What are the Key Factors Influencing the Pharma Supply Chain? | SpendEdge’s Latest Blog Explains
March 16, 2020LONDON–(BUSINESS WIRE)–#MarketIntelligence–SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on trends driving the pharma industry.
Currently, pharma supply chains are complex, underutilized, and inefficient. They could not cope with the new drugs that are coming down the pipeline. The majority of medicines require enhanced manufacturing and distribution techniques. Hence, companies in the industry need a new approach to the pharma supply chain to address immediate challenges such as the rationalization of larger manufacturing networks.
At SpendEdge, we understand that companies have started revamping their supply chains. And to help them devise effective strategies, we have highlighted key factors impacting the pharma supply chain.
Factors Impacting the Pharma Supply Chain
New drugs and devices
With new bioengineered vaccines and biologics, pharma supply chains will change dramatically. Companies will be forced to develop more complex manufacturing and distribution processes to prevent impurities in the production process. Also, companies will require novel delivery devices for the majority of specialist treatments, thereby, creating the need for more complex devices.
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Conditional approvals
The launch process for medicines is expected to become more incremental. The approval process for medicines will be graduated due to the introduction of conditional approvals for certain drugs by the US Food and Drug Administration (FDA). Also, regulatory bodies are emphasizing on post-market surveillance and “live licenses” to confirm the efficacy of medicines. To understand compliance requirements in the US pharma market, get in touch with our experts now!
Demand-driven supply chains
Rising clinical advances will offer patients better medicines for acute conditions. This will reduce dependency on hospitals and companies to build demand-driven supply chains and assemble healthcare packages for different patients at ‘super hubs’ before delivering to patients’ homes.
To know more about the factors impacting the pharma supply chain, read the complete article here!
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