Summary
The pharma analytics market reached $60B in revenues in 2021 and is expected to grow at a 20% annual rate in the coming years. The data and business intelligence provided by pharma analytics companies around drug sales is of outmost importance for multiple stakeholders in the pharma industry (e.g., manufacturers, distributors, and regulators), who rely on this data for their decision-making. However, this data is becoming increasingly biased and myopic: it only accounts for drug sales from legal pharmacies, overlooking sales from illegal pharmacies. This limitation is becoming more and more problematic since sales from illegal pharmacies (mainly operating online) are growing at a substantive pace. The goal of this PoC is to address this limitation through the development of a web service that will provide data and business analytics on drug sales by Illegal Online Pharmacies (IOPs). This web service will allow potential users to visualize market trends, download data, and develop customized reports on IOPs The goal of this PoC is to develop a web service API that will provide data and business analytics on drug sales by Illegal Online Pharmacies (IOPs) through a web portal. This web service will allow potential users to visualize market trends, download data, and develop customized reports, and will be provided following a pay-per-use commercial structure. While multiple stakeholders in the pharma industry are potentially interested in this data (e.g., manufacturers, distributors, pharma analytics companies, policy-makers, and law enforcement authorities), this data is currently unavailable due to the obscure nature of IOPs’ activities. The web service proposed in this PoC will generate such data through the algorithms designed in the ILLEGALPHARMA ERC-funded project. Accordingly, this PoC outlines the technological and commercial processes that will be implemented to transform the research generated in ILLEGALPHARMA into a business innovation with market potential.
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| Web resources: | https://cordis.europa.eu/project/id/101101053 |
| Start date: | 01-05-2023 |
| End date: | 31-10-2024 |
| Total budget - Public funding: | - 150 000,00 Euro |
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Original description
The pharma analytics market reached $60B in revenues in 2021 and is expected to grow at a 20% annual rate in the coming years. The data and business intelligence provided by pharma analytics companies around drug sales is of outmost importance for multiple stakeholders in the pharma industry (e.g., manufacturers, distributors, and regulators), who rely on this data for their decision-making. However, this data is becoming increasingly biased and myopic: it only accounts for drug sales from legal pharmacies, overlooking sales from illegal pharmacies. This limitation is becoming more and more problematic since sales from illegal pharmacies (mainly operating online) are growing at a substantive pace. The goal of this PoC is to address this limitation through the development of a web service that will provide data and business analytics on drug sales by Illegal Online Pharmacies (IOPs). This web service will allow potential users to visualize market trends, download data, and develop customized reports on IOPs The goal of this PoC is to develop a web service API that will provide data and business analytics on drug sales by Illegal Online Pharmacies (IOPs) through a web portal. This web service will allow potential users to visualize market trends, download data, and develop customized reports, and will be provided following a pay-per-use commercial structure. While multiple stakeholders in the pharma industry are potentially interested in this data (e.g., manufacturers, distributors, pharma analytics companies, policy-makers, and law enforcement authorities), this data is currently unavailable due to the obscure nature of IOPs’ activities. The web service proposed in this PoC will generate such data through the algorithms designed in the ILLEGALPHARMA ERC-funded project. Accordingly, this PoC outlines the technological and commercial processes that will be implemented to transform the research generated in ILLEGALPHARMA into a business innovation with market potential.Status
SIGNEDCall topic
ERC-2022-POC2Update Date
31-07-2023
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