Let’s take a look at each trend. To learn more, visit our Privacy Statement. Digital therapeutics will increasingly complement drugs, After smartphones had been around several years, a handful of influential digital-savvy physicians began to boast that they, . “Sponsors and CROs will continue to be eager to bounce back and accelerate the drug development process after significant delays caused by the pandemic,” Reites said. A customer relationship management (CRM) platform built for healthcare and life sciences with AI capabilities can connect to existing systems while engaging with a broad range of customer stakeholders. Embracing Medical Marijuana. The pharma world is just one sector that is expected to reap the benefits of the AI outburst. To future proof business, pharmaceutical companies must easily adapt and scale with a platform that supports modernized integrations. It turns out, a lot that’s good. Such adverse events “prolong hospital stays by up to 4.6 days and adding a cost burden of more than $30 billion annually to the U.S. healthcare system,” said Sirj Goswami, CEO of InsightRX, a cloud-based clinical decision support platform. Here are ways pharma organizations can improve engagement: Face-to-face interactions with healthcare providers or HCPs are declining. Radiomics will gain ground in drug development and clinical trials, 4. Here are some AI use cases: Does such a system exist? Pharmaceutical Excipient Market Research Report by Function (Binders, Coating Agents, Colorants, Disintegrants, and Emulsifying Agents), by Type (Inorganic and Organic), by Formulation - Global Forecast to 2025 - Cumulative Impact of COVID-19New York, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pharmaceutical Excipient Market Research … Earlier this year, there was a surge in large pharmaceutical companies acquiring biologics and therapy companies. But that’s the 30,000-foot view. Below are five more trends experts think will shape biotech and pharma company dealmaking in the months to come. The issue of drug pricing is always in the news, but it has … 7 In 2017, a major cyberattack affected manufacturing and other operations of a large pharmaceutical company, costing US$1.3 million in losses. Furthermore, a branch of AI known as robotic process automation that has gained traction in other sectors will continue making inroads in healthcare to reduce the need for tedious routine tasks. The growing number of Life Sciences companies turn to advanced analytic techniques in pharmacovigilance to examine large and varied data sets that contain safety information. But looking ahead, they may find more competition from private equity firms. “Time constraints for personalized patient treatments driven by the cold-chain nature of costly drugs with time in and out of refrigeration makes requirements more stringent for the traceability of the chains of identity and custody along the entire supply chain,” Paralkar said. 8 “I don’t think there is enough information at this point to do long term estimates,” said Kasey Fu, director of epidemiology at GlobalData. Here, the forthcoming digitalisation trends are projected. Natural language processing (NLP) has long held potential for the life sciences field, given the industry’s reliance on text-based data in the form of clinical records, scientific papers, pharmaceutical companies’ call center transcriptions and so forth. Here, we asked several experts to predict the trends that will be most relevant in the coming year. Unifying data across provider, patient, and partner information on a common platform gives all stakeholders a single view into valuable operational and customer insights. “It’s a fundamental shift in continuous efforts to ultimately improve care and reduce healthcare costs,” he said. Reduction of opioids by cutting production. Anderson, president of CCT Research, a clinical research network. In the long run, Paralkar expects that drug companies will shift toward making personalized treatments rather than produce assembly-line-driven “make-to-stock” inventories. “Once the agent is approved and marketed, the DTx will be prescribed as companion therapy.”, 7. When you really dig into what’s going on in pharma, five trends are driving transformation this year. With market changes pointing toward a strategic focus on deal-making and external innovation, cross-industry and cross-enterprise collaboration — particularly in R&D — is becoming the new normal operating model. As the industry strives to improve recruitment, data collection and retention, it will seek to enhance flexibility and visit options for patients. “In 2021, we will see an increasing number of drugs developed in conjunction with digital therapeutics (DTx) solutions,” Rajput predicted. Two doctors and thought leaders focused on global healthcare tell the private sector that we need your innovation, your scale, and your money. TIPS Advisory Board. “To effectively leverage value from massive data sets – and also efficiently manage compliance and safety initiatives – life science companies will need advanced AI-based technologies such as natural language NLP to advance their digital transformation efforts, enable a deeper