The Indian Pharmaceutical Market (IPM) was valued at Rs. 10,278 crs in the month of September 2016 clocking a strong 10% growth over same period last year (SPLY). On a MAT September basis, the industry was valued at Rs. 111,022 crores and reflected a 13% growth with volumes contributing around 40% of this growth and New Introductions playing an important role with around 38% contribution to the overall growth.

The digital revolution is the fourth industrial revolution. It changes models, processes and whole public sectors. In many reports you will find that, in terms of digitalization, pharma is just next to the public sector, as least digitalized. Pharma just started late. There are many reasons for that – it is one of the most regulated industries with lots of sensitive data involved and many ethical aspects. But the slowed down digitalization has a lot to do with some subjective reasons. Adopting digital technologies requires changing existing models which requires a different mindset – and this is difficult to achieve. Nowadays, in the situation of a global pandemic, we see that digital communication is not only necessary to be successful but it is a must in order to adapt to the New Normality.

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