2017, what are the challenges for pharma industries?
The secret is out: The healthcare market is reaching maturity. The sector’s major players have no choice but to step up their efforts to find growth drivers that will offset the slowdown anticipated by 2020. DEXSTR has reviewed the trends on the horizon for 2017, when the watchwords will be optimization and flexibility!
LIFTING THE BRAKES ON DRUG DEVELOPMENT
Developing medicines has always required several successive steps, each involving specific functions that are sometimes located at different sites. While some of these steps must respect regulatory timeframes, there are obstacles that slow down the process. This is especially true when it comes to knowledge sharing. The confidential nature of the data that is generated during the phases upstream of development, as well as the volume of data, which is often quite substantial, represent a barrier to knowledge transmission. The compartmentalized nature of research organizations interferes with the development of final compounds. This is one of the first issues that many players in the industry are quick to point out. Some of the best ways to ensure this will happen include, for example, implementing internal processes (procedures for sharing information, meetings, etc.) and IT infrastructure.
Improving operational performance by optimizing flows between departments and by making it easier to share information internally is most definitely a priority!
MAKING COLLABORATION A PRIORITY
The healthcare industry is subject to a great deal of financial, legal and operational pressure, which can be addressed by creating platforms. Here is a sampling of different types of platforms that may be adopted:
- Platforms for exchanging ideas and information. Open innovation is in full swing: a platform for putting new ideas on the table, encouraging discussion, fostering agility and taking full advantage of all sources of input can shine the spotlight on talented contributors and stimulate innovation within a business.
- Use of technology platforms combined with the pooling instruments and resources is a winning solution. It helps limit initial investments and reduce the impact of instrument obsolescence. By using technology platforms, you can remain at the cutting edge of technology and rely on the excellence of experts within your field.
- Skill-sharing platforms offer an alternative to technology platforms. There are times when all you need is to be able to share or swap know-how with teams specialized in a given area or technique. In many sectors, collaboration is the key to development, and it is gradually gaining ground in the healthcare industry. With knowledge exchange comes the issue of sharing data that may be voluminous or confidential. While in-house solutions generally exist (shared storage space), sharing data with external or geographically distant teams is not always easy. Several IT solutions designed for knowledge sharing, such as Sharepoint and Inquiro, our solution, are dedicated to sharing large volumes of scientific knowledge without storage limits.
PATIENT-CENTRIC CLINICAL MODELS
The era of blockbuster drug development is over. Today the trend is patient-centered models: refocusing developments on the patient, finding ways to promote patient engagement, encouraging patients to share the results they obtain, the problems they encounter, their expectations, etc. A report from the consulting firm PwC states that 2.5 million terabytes of data are generated each day, and this volume is increasing with the emergence of connected objects. Such data has enormous potential to radically transform the way the pharmaceutical industry works. So how exactly does this impact you?
Tripartite collaboration between physicians, patients and industry players makes it possible to collect precious information that will ultimately mean treatments are no longer based on simply interpreting symptoms. Rather, patients will receive personalized therapies adapted to their own expectations and needs.
This approach enables a shift towards an alternative drug development model, and it revives possibilities that were considered to have been exhausted. Revisiting existing treatments by basing developments on the merging of biometric, clinical and analytical data can only improve on what exists today.
DRUGS ARE BECOMING HIGH TECH
With pills that alert patients when it is time to take them, or inhalers that record the precise time of use, it is clear that the drug market is modernizing.
Such innovations are especially important for certain chronic diseases and for patient groups considered to be at risk, such as children and the elderly, for whom it is sometimes difficult to regulate the intake of medicines.
Pharmaceuticals are becoming increasingly high tech with a view to improving patient comfort and facilitating patient monitoring by physicians. The convergence of different disciplines, knowledge synergies, and the alliance of big pharma and promising start-ups will drive the healthcare market forward.
CAPITALIZING ON KNOWLEDGE
Finding a way to harness the full potential of the technology acquired by a firm, and the data in its possession, to move faster and benefit from the advantages it brings. Putting in place the necessary tools and processes is a way to ensure more rapid (and sustainable) profitability of investments.
Scientific Knowledge Management is the perfect example, as it benefits every member of the laboratory ecosystem. In this presentation, discover the advantages of Knowledge Management for the various aspects of the healthcare industry.
It is probably the solution that can be most rapidly integrated and, therefore, most quickly creates value. Decompartmentalizing different departments, or offering a search engine that can quickly locate your data are examples of benefits that allow laboratories to save precious time.
If you want to start your Knowledge Management experience with DEXSTR now,.
Deloitte, Life science industry outlook 2017
La tribune, Industrie pharmaceutique : 2017 sera-t-elle une année record en Fusion et Acquisition ?
Pharmavoice : The challenges facing pharmaceutical leaders
Investingnews : Top pharmaceutical trends for 2017
Investingnews : Pharmaceutical Outlook 2017: Seeking a Competitive Edge