By adopting ARXUM Solutions, you can streamline compliance with . Digital innovation has been accelerated by 10 years by what has happened over the course of the last 18 months., Manoj Raghunandan, president, global self-care and consumer experience, Johnson & Johnson, The pandemic also put biopharma in the spotlight to curb the spread of the virus. Biopharma digital transformation: Gain an edge with leapfrog digital innovation has been saved, Biopharma digital transformation: Gain an edge with leapfrog digital innovation has been removed, An Article Titled Biopharma digital transformation: Gain an edge with leapfrog digital innovation already exists in Saved items. As organizations attempt to accelerate their digital innovation journey through leapfrog digital innovation, they should consider the following: Digital innovation involves the application of innovative digital technologies that address business needs and create value for patients, the enterprise, and its partners. Those investments are expected to pay off big for pharma too. Mobile communications, the cloud, advanced analytics, and the Internet of Things are among the innovations that are starting to transform the healthcare industry in the ways they have already transformed the media, retail, and banking industries. Some are already linking and mining their data sets to improve their pipelines, products, and strategies. Advanced data analytics that mine electronic medical records, including diagnostic results, medication history, and genomic, proteomic, and gene-expression data will help identify optimal therapies and predict how individual patients will respond to treatment. Digital transformation is defined as the process of adopting digital technologies to transform how the business runs. In 2021, GlaxoSmithKline successfully piloted the creation of a digital twin to fine-tune its manufacturing process for vaccine adjuvants.11, Given the authenticity and integrity of data stored in blockchain networks, the technology has the potential to support secure data-sharing, connectivity, and auditability for processes across the biopharma value chain. For example, sites and sponsors can be connected in order to support the data management and analytics required for adaptive trial designs. They feel more in control of their health with devices such as fitness trackers and smartwatches. Close to 60% of survey respondents say dedicated funding is needed to accelerate their organizations digital innovation efforts. The pharmaceutical industry was forced to . ARC believes that digital technology will drive value for pharmaceutical and biotech manufacturing, which - ultimately - should drive widespread adoption. Break down north stars into a series of transformational operational shifts that business and IT will need to address. Organizations, which are already juggling several priorities, now face a critical choiceeither decelerate the current pandemic pace of innovation or raise the bar even higher by accelerating the adoption of digital technologies (see figure 2). For those of us that develop technologies for the pharmaceutical industry, these are exciting times. Organizations face an important choice: either decelerate the pace of digital innovation or pursue what we call leapfrog digital innovation (see section, "Leapfrog digital innovation opportunities across value streams"). Novartis, for instance, used AI to analyze data on trial operations housed in data lakes to predict where disruptions (such as staff shortages, enrollment delays) were likely to occur, and intervene early to reduce their impact on trial timelines.6 Deloittes 2020 Measuring the return from pharmaceutical innovation study found investments in AI and digitalizing trial operations enabled most of the top 20 companies by R&D spend to keep pivotal trials moving without affecting anticipated launch timings.7. Without clear strategic direction and strong senior sponsorship, digital initiatives often struggle to secure the funding and human resources required to reach a viable scale, and they cannot overcome barriers related to inflexible legacy IT systems. The point is that pharmaceutical companies are collecting hundreds of terabytes of data across all phases of R&D each year. Covid-19s impact on the digital transformation of the pharmaceutical industry, Figure 3. This solution gathers near-real-time data from manufacturing equipment to produce an overview of the entire production system, including the condition of each machine. A value stream is a collection of processes that helps achieve goals; for example, the molecule to market value stream focused on creating and launching new drugs or the procure to pay value stream focused on purchasing materials and services. Supply chain leaders also highlighted lowering customer cycle time (67%), reducing lead times (57%), and improving delivery time accuracy (52%) as the top value levers realizable through digital technology investments. Everything from R&D to how sales reps connect with physicians is being reinvented. Unless the Food and Drug Administration grants some sort of emergency use authorization, it takes 10 or more years for a new therapeutic to go from discovery to the marketplace. No cooling off for pharma digital transformation in 2021 COVID-19 has already proved to be a digital accelerant for the pharmaceutical industry, sparking new ideas into life and lighting a. The Post-Pandemic Productivity Puzzle: How Can The UKs Economy Be Revived? Win the digital race in pharma Enhancing Patient Care Through Digital Transformation "Health care is a team sport." According to Visiongain (download required), the market for big data analytics in health care could reach more than $101 billion by 2031. Large-scale digital innovation projects that became commonplace during the pandemic altered mindsets, freed funding, and created an