DIGITAL TRANSFORMATION IN THE PHARMACEUTICALS INDUSTRY

D.O.O. „ICM“ Bijelјina, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina


Abstract

The 21th century society has been exposed to the Fourth Industrial Revolution, which has an impact on all spheres of social life, including healthcare and pharmaceutical industry. Digital transformation in pharmaceutical industry, being one of the most developed braches of the economy, represents a continuing process of promotion of pharmaceutical companies’ business activities with the use of all available tools and technologies. The focus of pharmaceutical industry has been transferred from products to buyers, and the main goal is to listen to market needs and to make all necessary adjustments to the buyers’ needs. Pharmaceutical companies monitor and analyze information collected through various applications on a daily basis, and they need to be ready to adjust and to respond to the patients’ needs in a brief period of time. For new pharmaceutical companies that use a modern model of pharmaceutical market, the information exchange and their manner of communication with the patients is of a crucial importance for achieving success, because this is the way companies connect with the patients and are enabled to provide a unique care adapted to the patients’ specific needs. To adapt its business activities to newly created market needs, within the industry which is legally strictly regulated, as well as to perform adjustments and digital transformation of the basic business strategies represents a big challenge for the pharmaceutical companies.

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