Revolutionizing Pharma through IoTWednesday September 5th, 2018 Sridhar Ethiraj, Data Analyst
Internet of Things (IoT) is the connection between the devices via Internet e.g. cars, kitchen appliances, and even heart monitors can be connected through IoT. The connected devices talk to each other (transfer of data) thereby serving humanity in a better way.
Compared to other industries, the life science industry has been more reactive than proactive in technology adoption due to tight regulations and domain complexities. But due to patent cliffs, increasing costs, compliance, non-adherence and falling R&D productivity, smart sensors and machine to machine communication technologies have ventured into the market. Hence, lab automation along with the emergence of IoT is influencing the life science industries for a futuristic rapid change.
IoT and Big Data will transform patient care and reduce the number of readmissions and clinic visits through real time monitoring and guidance in their care. To revolutionize the Pharma and Life Sciences industry, partnership between R&D and Information Technology is paramount.
- Ease of use like plug-in plug-out will improve the business operations to next level with application improvement.
- Scaling and management of large volume of structured and unstructured data shall give better performance constantly.
- IoT enables connectivity and easy give-and-take of data remotely as well as in real-time.
- Pharmaceutical companies could collect massive chunks of data across various departments with deployment of sensors.
- IoT provides better visibility and control.
- Evolved device platforms and the ability to manage Communication across various tech platforms.
- Maintaining data storing, data analytics and consistency across different multiple systems.
- Data privacy, security and vulnerability management.