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Technological Future Of Pharmaceutical Industry– Development Perspectives

Author

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  • Vladimir Boychev

    (UNWE, Sofia, Department of Tourism)

Abstract

Digital revolution and innovations are the modern phenomena pharmaceutical industry should take advantage of. The prevention of diseases will also facilitate the progress of the sector. This publication examines the key factors influencing pharmaceutical industry behavior and bears the potential to drastically change the sector in the upcoming years. The forthcoming challenges and changes appearing on the horizon require careful and precise consideration of new kinds of markets, alternative business models or even a complete change in the way pharmaceutical companies operate. The future of the industry is defined by the introduction of various technologies that are currently changing and will continue to change all aspects of the industry – production of pharmaceuticals, supply chain, clinical trials, etc. The leading tendencies in the advancement of the pharmaceutical sector in 2019-2021 are also analyzed with a focus on new technologies and digitalization. Different trends have changed the sector inevitably having both short-term and long-term impact.

Suggested Citation

  • Vladimir Boychev, 2022. "Technological Future Of Pharmaceutical Industry– Development Perspectives," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 10(1), pages 68-77.
    • Handle: RePEc:neo:epjour:v:10:y:2022:i:1:p:68-77
    DOI: 10.37708/ep.swu.v10i1.7
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    More about this item

    Keywords

    pharmaceutical industry; transformation; digital future; perspectives; artificial intelligence; drug development process; robotics;
    All these keywords.

    JEL classification:

    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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