The pharmaceutical industry has experienced an abundance of change and adaptation as of late due to recent advancements and technological growth. The capabilities of current healthcare technologies are far more advanced than what they were 5-10 years ago.
That being said, there is still always room for improvement and strategies to mitigate inefficiencies.
As of late, those in the pharmaceutical and related industries have been focusing on collaboration to overcome certain obstacles and expand our current knowledge. Whether this is through partnerships or collaborative research, the collective idea of joining together to improve processes has many benefits.
If you are a company in the midst of an industry transformation or partaking in activities seeking technological advancement, EVAMAX can help you discover the innovation grants and benefits you could be eligible for.
As previously stated, technological growth and advancement have had a huge impact on the pharmaceutical and healthcare industries. We are now capable of completing tasks and performing operations that were not possible years ago. Through collaboration, we can enhance and expedite this process in order to be more successful in our findings.
For example, Pfizer has partnered with IBM to predict new potential drug targets. Through this partnership, Pfizer has gathered research that can lead to new treatments such as new cancer therapies.
When associated with technology, partnerships can develop products, personalize medicine, expand research capabilities, and so much more. Collaboration amongst those in the pharmatech industries will avoid wasted expenses through streamlining processes and techniques to be as efficient as possible.
In addition, collaboration in the pharmatech industries will assist the research, treatment and mitigation of complex diseases, such as Alzheimer’s and diabetes. Issues arising around such complex diseases are only increasing as the number of victims is expected to continue growing.
As an example, the number of people affected by dementia is expected to more than triple in 30 years time. To combat this, the prime minister of the United Kingdom, where there are 500,000+ people are affected by dementia, has made efforts to collaborate with industry experts to work towards a solution.
A program called the Dementia Discovery Fund was launched to gather funding from private, public, and philanthropic sectors. The purpose of this was to pool their expertise together in order to expedite the process of identifying a treatment. There are similar funds and partnerships around the world that pertain to different aspects of the pharmatech industry. The information acquired through collaboration can lead to research targets and ultimately new treatments.
All in all, collaboration is key in accommodating the constant adaptations within the pharmatech industries. Even health care providers and other pharmaceutical companies are on board, collaborating with patients in order to identify better treatment outcomes.
The key to solving the issues we face is to work together in order to compile expertise from a broad range of skillsets and knowledge.