LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems brings to you comprehensive insights into the top challenges facing the pharmaceutical industry in its recent article.
What’s in it for you?
- Upcoming challenges in pharmaceutical industry
- Gain insights into the role of healthcare analytics in shaping the pharmaceutical industry
- Healthcare analytics use cases for pharmaceutical industry
The pharmaceutical industry has been successful for decades. Yet a few challenges in pharmaceutical industry are now forcing the major pharmaceutical companies to rethink their strategies. Talk to our analytics experts to learn more about challenges in pharmaceutical industry.
The increasing accessibility to healthcare services has opened the doors for the pharmaceutical industry players to a broader their target market. Such emerging markets are becoming crucial for pharmaceutical companies. One of the biggest challenges in the pharmaceutical industry now is to shift from a sales and marketing-based model to an access driven commercial model. The commercial atmosphere in the pharmaceutical industry is only getting harder and ruthless. Also, in recent times, healthcare analytics is facing a data evolution.
As the pharmaceutical industry becomes increasingly complex and globalized the sector must become more cost efficient. Request a free proposal to know how our healthcare analytics solutions can help your organization to tackle the challenges in pharmaceutical industry.
According to Quantzig’s healthcare analytics experts, “There have been several speculations about the stationary growth of the pharmaceutical industry, but recent technological advancements are expected to encourage the growth of this industry in the years to come.”
Three Key Challenges in Pharmaceutical Industry
1: Demand forecasting
The biggest challenge in the pharmaceutical industry players is to devise market forecasts and enhance their customer service levels. Demand forecasting is an essential component for the pharmaceutical companies to stay ahead in the competition and match the supply to demand. Ensuring that all the goods are produced at the desired time and delivered seamlessly poses a big challenge to the pharma companies.
2: Price fluctuation assessment
Recent analysis of the pharmaceutical industry shows that many big players in the industry are poised to witness tough times if they fail to adapt with healthcare analytics and other data analytics in healthcare industry trends. Recently the pharmaceutical industry is in need of proper techniques to analyze pricing structures to boost profit margins. Analyzing the shifting customer behavior and fluctuating prices is one of the biggest challenges in pharmaceutical industry.
3: Risk management
Managing risks in the drug manufacturing process and quality systems is of great importance. For pharmaceutical industry players, it becomes very important to maintain product quality. Hence, it becomes challenging for the pharma companies to identify possible risks associated with a product or processes involved in manufacturing, development, and distribution of the product.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal