Categorynews

Finding the Future of Pharma Manufacturing | Infiniti’s Recent Article Outlines Strategies to Reduce Cost and Boost Efficiency

May 26, 2020 Off By BusinessWire

LONDON–(BUSINESS WIRE)–#CompetitiveIntelligence–A well-known market intelligence company, Infiniti Research, has worked with 100+ companies in the manufacturing industry across the globe. Our expertise in the field of market research enables us to offer tailored solutions that empower manufacturing industry leaders to gauge how prepared and well-positioned they are for the future. Request a free brochure to learn more about our solutions portfolio.

The growing rate of the aging population with significant unmet needs is creating a high demand for pharma manufacturing companies. However, pharma manufacturing companies are also facing headwinds from unattractive pricing and volume expansion across all regions, growing size and bargaining power of payers, the emerging biological patent cliff, and the growing competitive pressure. Amidst these challenges pharmaceutical manufacturers are seeking to reduce operational costs and streamline cycle time within R&D.

Is your business prepared to meet the demand-supply upheavals due to COVID-19? Request a FREE proposal for comprehensive market insights and agile strategies to overcome market disruptions due to the ongoing crisis.

Our pharma industry experts have listed out some key strategies that pharma manufacturing companies can use to gain efficiency and enhance their R&D process:

Partial outsourcing: Outsourcing at least a small part of research and development processes to emerging markets and low-cost centers can help pharma manufacturers to considerably reduce their overall costs. Companies in the pharma sector can take inspiration from other significant industries to relocate certain operations to areas where labor costs are cheaper. However, some pharma manufacturing companies are often skeptical about outsourcing R&D as it carries a heavy risk. This is one of the prime reasons why experts suggest shifting only non-core activities to low-cost centers.

Business process management: Companies in pharma manufacturing can gain increased efficiency by relying on business process management. Redundancies in processes can be reduced through automation and optimization. This can also help pharma manufacturers reduce their time to market and enable regulatory compliance with R&D phase of a new drug such as simplifying clinical trial processes, minimizing errors, and creating a collaborative research environment.

Ensuring business continuity a challenge due to COVID-19? Request more info to learn how Infiniti is helping companies around the globe assess the business impact of the coronavirus outbreak and plan for business revival post-COVID-19.

About Infiniti Research

Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us