understanding of data, and help boost organizational productivity,” she explained. The various branches of life sciences industry may include pharmaceuticals, biotechnology, environmental sciences, biomedicine, nutraceuticals, neuroscience, cell biology, biophysics, and many others. Having already proven how AI can be leveraged to make data-driven decisions faster and ramp up R&D, drug developers are now discovering a limitless range of novel and beneficial uses AI can have in an incalculable number of new pharma contexts. Paralkar of SAP expects this trend to continue in 2021. As part of the Healthcare and Life Sciences team, Jennifer works to bring customer success to biopharmaceutical, medical device, and diagnostic companies. They will move to “just-in-time, ‘made-to-order’ personalized treatments,” he predicted. Prioritize the patient in customer support strategies by giving service agents the ability to coordinate onboarding, verify insurance, and assist with copay-related inquiries. 3D Printing. Use artificial intelligence (AI) to predict which patients are most likely to stop following medication regimes and suggest intervention methods. One silver lining of the COVID-19 pandemic is that it has accelerated the rate of change for pharma and life sciences fields in general. “As the focus continues on reducing harm from ADEs, we will start to see an increase in precision dosing and monitoring of specialty drugs, especially for those with narrow therapeutic indexes and wide variations in drug response,”. “COVID-19 anywhere is COVID-19 everywhere. Various trademarks held by their respective owners. The use of analytics-driven patient monitoring also supports “alerting clinicians to any clinical decompensation that could signal an issue with the drug or another health problem that needs to be addressed,” Rajput added. Legalization of medical marijuana is stepping towards completely … Copyright © 2021 WTWH Media LLC. traditional pharmaceutical business model. “The life sciences industry is looking at unmet needs and developing drugs to address this,” she added. “This continuous monitoring and clinical oversight are especially helpful for conditions such as heart failure in which a very low percentage of patients are on guideline-directed therapies, and only about 1% receive target doses of medications,” Rajput explained. A greater focus on the patient gives way to valuable real-world data and insight into therapy performance and medication adherence. Priorities for drug developers will continue to shift, Next year, drug developers’ priorities will continue to evolve in meaningful ways, predicted Reed of Linguamatics. The Pharmaceutical industry's long successful strategy of placing big bets on a few molecules, promoting them heavily and turning them into blockbusters worked well for many years, but its R&D productivity has now plummeted and the environment’s changing. communications regarding Salesforce products, services, and events. “In 2021, technology-enabled clinical research with a more global focus will become a standard clinical design approach.”. Bridging the gap between information and operational technology will allow pharma to excel this year. As 2020 comes to a close, life science companies should start looking to 2021 to stay on top of the latest technological trends. Large pharmaceutical companies are used to vying against each other to buy or work with exciting young biotechs. Save my name, email, and website in this browser for the next time I comment. Image courtesy of Drew Beamer on Unsplash. They strive to uncover new patterns, unknown correlations, trends, and patient preferences that help them to ensure patients’ safety more effectively. Better internal and external communication, more collaboration and smarter, data-based decisions that will not only improve customer engagement, but will also increase the understanding of how to best serve these customers. Fremont, CA: The pharmaceutical and packaging industries are spurring and inspiring innovation and advances, additional to being influenced by the related external factors. “Once the agent is approved and marketed, the DTx will be prescribed as companion therapy.”, When patients are prescribed a drug, their doctor will explain “that it comes with a companion biosensor such as an armband wearable to collect physiological data 24/7 and a smartphone app,” Rajput said. Households. And the breakneck speed of vaccine development in 2020 could potentially lead to accelerated timelines for other therapeutics in the future. The pharmaceutical industry has been desperately searching for efficient drug discovery methods. Thank you for visiting Journal of Global Trends in Pharmaceutical sciences (JGTPS) quarterly online journal (Four Issue per year). A full view into supply chain and manufacturing allows for seamless internal and external collaborations that support cross-team and cross-industry partnerships. Leaders will center strategies on outcomes by conveying the value of medications to providers, forging strong partnerships with payers, and establishing direct patient relationships. The pandemic has forced a rethink of how to manage clinical trials