Baltic Journal of Economic Studies (Jun 2024)
STRATEGIC IMPERATIVES FOR DIGITISATION OF THE UKRAINIAN PHARMACEUTICAL INDUSTRY
Abstract
The purpose of the paper is to identify the strategic imperatives of the pharmaceutical industry in the context of the development of the digital economy. Inclusion of the pharmaceutical industry in the list of priority sectors of the economy will help attract state investment support for production and increase the number of jobs. This will help to prevent a collapse in the supply of medicines and medical devices to the healthcare system and ensure their uninterrupted production and supply to the end consumer. The population of Ukraine will have access to quality medicines and medical products. Methodology. The article presents an analysis of the indicators of the pharmaceutical industry for the period 2019-2023. These include the volume of import and export of pharmaceutical products, the structure of the main marketing organisations in the pharmaceutical market, leading drugs in terms of sales volume on the Ukrainian market, the structure of sales of "pharmacy basket" products, and the volume of hospital supplies in terms of funding sources. This paper analyses the main trends of digitisation in the pharmaceutical industry at the global level and in Ukraine in particular. A SWOT analysis was conducted to assess the development of the pharmaceutical industry in Ukraine. The analysis focused on identifying the key factors that contribute to the successful development of e-commerce in the pharmaceutical industry. Results. The publication identifies the main positive and negative manifestations of digitalisation of the pharmaceutical industry in Ukraine and the factors that hinder its development. Practical implications. Thus, the introduction of digitalisation tools in the Ukrainian pharmaceutical industry is an important step towards improving its competitiveness. The deployment of smart manufacturing systems makes it possible to produce medicines faster and more accurately. Such technological solutions can help to optimise the supply chain, which is important for the pharmaceutical industry, where the accuracy and speed of supply of medicines is critical. The use of digital technologies improves control over the safety of pharmaceutical products and increases production efficiency. Automation of business processes through the use of AI, VR, AR, cloud computing, big data, etc. can help reduce production costs and improve product quality. However, the implementation of digitalisation technologies in the pharmaceutical industry also requires significant investments and qualified personnel, which may temporarily reduce competitiveness due to higher prices for finished products.
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