Diving deep into the future of pharma, Chris Moore, President of Veeva Europe, a leader in cloud-based software for the global life sciences industry takes us through his observations on how Big Data will support personalised medicine, how top device manufacturers will stake their claim, how specialised medicines will push biopharma and more.
In 2023, precision targeting for personalised medicines, improving the information flow between reps and healthcare professionals and advancements in clinical trials have driven the adoption of new technologies, but we are only at the beginning. With these advancements come more valuable data and the potential to make better-informed decisions. Using better connected data and processes will help reduce friction to speed up the delivery of treatments to the right patients, at the right time, as well as reducing cost.
As we progress through 2024, we are set to see all these areas continue to mature and evolve. Pharma and healthcare providers who can successfully embrace data, analytics and digital platforms will be the best positioned to succeed in 2024 and beyond.
Development teams will rethink Big Data to support personalised medicine
The life sciences industry has been waiting a long time for Big Data to transform the commercial viability of personalised medicine. With automation now coming of age, R&D teams can finally seize the opportunity — as long as their data is also clean, standardised, interoperable and secure.
In 2024, companies will focus on making Big Data (which could range from raw trial and site-specific data to IT data points, such as cycle times) more usable by resolving common pain points around cleaning, ownership and standards. As a result, the volume and frequency of access to study data will increase exponentially. This will require a transparent data model with stringent user access controls to address data privacy and cyber-security concerns.
Leading companies will use automation to make hundreds of marginal and incremental efficiency gains across the development lifecycle, whether deep querying protocols, detecting patterns during medical imaging analysis or verifying the origin of chemical components. A growing industry impetus will lead to more direct data APIs between sponsors, health institutes and regulatory authorities so that ‘Big (clean) Data’ becomes a reality, creating the right conditions for commercially viable, personalised medicines to reach patients in need.
As digital therapeutics evolve, top device manufacturers will stake their claim in the space
When Pear Therapeutics became the first company to receive payer funding for a mobile app to treat substance use disorder in 2021, it seemed like the industry was gearing up for digital therapeutics to go mainstream.
A lot has changed in two years. The digital health market suffered some losses that have cast a shadow on the budding industry, with some companies filing for bankruptcy and others leaving the payer market to go direct-to-consumer.
Despite these setbacks, digital therapeutics will continue to gain traction in 2024 – especially for larger companies that have the resources to learn lessons from these early trailblazers in the space.
In the coming years, we expect to see top companies testing out varied commercial strategies for digital therapeutics, including going direct to consumer or developing companion apps to previously established therapies. Heavy hitters like Pfizer, AstraZeneca, Boehringer Ingelheim and Roche have already joined the Digital Therapeutics Alliance and more will likely join the FDA’s newly formed Digital Health Advisory Committee.
Specialised medicines will push biopharma’s to respond to healthcare professionals in the moment of need
In-person interactions with healthcare professionals (HCPs) are returning to pre-pandemic levels, but access is more selective. HCPs are prioritising access based upon the value and timeliness of interaction. This is driving the inevitable new question: is the traditional push model supporting HCPs in their time of need?
The complexity and precision of specialised medicines are putting increased pressure on biopharma’s to shift to a service-focused model. HCPs are having to keep track of a bewildering array of treatments and differing levels of access to those based upon treatment and reimbursement guidelines.
Deeper collaboration between commercial and medical teams will be critical to provide HCPs the on-demand education and resources at the time of need – even at the point of care. As the focus changes from promotional to service-centric, field teams will augment in-person touchpoints with inbound capabilities that connect HCPs and reps in real time and prioritise responsiveness and customer value over quantitative sales and frequency measures.
Early adopters of this model are creating more than double the amount of digital interactions with HCPs without reducing in-person visits. Success requires executive sponsorship, investments in field training, compliant technology and realignment of incentives to focus on the strength of relationships.
Most importantly it requires that every HCP interaction builds from the last and adds value to the HCP in a timely manner requiring a fusion of in-person, digital and on-demand interactions. In fact, the use of video meetings in conjunction with in-person meetings increases efficiency and impact. When engaging HCPs through a blend of in-person and virtual channels, video engagement has three times the promotional response compared to in-person meetings alone, offering a significant advantage. We also see that when leveraging an additional inbound channel like compliant chat, HCPs reach out to the industry — initiating 30% of conversations with reps looking for information.
Advanced analytics for clinical and medical data will become a key differentiator of speed to market
Commercial teams have been using advanced analytics for years to measure commercial impact. In R&D, sponsors employ armies of data scientists to analyse data, but it is still in the early days for clinical and medical teams when it comes to using analytics to select suitable trial sites or to drive patient enrolment. In 2024, that will change as competition and external pressures like the Inflation Reduction Act drive an increased need for speed and agility in R&D.
Clinical and medical teams will leverage advanced analytics to help drive site selection, support patient enrolment and identify gaps in standards of care. In doing so, they will have a greater impact on how companies go to market than commercial.
Companies that can define the marketplace for their products, identify impacted patients, associate healthcare providers and move faster than the competition will win. Clean, connected data with a common architecture across customers, patients, KOLs and business operations will be a fundamental necessity to not only prove products efficiently and effectively, but also to lay the foundations for their future consumption.
As we venture into 2024, the healthcare landscape is poised for transformative shifts. The convergence of technology, personalised medicine and data analytics will redefine patient care, making it more tailored, efficient and responsive than ever. By embracing these advancements, healthcare providers and pharmaceutical companies stand at the forefront of innovation, ready to address evolving challenges and improve outcomes. The key to success lies in not just acknowledging these trends but actively participating in the evolution—nurturing a future where healthcare is not just a service, but a dynamic and beneficial experience for every individual.
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