How will Pharma 2021 unfold?

Dr RB Smarta, CMD, Interlink and VP, HADSA elaborates on ten trends that will greatly influence the pharma industry in 2021-22

- Dr RB Smarta

2020 was an eye-opening year for every industry and the pharma industry is not an exception. From supply chain disruption due to over-dependence on China to fractured fieldwork and numerous allied unfavourable changes, we faced several challenges and are still facing them.

But, all these changes have taught us many things and now we are evolving. Overreliance was always dangerous and the COVID situation played its cards so hard that now we can’t afford to oversee any problem and we are getting equipped to fight possible future uncertainties.

It is said that challenges never come without opportunities. The same is applied to our pharma industry which is now evolving through the impact of the COVID-19 pandemic to chase new opportunities.

Also, we have an educated population of patients whose mindset has evolved to a better and greater extent during this period. They have become health conscious because of the pandemic. Even the vaccines will increase the pharma market. So, a new segment is going to emerge i.e., immunisation.

Game-changing year

FY 2021 is likely to be a game-changing year for the healthcare industry. Due to the pandemic experience, the population is focusing on health, fitness and building immunity. Strengthening health and wellness as well as fitness of the body is going to be a major focus all over the world.

As a result, the pharma industry will no longer be able to focus only on illness while providing medication but will have to keep a balance of how quickly a patient's health is restored. To do that, besides hospitals, building rehabilitation centres, health clinics and gymnasiums along with yoga will be seeing the light of day.