Published By: By PHARMA INTELLIGENCE AND EBD GROUP
As the digital health sector continues to evolve and grow, so too have the levels of complexity in understanding and applying technologies that maximize the potential to transform every aspect of the pharmaceutical value chain. These new digital therapeutics, AI and machine learning tools, and other technological advances create valuable opportunities to accelerate drug discovery and development, new platforms for virtual clinical trials, novel models for commercialization, and effective post-market surveillance.
The continued advancement of the digital health sector requires a better understanding of the investments and partnerships needed to ultimately drive innovation and progress. A selection of articles has been curated into a free downloadable pack, Digital Health: Advancing innovation through technology and strategic partnerships, to provide an overview of the types of products and partnerships necessary to truly transform the industry.
The articles highlight the opportunities and challenges stakeholders need to embrace in order to leverage faster innovation cycles, creating the biggest impact for both patients and the bottom line. Below is a sneak peak of the insights found inside the article pack.
Digital is affecting all aspects of the pharmaceutical industry—from early discovery through commercialization, product modality, and uptake. But not all parts are being impacted to the same degree, as determined by changes in costs, productivity, or end products. Internal data systems and business processes are changing fast because they do not require regulatory oversight or depend on payer attitudes in the way new digital products do. Discovery teams are starting to use multiple new artificial intelligence (AI)-based tools, but the full results are not in yet. Clinical development—relatively inefficient and basically unchanged over decades—is where the most immediate efficiency gains from digital are being made.
While there are signs of the benefits of digital—in terms of R&D efficiency and speed, as well as in data transparency and accessibility, there is still a steep learning curve and “going digital” is difficult. It is changing how pharmaceutical, biotech and medtech firms operate. It means introducing new systems, skillsets, and approaches to a sector whose processes have remained largely unchanged for decades. It is forcing new partnering strategies that combine two very different cultures: that of the fast-moving, consumer-focused, try-it-and-see technology world and the slow-moving, highly regulated, evidence-based world of drug development.
As with most areas of innovation, success depends on partnerships. Pharmaceutical firms do not have the expertise in-house to build the robust, inter-operable, and user-friendly digital pipework or digital tools and products. Nor do they have all of the data. All this—tools, data, expertise—is most efficiently accessed via partnerships, not least as technology changes and evolves so quickly. There is an increasingly well-funded pool of digital health partners to collaborate with as well as an engaged regulatory body and patient population. With an increase of digital partnerships, between pharma, biotech, medtech, and technology firms, there is no better time to realize the potential to solve problems across the product development process and ultimately improve patient care.
Article One: ‘System Thinking’ For Innovation In Digital Transformation
Digital transformation: it is the buzz phrase of the decade, and rightly so. We are living amidst a technology shift, a complete revolution of technology that in the next 10 to 15 years will change everything, in business as well as in our everyday lives. Learn how the biopharma industry can be more proactive in using digital technologies to enhance clinical development.
Article Two: Winners Are Beginning To Emerge In Digital Health: But Without Planning Medtechs Risk Missing The Boat
While the device industry is perceived as a leader in integrating digital technology, developers still need to know the right questions to ask in order to stay ahead of the pack. With overwhelming data available, companies need to identify and understand how to gain insight from the data collected. In addition, to provide tangible value to patients, the data needs to be usable across all stakeholders in the healthcare ecosystem. Industry experts provide their perspectives on areas of opportunity and how to navigate obstacles.
Article Three: Medtech Innovators Must Find The Right Problems To Solve
In the world of medtech innovation, investment and market access, commentators are seeing a maturing attitude to risk, more readiness to address workflows and greater awareness of being on the ball in a regulatory sense. Executives share their thoughts on the key issues that need to be addressed.
Article Four: Connected Health Summit: VCs Discuss Digital Health Investment
This field is quickly growing but how do you filter through the noise to identify the real gamechangers? Experts highlight the opportunities and challenges in digital health investment and offer “do’s and don’ts” for talking to potential investors.
Article Five: PharmAI – Industry Is Smartening Up To Potential Of Artificial Intelligence
Traditional biopharmas are accelerating the adoption of AI-ML technologies as evidenced by the increased number of alliance deals in the past two years. Industry is understanding the ways AI-ML can improve R&D productivity but still need to manage the hype and realize that these technologies still have shortcomings.
To gain a deeper understanding from investors, biopharma leaders, digital health and medtech executives on how to navigate this exciting field and to learn more about the topics featured above, download Digital Health: Advancing innovation through technology and strategic partnerships.