Title: EFFECT OF DIGITAL TRANSFORMATION ON PHARMACEUTICAL BUSINESS AND ITS IMPACT ON MARKETING PRACTICES REVIEW
Authors:
Tarek El.shabrawy and Amr Sukkar PhD, MPhil,MBA
Abstract:
Digital transformation refers to the use of technology to develop novel business models, methods, software, and systems that enhance profitability, competitive edge, and efficiency. Digital transformation encompasses the incorporation of digital technologies across all facets of an organization mainly for cost optimization, resulting in a profound alteration of its operations and value proposition. The advantages of digital transformation in healthcare encompass heightened operational efficiency, expanded decision-making capabilities, and improved customer experience by augmenting and facilitating accessibility for healthcare professionals, which has been impacted by the current business model. Nevertheless, the pharmaceutical sector has been sluggish in embracing digital transformation as a result of cultural aversion to change, insufficient proficiency in digital technologies, and apprehensions over data privacy and security. This delay may impede the industry’s competitiveness and its capacity to tackle forthcoming healthcare concerns.
Keywords: Digital transformation, pharmaceutical marketing, healthcare, pharma business model, value proposition.
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