appetite for digital transformation to continue. However, some estimate that the sector far surpassed those figures in 2021 with the 15 largest pharmaceutical companies alone investing more than $133 billion. Verma recently sat down with us to discuss this transformation and outline how the move to digital will inject new life into pharmaceutical R&D. This is a transformative time for all businesses, but the pharma sector is really feeling the pressure to act quickly. Pharma executives are noticing the impact of digital technologies and realizing that it is crucial for their businesses to implement a strategy around it. Others:Our survey shows that biopharma is exploring other digital technologies, such as digital twins, blockchain, and quantum computing. Fortunately, increasing operational efficiency and agility is already a leading digital transformation goal for 44% of pharma companies, according to AspenTech's . Some companies are already piloting blockchain networks in parallel with serialization to track products and prevent counterfeiting.12, While computational approaches, including AI, are being steadily adopted in drug discovery, todays binary computers can only efficiently simulate simple molecular interactions.13 Quantum computers can process data faster to simulate complex interactions between biological molecules, expanding our ability to understand a range of disease mechanisms. According to Stanford Universitys 2021 Artificial Intelligence Index, the money committed to companies and projects focused on AI-powered drug discovery reached $13.8 billion in 2020. Pharmaceutical companies are investing more in patient engagement than ever before. ISPE's SIG has developed an operating model for moving from one industry to another. Modernas Drug Design Studio, running on Amazon Web Services cloud computing and storage infrastructure, enables virtual design of mRNA sequences against protein targets.4 Moderna scientists can also run queries and discover insights out of data collated from dozens of ongoing experiments stored in the cloud to refine their mRNA sequence designs. Information and insights into patients' histories and clinical pathways are no longer the preserve of the traditional healthcare establishment. However, impulsive investments in digital solutions can also lead to undesired outcomes, project failures, and, eventually, financial losses. It is true; pure AI is still on the horizon. Beyond its functional uses, data can also be a profit center for pharmaceutical companies, especially as third-party patient data and concepts like open-source clinical trials increase in popularity. To ensure a successful digital transformation, pharma facilities should follow these key steps: Assess the current state: Identify areas requiring attention and improvement by examining existing processes, technologies, and data management practices. In the R&D lab of the future, an interconnected ecosystem of data, platforms, instruments, and advanced analytical tools supports scientists across teams and geographies to rapidly discover breakthrough therapies. This is especially important when it comes to pharmaceutical R&D. Watch how the pharmaceutical company Bayer Karriere embraces digital solutions for R&D: the figure below shows the future trends of the most disruptive technologies in the pharmaceutical sector. Digital technology has significant implications in the fight against counterfeit medicine. But to decide where to concentrate their efforts, they do need to develop a point of view on each area's potential to transform their commercial and innovation models. Pfizer used the IoT to help ensure its mRNA COVID-19 vaccineswhich are to be maintained at 94 degrees Fahrenheitreached vaccine distribution centers and hospitals without losing their potency.10 The company used temperature-controlled thermal shippers filled with dry ice and fitted with GPS-enabled thermal sensors to store and transport the vaccine. This could increase patient conversion and long-term adherence, support virtualized sales forces, and maximize care outcomes. However, less than 45% expect their organization to invest in VR/AR and digital twins over the next five years. There is already a plethora of wireless sensors on the market to measure a patient's biophysical signals. Without the right tools to help manage and process it, the best data in the world can quickly become useless. This article aims to remedy that. "Two-thirds of people believe they could be making more decisions about personal health and wellness on their own," a survey conducted by Ipsos in collaboration with the National Council on Patient Information and Education and Pfizer, 2015, multivu.com. In March 2021, eight biopharma executives joined Pharmaceutical Executive to discuss digital transformation in the industry. Talent and partnerships are also critical issuesmany companies realize they need to form partnerships to acquire digital capabilities and specialist skills but are often unclear about what kinds of partnerships to set up and how to extract value from them. Greatly reducing interventions in clinics or trial sites during the trial of a drug will reduce the burden on patients and make trial conditions more akin to a patient's life when he or she is prescribed the drug outside a trial setting. Most pharma labs have not yet achieved digital transformation, but labs can aim for one of the three future horizons of technological evolution (Exhibit 1). Anytime-anywhere virtual care will become increasingly commonplace. Immersive Technologies And AR's Potential In Experiential Learning, $4.5 billion on digital transformation by 2030. This is a BETA experience. The Pharma Digital Transformation Conference Overcome Tech, Customer, Data, People & Process Hurdles To Drive New Digital Transformation, Innovations & Automation Across The Pharma Business. The Information Technology & Innovation Foundation estimates that AI will save pharmaceutical companies almost $54 billion in R&D costs each year. Outline how individual capabilities combine to support a transformational operational shift, such as interconnected information flows, processes, or business applications. North star aspiration: Patient-centered and seamless clinical trials. Even before the COVID-19 crisis, the sector was experiencing immense change. 