TRENDS IN THE EVOLUTION OF THE PHARMACEUTICAL INDUSTRY MARKET IN THE PANDEMIC CONTEXT

Romeo-Aurelian Clinciu and Gabriel Dumitru Mircescu
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Romeo-Aurelian Clinciu: University Valahia of Târgovişte
Gabriel Dumitru Mircescu: University Valahia of Târgovişte

Social-Economic Debates, 2021, vol. 10, issue 1, 1-9

Abstract: This article delves deeply into the intricate facets of the pharmaceutical industry's evolution, contextualized against the backdrop of the unparalleled challenges and opportunities that have arisen due to the pandemic. In the midst of the pandemic, the pharma industry has showcased an exceptional ability to adapt and innovate. Conventional drug development processes were expedited, marked by a significant shift toward digital solutions and virtual trials. The vulnerabilities in supply chains prompted a comprehensive reevaluation, leading to the implementation of enhanced resilience strategies and a focus on diversification. Noteworthy are the transformations observed in consumer behavior and healthcare systems. A heightened awareness of health has driven demand for preventive and self-care products, and the realm of telemedicine and remote healthcare services has flourished.

Keywords: pharmaceutical industry; digital transformation; consumer behavior; telemedicine; regulatory changes (search for similar items in EconPapers)
JEL-codes: I11 I18 L51 O38 (search for similar items in EconPapers)
Date: 2021
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