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The impact of IoT on the radio-pharmaceutical industry ensuring an efficient supply chain

Website Editor • Apr 27, 2020

Nuclear medicines pertain great value in the health industry and have significant demand globally, resulting in the need for efficient supply chain deliveries and distributions.

The efficient delivery and distribution of time-sensitive radio-pharmaceuticals are reliant on an effective supply chain. The supply chain management of the radio-pharmaceutical industry can be radically revolutionised with the assistance of IoT technology. The radiopharmaceutical industry relates to the medicinal compounds that are a group of drugs which contain radioactive parts. These drugs are otherwise regarded as being nuclear medicine. Due to their radioactive element they are both time-sensitive and extremely valuable. The use of radio-pharmaceuticals is most common when treating cancer patients undergoing chemotherapy, or to diagnose and monitor blood flow to the brain or the functioning of immunocompromised kidney patients. Businesswire estimates the nuclear medicine industry to be worth USD $4.1 billion as of 2019, and predicted to reach USD $5.2 billion by 2024. Nuclear medicines pertain great value in the health industry and have significant demand globally, resulting in the need for efficient supply chain deliveries and distributions.

The World Health Organisation (WHO) conducted a study into the composition of radio-pharmaceuticals to analyse its viability and unique uses. Upon examination, it was found that radio-pharmaceuticals have an extremely rapid expiry of 12 hours upon final preparations. The study found that the viability of the drugs is decreased by 47% after the time passes, making it essentially ineffective for use. Due to its rapid deterioration, radio-pharmaceuticals are created and prepared in relation to demand and distributed very quickly. Late or ineffective usage of these drugs, can cause many issues such as a delay in recovery or a greater fatality rate due to succumbing to the illness. The cost in creating radio-pharmaceuticals is also tremendous, with the average cost being between USD $800 million - $1,700 million as reported by the Journal of Nuclear Medicine. Therefore, the radio-pharmaceutical and health industry as a whole must maintain efficient delivery of the drugs to patients to assure faster recovery and to retain business profits. 

IoT assisted technology can empower the radio-pharmaceuticals industry by increasing its end-to-end visibility in their supply chain operations. Time sensitivity is a large issue that must be addressed in the radio-pharmaceuticals industry if they are to deliver effective medications and to maintain business growth. IoT assisted technology such as the use of smart asset trackers will enable the pharmaceutical industry to track and monitor their consignments viability during transport. This allows visibility to be enabled in an otherwise blind sector of the transport process, and allow businesses to address issues such as delays.  

Adapt Ideations utilises IoT assisted technology in our smart asset tracker KELVIN to empower businesses by increasing end-to-end visibility. The smart asset tracker offers a solution to alleviating issues of time sensitivity for the radio-pharmaceuticals industry as it can help track and monitor consignments in near real-time. The smart asset tracker’s sensors monitor the location, temperature, shock and exposure to light of the moving asset and relays the data back in near real-time to businesses. Adapt Ideations smart asset tracker can assist in radio-pharmaceutical company’s supply chain operations greatly. Pharmaceutical businesses will be able to monitor and take proactive measures when necessary during transportation ensuring the quality and effectiveness of medications and treatments. Increased supply chain visibility will also reduce the occurrences of late medication delivery, through monitoring of consignments. 

Get in touch with us today to enquire further at enquiries@adaptideations.com.

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With a focus on real-time monitoring through IoT solutions, we aim to showcase the advancements that contribute to the efficiency and compliance of global pharmaceutical supply chains. Evolution of Temperature-Controlled Logistics Temperature control has undergone a remarkable transformation in the last two decades. Stringent global regulations, customer demand for new temperature ranges, emerging markets with extreme temperatures, and the growing value of drugs like biologics have been essential driving forces. These factors have spurred the evolution of temperature-controlled logistics to meet the demands of a rapidly changing world. The landscape of temperature-controlled logistics is evolving, thanks to technological advancements. Trends include the growing availability of prequalified shippers simplifying the validation process, sophisticated supply chain services, a rising interest in reusable packaging, and advances in temperature-monitoring technology. 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