Pharma-Tech: Revolutionizing Access to Super-Specialty Medications and Emerging Trends
The landscape of super-speciality medicines, a lifeline for patients diagnosed with rare and critical illnesses such as cancer, organ transplant, or chronic kidney disease, is rapidly evolving. This change has been necessitated, in part, due to challenges highlighted during India’s battle with the Delta variant of Covid-19. The demand and supply imbalance for antiviral Remdesivir and antifungal Amphotericin B brought to light the need for better management of the supply chain for these crucial medications.
A key driver of this transformation is the robust intervention of technology, particularly as seen in the emergence of online super-speciality pharmacies. Pharma-tech companies have begun leveraging advanced technology to improve the availability and distribution of these medicines nationwide. These tech-enabled solutions have not only streamlined the distribution process but also mitigated the issues faced during crisis periods.
One significant challenge in super-speciality pharmaceutical distribution is demand forecasting. Organizations like IQVIA and IPA provide valuable data and trends, but these are often limited to general pharmaceuticals. Here, technology has a significant role to play. Through the use of advanced analytics and patient-friendly data collection, pharma-tech companies can accurately predict demand at the actual place of usage. This could lead to substantial cost savings for patients and improve efficiency in the supply chain.
Innovations in technology also extend to improving drug adherence. Digital reminders and patient-tracking systems can ensure that patients adhere to their medication schedules. This improved adherence, supported by technology, can lead to better health outcomes and more efficient access to necessary treatments.
With the growing integration of technologies like blockchain and smart QR solutions, the pharmaceutical industry is starting to build trust in the supply chain. These track and trace mechanisms provide complete visibility to patients and assurance to manufacturers that genuine patients are accessing their products. Such transparency can potentially persuade more foreign pharmaceutical companies to introduce their therapies in India.
Super-speciality pharmacies are also adopting Internet of Things (IoT) for improved service delivery. IoT has the potential to revolutionize the monitoring of temperature-sensitive products such as injections and vials. Its use in tracking transport and storage conditions can ensure the efficacy of medicines delivered to remote areas. This further expands the reach of super-speciality pharmacies, providing lifesaving medicines at the click of a button.
Future tech-trends suggest that AI and machine learning could further revolutionize this space. These technologies could be used to predict disease trends, customize treatment plans, and optimize the logistics of medicine delivery. In the long term, the integration of VR/AR could provide more personalized and interactive services for patients, including virtual consultations.
As we look towards the future, it is evident that technology will continue to play a pivotal role in the evolution of super-speciality medicine accessibility. With continued tech-innovation, the aim is to create a more efficient, patient-centric pharmaceutical industry that can rise to any future challenges.
(The author is Devashish Singh, Co-founder & CEO of MrMed, and the views expressed in this article are his own)
