The Pharmaceutical industry is one of the key sectors in healthcare providing life-saving medicines to people around the world. However, this industry faces some challenges that affect its operating efficiency. The primary problem? Disorganisation. From lack of regulatory consistency to problems in the fragmented supply chains, the pharma industry experiences setbacks that hinder its progress. Let’s shed some light on these issues, focusing on what’s causing them and presenting potential answers to address and reform the pharmaceutical framework.
From facing long delays to inflating medication prices to most importantly, medicine shortages, these obstacles have infected the pharmaceutical industry to a considerable extent. These issues suffer patients the most who rely on medicines to meet their healthcare needs. The foundation of these challenges isn’t just led by a lack of supply but is rooted in disorganization within the system.
Understanding the disorganisation – The root causes
Fragmented pharma supply chain
This is one of the most common contributing causes, especially in India where the pharma supply chain is highly disjointed. With multiple independent distributors and supply chains, the journey of medicines from the manufacturer follows a twisted path before reaching the customers. This often adds up to the complexities, costs, and delays in supply resulting in medical shortages.
Lack of pharma regulation
Regulation around the pharma industry varies from state to state in India. This creates a conundrum for pharmaceutical companies to function smoothly across regions. The variations in drug pricing and distribution affect healthcare providers who often find themselves sailing through an inconsistent system.
Such inadequacy further scales up other issues like counterfeit drugs, and poor quality checks. Without proper regulations, substandard drugs can sweep smoothly through the cracks putting patients at risk.
Communication problems
Communication gaps are quite prevalent within the pharma sector which makes it difficult to address problems quickly before they escalate. For, instance, if a distributor fails to communicate properly about the increased demand or depleting stock of medicines to the manufacturer, it can lead to delayed supply or even stock-out.
Why it matters?
Impact on patients
The disorganization has a direct effect on patients who are faced with medicine shortages now and then. This can deteriorate their health conditions leading to longer hospital stays or even result in unnecessary deaths. If the pharma industry were more coordinated, patients would have access to the medications at the right time and at the right cost.
Economic consequences
The lack of order in the pharmaceutical sector isn’t just a matter of inconvenience but has real economic repercussions. The fragmented supply chains have inflated the medicine cost making common people cost a fortune. Plus, when drugs are out of stock or delayed, it forces the patients to pay even higher prices for alternative treatments.
Innovation is stifled
Based on all of these issues, the big question that arises is if the pharma industry can’t reliably provide already existing medicines how can they possibly innovate and develop new drugs?
How to fix the problem?
Embrace technology
Making use of technology like blockchain can improve transparency and make sure that drugs are traceable at every step. It can help manufacturers to get real-time data on stock level which can help prevent shortages. The use of AI tools can also help to keep track of and predict drug demand. Companies like PharmEasy have already set their digital foot and utilized a direct-to-customer platform to sell medicines to customers.
Standardized regulations
A more consistent and streamlined regulatory framework needs to be established in India with national standards to combat the counterfeit drugs spreading in the pharmaceutical market. Stricter quality controls and distribution strategies can help ensure that patients receive safe medicines at controlled prices.
Improved communications among stakeholders
Developing a system where the supply chains can share real-time information will help fix the communication gaps in the sector. This would benefit everyone and make sure that the manufacturers, distributors and healthcare providers all stay on the same page.
How are companies tackling pharma supply chain issues?
AstraZeneca and blockchain
In an attempt to encounter problems in the supply chain, AstraZeneca has begun utilizing blockchain technology to keep track of drug movement across various supply stages. By incorporating transparency, they have ensured that the medicines reach the right location at the right time and also reduce the probability of counterfeit drugs.
PharmEasy
The company has transformed the way medicines are sold. By effectively utilizing the digital platform, they have been successful in excluding the middlemen and delivering medicines to patients at a reasonable amount.
Conclusion: Organising the pharma industry for a better future
In spite of difficulties within the healthcare sector, there is a great potential to turn things towards a positive path. By addressing the issues and overcoming the barriers, we can ensure that the pharmaceutical industry shapes into a more organised sector. The journey won’t be an easy one but with the right strategies, the goal is achievable. This calls for the healthcare providers to come together and build a system that favours everyone.
