Pharmaceutical companies’ adaptation to technological innovations: costs for competitiveness (analytical review of scientific information sources)

Abstract

The article analyzes the adaptation of pharmaceutical companies to technological innovations with a focus on associated costs and implications for ensuring competitiveness. In an era of rapid technological progress, the pharmaceutical industry faces extremely complex challenges in integrating new technologies and maintaining competitive positions. The problem lies in the need for strategic adaptation of pharmaceutical companies to technological innovations to preserve relevance and competitiveness in the market. The aim of the article is to examine the costs incurred by pharmaceutical companies in implementing technological innovations and assess how these investments impact their competitive position. The scientific novelty of this article lies in the analysis of costs associated with the adaptation of pharmaceutical companies to technological innovations aimed at supporting their competitiveness. The study identifies the main directions of technological innovations in the pharmaceutical industry and evaluates the costs required for their implementation. Purpose. The aim of the article is to investigate the process of pharmaceutical companies’ adaptation to technological innovations and examine their impact on competitiveness. Within the analysis, various technological innovations are considered, including artificial intelligence, machine learning, big data analytics, and digital pharmacology, but this is not limited to them. The research is based on identifying key cost factors associated with technological adaptation. Additionally, the study explores how these costs influence the competitive landscape of pharmaceutical companies, considering factors such as product development, manufacturing processes, marketing strategies, and customer engagement. Methods. The following methods were used during the writing of the article: analysis, comparison, statistical, descriptive. Results. The results of the conducted research indicate that the integration of technological innovations involves significant initial investments, but companies that effectively undergo this transition gain long-term advantages in terms of increased efficiency, product quality, and market positioning. Conclusions. Conclusions drawn from the analysis emphasize the crucial role of strategic planning and investment in technology for pharmaceutical companies striving for success in an increasingly digitized environment. The findings also underscore the importance of balancing short-term costs and long-term benefits to achieve sustainable competitiveness. Therefore, this study provides insights into the specifics of technological adaptation in the pharmaceutical industry and offers practical recommendations for companies seeking to leverage innovation to maintain their competitive edge.