Africa may be the only pharmaceutical market where genuinely high growth is still achievable. Here’s what’s driving that strength and how companies should react.
Industry leaders emphasize the importance of four management practices in a transformation.
Few industries are facing as much external change as pharmaceuticals and medical products, whether it be sustained global demand and the need for drugs and devices, accelerating cost pressures on health systems,
In the past 20 years or so, manufacturers have been able to reduce waste and variability in their production processes and dramatically improve product quality and yield (the amount of output per unit of input) by implementing lean and Six Sigma programs.However, in certain processing environments—pharmaceuticals, chemicals, and mining, for instance—extreme variability is a fact of life, sometimes even after lean techniques have been applied.
The adoption of IT in healthcare systems has, in general, followed the same pattern as other industries. In the 1950s, when institutions began using new technology to automate highly standardized and repetitive tasks such as accounting and payroll, healthcare payors and other industry stakeholders also began using IT to process vast amounts of statistical data.
The science of genomics is at the beginning of a new era of innovation. The rapidly declining cost of gene sequencing is making huge amounts of genetic data available, and the full power of information technology is being applied to vastly speed up the process of analyzing these data to discover how genes determine traits or mutate to cause disease.