. A better understanding of what digital success looks like will help companies get to their destination: improved innovation and commercial models for pharma companies and better care for patients.

Keywords:

Pharmaceutical industry, digital transformation, digital strategies, healthcare, patients.

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-550-47-5

First Page

1

Location

UBT Kampus, Lipjan

Start Date

30-10-2021 12:00 AM

End Date

30-10-2021 12:00 AM

DOI

10.33107/ubt-ic.2021.77

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Oct 30th, 12:00 AM Oct 30th, 12:00 AM

Impact of Covid-19 on Digitalization paces of Pharmaceutical Industry

UBT Kampus, Lipjan

Covid-19 has accelerated the need to shift more rapidly into the e-health era. But the digitalization has been a prompt thematic in the last decade if we talk about the pharmaceutical industry. Between the dematerialization of transactions that have taken place for more than 15 years and the "urbanization" which disrupts a whole range of service activities, there are digital opportunities for the industry that enable the most committed and relevant companies to achieve decisive competitive advantages. When it comes to the pharmaceutical industry, digitalization is not yet fully achieved. To face and overpass the several current issues aroused by the pandemic, the pharmaceutical industry must regain a new dynamic through the new opportunities offered by the digital channel. In this regard, this paper aims to analyze and set a picture of the digital transformation within the pharmaceutical industry in the new post-pandemic world, thus analyzing its opportunities and challenges. The paper implements a systematic literature review analysis, focusing on the last decade of research before and post-pandemic, objectively focusing primarily on the mainstream pharmaceutical industry only. The study found that the digital transformation of the pharmaceutical industry is lagging behind other industries because of a departure hampered by the traditional culture of this industry and by the regulatory context to the contrary. Nonetheless, COVID-19 opened new possibilities and made digitalization more than an option a necessity for the new pandemic world.

The research recommendation highlight that each company will need to consider how its businesses are set to be affected by the digital changes underway and then chart its own course accordingly. A better understanding of what digital success looks like will help companies get to their destination: improved innovation and commercial models for pharma companies and better care for patients.