Industry Trend Analysis - Counterfeit Medicines To Shape Investment Opportunities In Drug Monitoring Telecare Services - DEC 2017
BMI View: Telecare initiatives that focus on confirming the authenticity of pharmaceuticals and increasing the efficiency of medicine supply chains will play an increasingly important role in strengthening Pakistan ' s healthcare system. PharmaSecure ' s partnership with ProCheck to launch the drug monitoring technology in Pakistan, with the aim of addressing the issue of counterfeit drugs will be beneficial for patient health outcomes. While mobile phone operators and healthcare providers will remain willing to invest funds in the technology, logistical hurdles may restri ct revenue- earning opportunities.
Pakistan's healthcare market will hold opportunities for firms invested in telecare initiatives with a focus on confirming the authenticity of pharmaceuticals and increasing the efficiency of medicine supply chains. Underscoring the recognition of the sector's growth potential, PharmaSecure announced in July 2017 that it has formed a partnership with ProCheck to provide regulatory serialisation solutions in Pakistan.
PharmaSecure is a mobile phone-based digital health service designed to assess the validity of medicines and protect drugs against counterfeiting by printing unique codes on medicine packages. The mobile technology enables patients to verify the authenticity of the medicines with a simple SMS or mobile app. There is no charge to consumers for the service; the company generates its revenues from pharmaceutical companies that subscribe to their services. To date, this drug-monitoring service has protected approximately three billion pharmaceuticals across 40 countries such as the US, China, South Korea, Saudi Arabia and India, through serialisation. For pharmaceutical companies, PharmaSecure's technology provides feedback that helps drugmakers determine the location of their medicines in the supply chain. As supply chains in pharmaceuticals become more global and complicated, a tracking system becomes more critical. According to Nakul Pasricha, chief executive officer of PharmaSecure, 'counterfeit medicines come with a huge cost to everyone - the patient, the doctors and the government. Therefore, it is critical to raise awareness about the dangers of counterfeit medicines and take action to combat the crisis.'
|Strong Mobile Phone Subscriber Uptake|
|Pakistan: Mobile Phone Subscriptions Per 100 Population|
|f = BMI forecast. Source: BMI, Pakistan Bureau of Statistics|