“Business has only two functions - marketing and innovation.”— Milan Kundera
In the digital era, marketing and innovation are inseparable. The rapid advancement of technology continuously shapes new marketing strategies. The pharmaceutical industry, a crucial part of healthcare, is also evolving with these technological trends. Here are the top 5 digital marketing trends in the pharma industry for 2020.
1. Artificial Intelligence (AI)
Artificial Intelligence (AI) involves developing human-like intelligence in machines and digital devices. Over the past five years, AI has significantly impacted the pharma industry, enhancing drug design, development, and clinical trials. AI helps in:
Developing new drugs
Ensuring drug adherence and accurate dosage
Automating disease diagnosis
Analyzing clinical data precisely
Improving drug trial processes
Introducing new therapeutic methods
Companies like Novartis, Mission Therapeutics, and AstraZeneca are leveraging AI to develop treatments for diseases like Alzheimer's and Parkinson's.
2. Blockchain and Distributed Ledgers
Blockchain is a decentralized, public ledger that stores digital information securely. In the pharma industry, blockchain can:
Verify the authenticity of returned drugs
Prevent counterfeit drugs and medical devices
Ensure compliance in the pharma supply chain
By implementing serialization and barcoding, blockchain technology helps track and trace pharmaceutical products, reducing the risk of counterfeiting and ensuring drug safety.
3. Machine Learning
Machine Learning (ML), a subset of AI, allows systems to learn and improve automatically. In the pharma industry, ML is becoming essential in:
Disease diagnosis and identification
Personalized treatment
Drug discovery and development
Clinical trial research
ML advancements promise significant improvements in research, development, and production within the pharmaceutical sector.
4. Wearable Devices
Wearable devices are becoming increasingly popular in healthcare. These devices, like Fitbits and iWatches, offer therapeutic and diagnostic capabilities, enhancing efficiency and reducing costs. Although currently a small part of the pharma sector, wearable technology is expected to become more integrated, providing real-time health monitoring and data collection.
5. Rise of Digital Therapeutics
Digital therapeutics involves software-driven treatments to manage or treat medical conditions. This emerging technology offers innovative solutions for chronic disease management. For example, digital therapeutics are used to treat mental health conditions like alcohol addiction through digital therapists and addiction management programs. As pharma companies explore digital medicine, it will become more integrated with traditional drug therapies, offering comprehensive solutions for chronic illness management.
Conclusion
The pharmaceutical industry is rapidly embracing digital trends to enhance marketing and innovation. AI, blockchain, machine learning, wearable devices, and digital therapeutics are transforming the sector, offering new ways to improve patient care and streamline processes. Staying updated with these trends will be crucial for success and growth in 2020 and beyond.
For more insights, visit www.digitalmarketing.ac.in/pharmadigitaltrends1.jpg.
