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Cornell Student Articles on Topical Affairs

Future of health and pharmaceuticals is digitally driven

The health and pharmaceutical industry is one of the world’s biggest and fastest growing industries. Currently valued at over $86 billion worldwide, this is an industry that continues to prove its worth time and again. And, in recent years, it has also become an industry that has been exceedingly driven towards digitalisation and technological prowess. Not unlike the rest of the modern world, the health and pharmaceuticals industry has found itself having to realign and reshape to stay up to date with the way that the world is moving. In the wake of technological advancement, everything is changing. Now, the digital revolution of health and pharmaceuticals is putting into immediate effect the single largest evolution in the industry’s history. It is an evolution that is bringing to the forefront the latest and greatest in technological advancement, and it is quickly turning ripples into waves. Change is here, and it is full of hope and promise for what the future of health and pharmaceuticals holds.

The digital era is well and truly upon us, and every aspect of modern life, every industry is being transformed in the wake of the dawn of this new upcoming era. More than ever, we are seeing digitalisation and technological enhancement become more mainstream and commonplace in the world around us. In the health and pharmaceuticals industry, for example, technology and rapid digitalisation are making their mark in multiple ways, each as exciting and innovative as the next, and each proving just how wondrous the modern revolution that is technological enhancement, really is. Historically a data-driven industry already, it is intriguing to realise that there is in fact a remarkable difference between basic digitalisation (think devices and systems and digitally log patient records or prescriptions, for example) and widespread and in-depth technological advancement (we are still very much discovering what that is and what it means for the world).

Consider the introduction of online shopping, for instance. Companies like Gesundheit-im-Leben and the like have significantly expanded their client reach through the online marketplace, and it has given consumers a chance to understand the world of health, healthcare, and all that they mean, in greater depth. In an industry that demands more attention to detail in terms of awareness, representation, availability, and reliability, a marketplace that is open 24/7 is priceless. Further, the online marketplace has allowed for a much stronger economic standpoint for the landscape of health and healthcare. This is, of course, just one example of technological advancement and rapid digitalisation in active play in the health industry, but it is also definitively one of the most profound examples there is. All around us, at any given time, there are great feats of digitalisation and technological advancement in play.

In the industry of health and pharmaceuticals, another great example of digitalisation in motion within the sector is the automation of processes and systems whenever necessary or possible. It is a well-known fact that the health and pharmaceuticals industry can be a tedious and often time-consuming one to deal with, and the automation of the very same processes and systems that have been tedious in the past makes the entire industry run a lot smoother and without as much incident. As we head further and further into the digital era, we are made even more aware of how pillar industries like the health field are instrumental to our very lives and our future. Without taking the steps to modernise (like embracing and encouraging digitalisation and technological advancement, for instance), it would be an industry that slowly begins to barrel backwards. Now, in the wake of surging technological advancement and rapid digitalisation, there is nowhere to go but up and up, and the health and pharmaceuticals industry is the better for it, at the end of the day.

The modern world that we have come to know and love is one that is paved with good intentions and technological advancements to boot. It seems that, every which way one turns, they are met with technological innovations of some kind. It appears to be the way of the modern world, that technology would become such a prominent force. In the health and pharmaceuticals industry especially, technology and digitalisation are innovations that are taking an already data-driven sector and driving it further and further into its technological means. There has never been such a remarkably exhilarating and intact push towards further digitalisation in the global health industry, but now that it is here, it is proving to be incredibly valuable, almost to the point that it is implausible to think of a world where it did not exist. One thing is for certain: the health and pharmaceuticals industry is being positively transformed from the inside out, and the best and most impressive is yet to come.

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