and treat patients in hospitals and their homes. It’s what we don’t know that’s scary at this point.”, Fu counsels that healthcare leaders act if a vaccine won’t be available for at least six months. Mandar Paralkar, head of life sciences industry at enterprise software giant SAP, sees a growing number of organizations becoming aware of the need for more stringent traceability of supply chains extending beyond COVID-19 vaccines. AdventHealth, a Salesforce customer, needed to find digital tools to provide the same level of whole-person care and connection as its in-person health system. Advanced analytics and machine learning will streamline remote patient monitoring, allowing the physicians to “optimally titrate their drug dosage,” Rajput said. The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing. Trends in Pharmaceutical Sciences. Life sciences companies are prime targets for cyberattacks due to high revenues, extensive spend on R&D and operations, sensitive intellectual property, trade secrets, and reliance on technology. Developing these solutions quickly is possible if you use a flexible platform that allows for easy app development. “If you’re making a therapeutic for one specific customer, the supply chain becomes a ‘size one’ — you need to order just enough supplies/ingredients, and they have to be delivered at just the right time and place,” he added. Here are some approaches pharmaceutical companies should consider: Services that go “beyond the pill” help bolster revenue growth, especially in the face of drug patent expirations, generics, and biosimilar products entering the market. When it comes to the former, it is difficult to anticipate the rate of transmission months in advance or to foretell the logistics issues at play when distributing two doses of vaccine to hundreds of millions of people in the U.S. Production hiccups and vaccine hesitancy are other factors to consider. The industry will see continued growth in research for drugs and understanding of rare diseases, she said. To increase operational efficiency and deliver business and scientific insights across R&D, manufacturing, and commercial operations, pharmaceutical companies are increasingly using cloud technology. Get to know the Advisory Board of TIPS. Trends in Pharmacological Sciences ISSN 1873-3735 (online) Research Journals. “There will be faster time-to-market for targeted therapies.”. Sponsors’ and CROs’ priorities will also shift in other ways, according to Reites. “These AI-powered analytics will enable drug developers to gain deeper insights from medical images than previously capable, driving accelerated therapy development, greater personalization of treatment and the discovery of new biomarkers that will enhance clinical decision-making and treatment,” said Higgins. All rights reserved. There will be “greater focus on participant and research site inclusiveness,” he said. Uptick in M&A and more precise inventory management, 9. Drug discovery. Also, non-therapeutic solutions that accompany therapies keep pharmaceutical companies competitive: for example, a mobile medical app for early screening or diagnosis or an app used for adherence in clinical trials. For all of the brainpower and data models researchers have used to model the COVID-19, the pandemic continues to surprise experts. In Industry 4.0, “sensors, devices, machines and other equipment are all interconnected,” Paralkar said. But there doesn’t need to be tension between traditional medicines and digital technologies, said Kuldeep Singh Rajput, CEO of Biofourmis, a Boston-based company specializing in digital therapeutics and virtual care. Expect to see growing traction of “nichebusters” rather than the old-fashioned blockbuster model, Reed predicted. Pharmaceutical companies are increasingly outsourcing their R&D activities, including early-stage research programs, to third party organizations -- academic institutions, biotech startups, and private contract research organizations (CROs) -- as a means to stay … The unprecedented nature of the pandemic makes it challenging to anticipate what impact the virus will have next year. Patients can access disease and drug details, treatment education, and medication training easily from any device. Improved commercial strategies and models require access to better data. With all the hype around AI nowadays, … Working parents, including Salesforce executives, managers, and customers, share how they manage homeschooling, lunchtime, and work/life balance under COVID-19. This includes open lines of communication, advice, resources, and support for the duration of a patients’ participation in a clinical trial through their ongoing therapeutic journey. Deliver personalized messaging with automated campaigns based on their medication or disease state that educate patients, offer helpful reminders, and check in on progress. Increased focus on precision dosing and monitoring of specialty drugs, Adverse drug events (ADEs) cause more than 770,000 injuries or deaths in U.S. hospitals each year, according to a study in the, Journal of Informatics in Health and Biomedicine, . Predict outcomes and recommend next best actions, Predict patient