How Advances in the Internet of Things (Iot) Devices and Wearable Technology Will Impact the Pharmaceutical Industry

Today, patients can use their wearable or IoT devices to report data of physiological parameters and track their own health records. IoT wearable technology has been embedded with software and sensors to create a connected network that collect and exchange data. Advances in digital health have fundamentally changed the business model of the pharmaceutical industry, and has impacted all aspects of a pharma company’s structure—from sales and marketing, to R&D and business-to-business activities. As healthcare becomes more digitized, pharma companies are transforming to remain competitive by rethinking their business and operating models, their cultures and capabilities, and adopting policies that nurture innovation and courageous strategic moves.