‘E-learning’ is the new age educational movement! Since 1999, when it was first introduced, e-learning has pervaded many industries. While the Finance, Marketing, Telecommunications and some of the Healthcare sectors have easily adopted the concept, the pharmaceutical subdivision has been feigning ignorance. Here’s a sneak into some mind-boggling statistics which the pharmaceutical giants would not want to overlook. The global eLearning market is expected to reach $107 billion by 2015. The Learning Management System (LMS) market was worth $2.55 billion in 2013 with an estimated compound annual growth rate of approximately 25.2% i.e. $ 4 billion in 2015! The growth rate of e-learning in India is estimated at 55 %!
‘Every coin has two sides’. This old proverb holds great value here, where there is the good and the bad about the pharmaceutical industry and the reasons why it should wake up to the calling.
A Blessing in Disguise
Pharmaceutical and healthcare divisions offer hope to millions worldwide. The sector is considered a long-term growth market as it is estimated that the world market for medical products is expected to reach nearly $ 1.17 trillion by 2017. This has guaranteed high regulation and strict norms for the industry. A large number of different products, of pharmaceutical and biopharmaceutical nature are being launched every year. Moreover, the sector has adequately displayed the ability to respond to medical crisis with advanced technologies for research and fast-track permissions. The recent Ebola virus crisis is a good example of the exaltation of the industry’s challenges and capabilities. All this demands continuous updation of guidelines and principles of the pharmaceutical division and trained manpower. Furthermore, the industry is known to spend the most on employee trainings. The sector is definitely trying to respond well to the various demands and requirements of the human population, keeping itself on toes!
Need of the Hour
What the industry really needs, are qualified trainers. The rapid launch of new drug products and the changing market scenario demands constant training and knowledge-sharing sessions with all employees, ranging from the R&D scientist to the sales and representatives, and the customers. It has been unable to meet these demands appropriately or even to the full extent, in some cases, in spite of spending more of its profits on such trainings. This has generated the need for a cost-effective and efficient solution.
Bite-size e-learning modules with engaging content combined with a compliant LMS may be the answer to the cross-roads at which the industry has found itself. Emmersive Tech has partnered with domain experts, with more than 20 years of experience, Vita Scientia Globus Pvt. Ltd, to provide e-learning and LMS solutions to the industry.