Pharma Companies In The Metaverse: It Is Now Possible

Pharma Companies Entering The Metaverse

Ever since Facebook changed its name to Meta, the buzz around the metaverse started to prevail and everyone started to talk about it. Especially, companies and brands began to scramble and figure out how they would establish themselves in the expansive virtual world. 

However, should pharmaceutical companies be entering into the metaverse? According to industry experts, metaverse innovations have opened new doors of possibilities and developments in the field of science, technology, and healthcare – and pharma is no exception. For instance, there are some initial plays related to the metaverse and the pharmaceutical sector like leveraging Augmented Reality and Virtual Reality to better showcase how a drug works and helps patients come out of any critical illness or what Parkinson’s disease tremors look like. 

The future of the metaverse is still largely unexplored, however, it is presenting lucrative avenues for the healthcare and pharmaceutical industry. In this blog, we will shed some light on how metaverse development services will empower pharma companies and evaluate whether it is a viable solution for the medical sector or not. So, let’s get started.

Is Pharma Ready For The Immersive Metaverse?

Once upon a time, medical communications largely depended on face-to-face communications, live meetings, and printed materials. However, with the inception of the internet, online platforms and communication channels steadily captured the attention of users. As a result, people were pushed to traverse the unfamiliar landscape of web portals, banner ads, blogs, and HTML. 

As time progressed and technologies evolved, the healthcare and pharma sectors witnessed novel channels of interactivity, research, communication, training, and networking. Moreover, with the metaverse coming into the mainstream, every possible business segment, institution, and enterprise across various industries has started to step inside the hyper-real virtual realm and explore intuitive ways to provide quality and value to their customers. 

While the metaverse is still in its infancy, it has already started to furnish major use cases across drug launches, patient communications, biopharma, R&D, manufacturing, marketing, and training just to name a few.

As even related technologies are still coming up to speed, metaverse solutions are steadily gaining traction. At present, pharma marketers are doing their best to explore and understand how to build interactive spaces and immersive experiences for HCPs, consumers, patients, and medical professionals that are intuitive and meaningful.

Also Read: How is FinTech Steadily Adapting To The Metaverse

What To Expect With The Amalgamation of The Metaverse And Pharmaceutical Industry? 

When we take a glance back at the last big inflection point in technology such as the creation of smartphones like the iPhone, enabling users to have unlimited activities and tasks in their pockets, the metaverse jumps ahead of other digital innovations and technologies as the next big transformation in how we connect and interact with the entire world around us. 

For instance, pharma companies can create patient communities and social groups within the metaverse. Instead of talking and interacting with one another online or over Zoom, patients from across the globe can virtually sit out and gather along with others who have similar medical conditions in a room within the metaverse and share what they are going through.

Moreover, as telehealth amid the COVID-19 pandemic is shifting the patient-healthcare provider relationship from in-person to remote, the metaverse in tandem with AR/ VR development solutions is revolutionizing how healthcare is delivered. 

The metaverse presents numerous opportunities to the pharmaceutical companies such as how they can inculcate additional channels for HCP interaction as well as patient care. For instance, FDA has already granted a breakthrough device designation to an immersive VR system, designed to ease fibromyalgia and low back pain and the application of metaverse in pharma is profoundly virtual, replicating real-life scenarios.

Here are some of the key highlights that elucidate the benefits of implementing metaverse solutions in the pharma industry:

• Patient communities

In the metaverse, purposely-built patient communities can allow patients from various parts of the world to connect, engage, and share their experiences. Rules and regulations around such communities can be strategically constructed, keeping safety and data security in mind with smart contract development solutions. 

• Rep-HCP virtual interactions

Virtual or remote calls make up to 20% of rep interactions and this has massively increased in the past few years, mainly due to the pandemic. Metaverse can open new doors for Reps to seamlessly interact with HCP in the virtual realm and foster digital relationships.

• Brand interactions and events

One of the biggest and early use cases of a metaverse in pharma can be in the form of medical training, disease cure programs, educational programs, and specific drug advantages in related illnesses. Through intuitive metaverse platforms, brands and pharma companies can organize virtual industry events for HCPs and even patients and consumers.

• Brand marketing

Pharma companies can reach new audiences and patients through new marketing opportunities such as sponsored content, virtual billboard, virtual gaming experiences, and digital conferences in the metaverse. 

• Telemedicine 2.0

The metaverse has the potential to incessantly transfigure telemedicine by incorporating features such as vitals tracking, haptic touch, and body scanning fused with the power of artificial intelligence and machine learning within the virtual world to make digital HCP consultations more hyper-realistic, personalized, and human-like. It will undoubtedly unlock new opportunities for remote care through telemedicine.

Also Watch: Exploring Metaverse Development Solutions For Businesses With Oodles Technologies

Looking For Metaverse Development Services For Your Business? 

At Oodles Technologies, we empower businesses, brands, and companies of all shapes and sizes to traverse the expansive metaverse and harness the power of the hyper-realistic virtual realm. As an established metaverse development company, we have assisted entrepreneurs and businesses from diverse industries such as healthcare, eCommerce, entertainment, media, pharma, real estate, and gaming to build immersive and intuitive metaverse platforms in accordance with their business needs and industry standards. With extensive experience in related metaverse technologies such as blockchain, AR/VR, AI, edge computing, NFTs, etc, we offer end-to-end solutions and support, enabling clients to transform their ideas into reality. If you are looking for metaverse development services, feel free to drop us a line. Our experts will get back to you within 24 hours.