adherence and suggest methods for intervention, Source and recruit candidates for clinical trials, Deliver personalized engagements and support programs to help patients navigate their health journey, Provide deeper insights for sales teams to better target physicians. The clinical trial companies need to know about the technology challenges and trends while conducting a trial. Visibility grows across the life sciences value chain, 8. What can you say about a year in which “pandemic” was Merriam-Webster’s word of the year? Trends in Pharmaceutical Sciences (TiPS) is the official peer reviewed journal of the School of Pharmacy- Shiraz University of Medical Sciences, publishing original research in pharmaceutical fields (biotechnology, clinical pharmacy, medicinal chemistry, nanotechnology, pharmaceutics, pharmacognosy, pharmacology, toxicology, traditional pharmacy, and … At present, the market growth is influenced by the key trends, such as opportunities across … Any aspect of science that has something to do with the research and improvement of human, plant and animal life can be defined as a subcategory of the life sciences in… Similar interconnection is coming to the life sciences field at large. Global life sciences sector issues in 2020 . Sirj Goswami, CEO of InsightRX, a cloud-based clinical decision support platform. Even if the life science industry hadn’t been rocked by COVID-19 earlier this year, it still would have had some major trends with which to contend. Get the latest stories from The 360 Blog, every week. Every pharmaceutical company is talking about patient engagement. I can The global revenue of the pharmaceutical market is 1.2 trillion dollars. Trends in Pharmacological Sciences on Twitter. Pressure will mount to unblock clinical trial bottlenecks, 2. While, the “nichebusters” concept has some history, , growing progress in precision medicine will make it easier for pharma companies to ensure they have “the right patient or patient population for [their] targeted therapy.”, 6. The journal aims to make significant contributions to applied research and knowledge across the globe through publication of original, high-quality research. “Studies will embrace decentralized trial approaches as design options earlier in the clinical trial planning process,” Reites said. The future of 5G in healthcare, retail, and manufacturing promises more than just personalized shopping experiences, telehealth, and more streamlined machine production. “As the focus continues on reducing harm from ADEs, we will start to see an increase in precision dosing and monitoring of specialty drugs, especially for those with narrow therapeutic indexes and wide variations in drug response,” Goswami added. The COVID-19 pandemic has underscored the need to optimize clinical trial processes. Get the latest news and articles on Pharma & life sciences Industry provides complete picture of Pharma & life sciences business analytics, analysis to turn into busines result, advice on … Consolidated and standardized data reduces complexities and inefficiencies while increasing the pace of possible innovation. Private equity adds competition. “When these issues are flagged, clinicians are able to intervene to prevent a potential medical crisis.”. Learn what to expect! Precision imaging analytics technology known as radiomics will see increased adoption in 2021 and will be incorporated into drug development strategies and clinical trials management, according to Rose Higgins, CEO of HealthMyne. “Because of the growing interest in personalized medicine — not to mention the high-profit margins on costly drugs — we will probably see even more acquisitions as the pharmaceutical sector continues to diversify and grow its portfolios.”. Build a truly patient-centric strategy across marketing, sales, and support — including medical affairs — to be more efficient and coordinated in your messages and interactions. And there’s an increasing emphasis on pharmaceutical companies to price therapies based on outcomes. Just as it's done for other industries, 3D printing enabled prototyping, customization, … The primary mission of the journal is to become the premier source of high quality research from whole of the world. Organ-on-a-Chip, a cutting-edge technology that can emulate the physiological environment and functionality of human organs on a chip for disease modeling and drug testing, shows great potential for revolutionizing the drug development pipeline. Transform the HCP relationship to combat the decline in face-to-face relationships. But there doesn’t need to be tension between traditional medicines and digital technologies, said Kuldeep Singh Rajput, CEO of Biofourmis, a Boston-based company specializing in digital therapeutics and virtual care. And visibility across the life sciences industry is looking at unmet needs and developing drugs to this. Rather than produce assembly-line-driven “ make-to-stock ” inventories by pharma and life sciences value chain, 8 assembly-line-driven make-to-stock! Large pharmaceutical companies an opportunity to overcome this perception researchers have used model. 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