Recently, studies have predicted that the value of the pharmaceutical industry will increase to $1.5 trillion by 2023. In anticipation of this unprecedented growth, many life science companies and pharmaceutical manufacturers have made serious investments in the latest and greatest manufacturing trends.
The modernization of pharmaceutical manufacturing and quality management processes has given industry-leading developers the momentum needed to achieve significant growth. So which pharmaceutical manufacturing trends should your life sciences company consider adopting? Let's take a look.
5 Pharmaceutical Manufacturing and Quality Management Trends Your Organization Should Invest In
For a glimpse into where pharmaceutical manufacturing and quality management is headed in the coming years, we've built a one-stop resource of industry insights.
These are the most promising pharmaceutical manufacturing and quality management trends you need to know about this year.
1. Personalized Medicine
According to recent studies, the global genomics market is expected to reach $22.1 billion by 2020, with a 10.3% compounding annual growth rate from 2014–2020. Genomics plays an important role in properly diagnosing diseases and developing personalized medicine regiments.
This year, more pharmaceutical manufacturers will work hand-in-hand with physicians to develop a hyper-personalized approach to medicine. This shift in manufacturing will inevitably lead to smaller production runs, forcing manufacturers to develop an agile approach to development.
Additionally, manufacturers will prioritize smaller, specialized facilities to handle small batches.
2. Digitization of Paper Processes
Many pharmaceutical manufacturers will look to digitize paper processes this year.
When it comes to regulatory compliance, replacing paper-based processes with digital ones allows manufacturers helps eliminate data loss and streamline operational efficiency. For many industry-leading manufacturers, Qualio is the ideal quality management solution partner.
3. Artificial Intelligence
An increasing number of pharmaceutical manufacturers will utilize powerful artificial intelligence capabilities to enhance research and development in the creation of new drugs.
4. Increased Focus on Quality Management
This year, pharmaceutical manufacturers will focus more intently on delivering quality during every stage of product development. Additional requirements instituted by the European Union now require manufacturers, authorized representatives, importers, and distributors of medical devices to comply with new regulatory affairs.
In light of the disruption caused by COVID-19, the European Parliament voted to delay the date of application to Class 1 devices covered under Article 120(3).
Finally, automation is another promising pharmaceutical manufacturing trend that organizations will pursue this year. In fact, according to recent studies, robots will soon handle 34% of pharmaceutical packing operations in North America.
Moreover, an increasing number of manufacturers are using robotics to assist with drug development, including screening, anti-counterfeiting, and various manufacturing processes.
Invest in the Future With Qualio
As you know, documentation is a crucial component of product development.
By investing in an eQMS, you are investing in the future of your product and business. Qualio makes documentation simple with built-in features to help your business secure and maintain FDA 21 CFR Part 820 & 21, CFR Part 11, and ISO 13485 & 14971 compliance.
For many industry-leading medical device manufacturers, Qualio is the go-to compliance software solution.
Additionally, Qualio is routinely ranked as the top quality management platform of choice by medical device manufacturers, pharma and biotech companies, and regulated contract service providers.
If you're considering investing in an eQMS for your organization, we've built a comprehensive guide designed to help you make a be confident in your purchase.