20 February 2023 Share How Digital Transformation Is Reshaping Pharma The growing importance of digital innovation has significantly transformed how pharma operates. The current world is being driven by big data. Seventy-seven percent of respondents say their organization views digital innovation as a competitive differentiator. The Road to Digital Transformation: Roles and Requirements for Another survey suggested that digital technology is the path to better understanding customers and strengthening customer relationships. Digital marketing for the Pharma and Healthcare sector We've got marketing tools and training to support you in optimizing your pharma/healthcare marketing strategy There are many challenges to face when it comes to marketing for the pharma sector. It's a race to market for the most dynamic and . And this has pharma opening its coffers in a major way. We have outlined the four areas in which we believe digital will drive the most value for pharma companies. This necessitates an operating model built on the chosen innovation archetype or archetypes. Pharma companies will need to decide soon how to position themselves to compete or collaborate with these new players, or build complementary capabilities. Cloud:Close to half of the survey respondents said they use cloud computing to facilitate day-to-day work. Move away from legacy budgeting models to iterative project-based financing to ensure adequate funding for digital innovation. Digital innovation projects planned for years out suddenly received budgets and support to be implemented immediately. However, suppose it were centralized, standardized and managed properly, that data could help save pharmaceutical companies billions of dollars and significantly improve the time it takes to bring life-saving new drugs to market. And this is important because pharmaceutical companies generate a ton of data. The ability to personalize interactions with stakeholders is a key value driver from digital technology in any industry. This untangling of data can also enable AI-powered tools to run more efficiently and effectively. Digitalization future-proofs pharma companies Robust digital transformation takes intentionality and effortand a commitment to break free from outdated systems and processes. Such a north star could accelerate value-stream processes from study design to closeout, making it easier to attract and retain trial participants and reduce development costs and cycle time. But not the distant horizon. North star aspiration: Predictive and autonomous supply chain management. "Two-thirds of people believe they could be making more decisions about personal health and wellness on their own," a survey conducted by Ipsos in collaboration with the National Council on Patient Information and Education and Pfizer, 2015, multivu.com. On the final day of Reuters Pharma Barcelona back in March, web editor Nicole Raleigh sat down with Graphite Digital's CEO, Rob . In response, pharma companies will have to build the capabilities to anticipate or react rapidly to these new sources of evidence, and remain the main source of authority on the performance of their products. A new survey highlights the importance of customer reference data to digital transformation and analyses ways pharma companies can improve the quality of their datasets. Adaptive and flexible biopharma supply chain networks can enable real-time visibility into material and product flow, allowing for the prediction of issues and disruptions and autonomous mitigatation of risk. There is a need to change the old ways of thinking and put in place new budgeting processes to help enable leapfrog digital innovation. With more than 20 years of experience, he has led large global technology and business transformation programs for some of our largest and most notable clients. identify the key technologies being used in the sector. Opinions expressed are those of the author. Medical affairs and pharma digital strategy | McKinsey Impact of COVID-19 on digital transformation of the pharma industry. Pharma Digital Transformation: Barriers and Impact - Viseven Read our latest thinking on pharmaceutical digital strategy, Novartis on digitizing medicine in an aging world, A digital prescription for pharma companies, Transforming Medical Affairs: Tapping the alchemy of storytellers and digital start-ups. While there is no one-size-fits-all answer, we have captured some insights from our experience in helping biopharma organizations with digital innovation, which we believe could help organizations win with leapfrog digital innovation. The result of which is a tangled, decentralized web of unstructured data. We have curated this article: to help business leaders in the pharma sector better prepare for their current and future digital transformation initiatives. Traditionally, biopharma companies were slow to incorporate innovative digital technologies such as artificial intelligence (AI), cloud, and the Internet of Things (IoT) in their operations. The US Department of Defense is testing robots to engage and screen soldiers for posttraumatic stress disorder,2 2. Survey results suggest that certain digital technologies are widely adopted and incorporated into biopharma operations. Jim Swanson, chief information officer, Johnson & Johnson. Digital Transformation Frameworks from Top Consulting Firms, Top 7 Digital Transformation Best Practices for