The Medication Compliance Management Market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
New York, NY -- (SBWIRE) -- 04/06/2017 -- The Pharmaceutical industry is usually at the forefront of adopting new technologies to enable major transformations in R&D. When it comes to manufacturing, inventory or supply chain management, they are still stuck in the past though relying mostly on pen and paper. While regulatory and compliance requirements initially drove those companies to use paperwork, the many advancements in the field of Information Technology are too compelling to simply ignore. Unfortunately, there is a human tendency to resist change and once a tried and tested way of working is in place, it is very difficult to initiate any kind of change. There directly leads to companies being so consumed in bureaucracy and managing paperwork that they scarcely have time to see how inefficient their operations truly are.
Modern day pharmaceutical companies have begun to improve their productivity with the help of the Life Sciences Electronic Batch Records Market. Since the passing of 21 CFR part 11 in the year 1997, the U.S FDA accepts Electronic Batch Records. That is why more and more companies have begun to look very closely at the Life Sciences Electronic Batch Records Market. Adopting EBR helps pharmaceutical companies to eliminate paperwork, distribute information quicker and enable strategic planning which thereby improves overall product quality and process efficiency.
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The main drivers pushing the Life Sciences Electronic Batch Records Market forward are –
Improving accuracy – An automated Life Sciences Electronic Batch Record will do a programmed task the same way every single time. Employee productivity can vary considerably based on their health, mood and overall temperament. Sleep deprivation in the medical field can lead to attention lapses or bad judgement which can have catastrophic effects. Automating the paperwork frees up the employees for other critical tasks that may require their attention.
Increasing productivity – The biggest success factor of any organisation is always the people involved with it. By providing an easy to use UI that connects internal employees and even external business partners with the right information, companies can greatly boost their productivity. The Life Sciences Electronic Batch Records Market provides tools that eliminate time-consuming tasks like duplicate or error-prone data frequently seen in paper-based systems.
Reduction in cycle times – An average pharmaceutical company manufacturing cycle is typically between 30 to 90 days, with batch releases themselves taking more than 60 days. In non-conformance situations, these timelines can easily be doubled. EBR consistently execute the manufacturing steps while simultaneously providing a real-time, accurate view of processes or deviation data. The time required to detect, track, resolve, correct or document deviations in manufacturing within paper documentation is almost entirely eliminated.
Compliance and operational cost reduction – EBR systems help pharmaceutical companies to manufacture and store products in a manner consistent and compliant with relevant regulatory authorities. They help in automating and streamlining tasks performed by employees which reduce the chance (and risk) of human error. This directly lessens redundant rework, audits or processes. The Life Sciences Electronic Batch Records Market also helps in cost reduction concerned with printing, storing, reviewing and retrieving extensive medical paperwork.
While the switch to an EBR system has numerous organizational benefits, there are still some challenges that must be overcome for its smooth implementation. Some of the main Life Sciences Electronic Batch Records Market restraints are –
Employee pushback – The Greek philosopher Heraclitus said 'Change is the only constant in life'. However, employees might be resistant to adopt a new technology, especially if they are comfortable with the tried and tested old paperwork methods. They might try to stall the EBR adoption or even refuse to use it entirely.
Inadequate identification of requirements- Every pharmaceutical company has different policies, practices and method of working. There cannot be a single EBR solution for every organisation and an incorrectly designed system not taking the specific requirements into consideration can be more trouble than it is worth.
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The Life Sciences Electronic Batch Records Market Key Market Players are Rockwell Automation, Accelyrs, Siemens, ABB, Emerson Electric Co, Honeywell international and Schneider Electric SE.