“We don’t want to miss the train of digital health” is a phrase I often hear from pharmaceutical companies. However, there are no trains to catch anymore. Disruptive healthcare trends are the futuristic spaceships many pharma companies don’t even see flying above them. If pharma doesn’t prepare for the coming waves of change, it won’t have an industry at all
It might sound like a bold statement, but trends suggest a future in which medical innovation will be born in a garage lab or a small startup company. In the last hundred years, advances in medicine belonged mainly to the R&D departments of pharma companies. Technological developments might change that forever.
What if a startup can perform clinical trials in silico? Instead of spending billions of dollars and waiting for years, they might be able to test thousands of drug targets in seconds on billions of patient models without the need for testing drugs on real people. What if they can recruit the right patients for these trials through digital methods more easily and much more cheaply?
Here are the 6 trends that will shape the future of pharma.
Empowered patients might launch their own biotech companies to develop new drugs or acquire companies that failed to do so. They know what pharma and other medical companies are working on and how they communicate with fellow patients and their caregivers as they follow the companies on social media. Empowered patients have high expectations and if those are not met, patients find their own solutions.