The pandemic of COVID-19 has infected tens of millions people and caused the death of tens of thousands.  It has a great impact on global healthcare systems and posed new challenges for the biotech and healthcare industries.  Though the drug market and the medical device market faced a slow growth in the first half of this year, the changes in consumers’ behaviour create new demand for digital health.  New concepts in pharmaceuticals, medical devices and healthcare are developing and emerging during the pandemic.

The impact on drug R&D and manufacturing

The use of AI and big data could significantly reduce the time in virus genome sequencing, protein screening and new drug development.AI and big data also play an important role in curbing the spread of virus during the pandemic by reducing the contact. Unmanned factories and smart factories, for example packaging line automation, will become a trend in the future.

The impact on new drug clinical trials

This pandemic has interrupted the progress of on-going clinical trials and hinders the recruitment of subjects for new clinical trials.A new approach of data collection is required, for example using separated rooms exclusively for trial subjects to avoid infection, or using long-distance monitoring and controlling tools, etc.

The impact on drug pricing and marketing

During the lockdown in Wuhan, drones were used for delivering drugs and medical devices among hospitals.The pandemic has changed the conventional distribution methods.It will further affect the operation model of drug sales.The emergence of internet retailers will replace community pharmacies after deregulation.As consumers are focusing on drug efficacy, drug companies may change their pricing policy by using effectiveness as the pricing index.

Facing the challenges of the pandemic, governments and industries all over the world are boosting their biotech R&D capacities and expediting the marketing authorization procedures.  The industry in Taiwan should turn this crisis into business opportunities.

【2020-09-07 / Economic Daily】