the Organizations, Digital Transformation Case Studies and Success Stories, sortable/filterable list of digital transformation consulting companies, Vendor Comparison for Outsourced Digital Workplace Services in 23, Outsourced Digital Workplace Services in 2023, 5 Benefits of No Code Digital Transformation in 2023. Only 10 percent, however, base their strategic decisions on a quantified, granular understanding of how digital affects their competitive environment and business model, compared with 22 percent across all industries and 37 percent for digital leaders. REQUIRED FIELDS ARE MARKED. By implementing CognitiveSpark for Marketing, the company was able to make decisions to reallocate spending to high-performing channels and use only the most effective placements and capping frequencies (i.e., decide how many times a patient sees the same content to elicit action). Survey respondents included vice presidents (VPs), directors, and C-level executives from functions across the biopharma value chain. In addition to excessive costs, pharmaceutical R&D is also an extremely time-consuming proposition. To thrive in a digital world, pharma companies will need to deploy next-generation technologies to streamline their business processes. Designing the digital transformation at scale. Biopharma companies are competing not only with innovative technology brands but incumbents in other industrieswhich are also undertaking digitalizationto attract and retain such talent. The cloud has provided scalability and agility for organizations to enable employees to work collaboratively and flexibly from home, securely store and share data, build data lakes, and even run AI and machine learning (ML) algorithms.Companies have also been using cloud to cut costs, improve time to discovery and insight (see sidebar, Case study 1), and collate data for greater visibility into manufacturing and supply chain operations. Digital transformation in Pharma is reshaping the industry - Mobiquity Digital marketing for the pharma sector - Smart Insights The companys automated manufacturing facilities then convert these sequences into physical mRNA for further experimentation and use in clinical trials. COVID-19 accelerated digital transformation of the pharma industry There are online communities for sharing and discussing patients' experiences, apps and sensors to monitor the impact of therapy on a patient's daily life, and advanced data aggregation and analysis to link disparate, complex data sets and generate new insights into drug safety and efficacy. Todd has a passion for collaborating with clients to understand where and how to start adopting new technologies that help result in real value and improve the lives of patients worldwide. Combining these with other data about patients as they go about their daily livesnutritional information collected by a smart refrigerator, for instance, or exercise information from smart gym weightswill allow real-time alerts to be issued to caregivers and physicians when there is a need for intervention. In the past, the company had relied on external vendors to provide attribution insight (i.e., determine which channels and messages had the greatest impact on consumer decision). Pharmaceutical Digital Transformation - LinkedIn The authors would also like to thank Tom Yang, Neil Lesser, Jonathan Fox, Clifford Zhang, Amy Cheung, Lakshman Pernenkil, Andy Bolt, Lynn Sherry, Richa Malhotra, Laura DeSimio, Zion Bereket, and the many others who contributed to the success of this project. Organizations should move beyond random and duplicative digital technology investments across the enterprise to pursue agenda-driven leapfrog digital innovation. In a digital age, patients are much less dependent on their doctors for advice, increasingly able and willing to take greater control of their own health. For example, a care plan for a Parkinson's patient might include a medication regimen with "chip on a pill" technology to monitor drug taking along with a smartwatch that monitors the patient's condition, sends him or her reminders to adhere to the prescribed treatment, and sends the neurologist compliance and health-status reports. Blockchain technology has many implications in the pharma sector and a positive future: Computer vision has the following implications in the pharmaceutical sector: The figure below shows how IoT can be used in different components across the pharmaceutical value chain. Digital transformation in pharma means the positive impact the technology is bringing in the field of drugs and care delivery. Pharma-Tech: Revolutionizing Access to Super-Specialty Medications and This approach often provided inaccurate insights due to the complexity of the pharma customer journey. To stay logged in, change your functional cookie settings. Biopharma investments in AI have risen, and the breadth of AI application has increased.5 Companies have used AI to optimize site selection for COVID-19 vaccines and manage the impact of disruptions to their clinical development operations. The Pharma Digital Transformation Conference The key implications of AI are in the following areas: The following table presents some case studies on digital transformation and its impact on companies operations: To accelerate your digital transformation process in your business, check out: You can also check oursortable/filterable list of digital transformation consulting companiesto find the fit that best suits your business needs. AI: Our research on Scaling AI adoption across the life science value chainfound that COVID-19 put a spotlight on AI. Digital Manufacturing Is (Finally) Coming to Pharma Go straight to smart. ISPE QC/Analytical Community of Practice Established This could include creating new or optimizing existing business processes, customer interactions, management practices, etc., through the use of cutting-edge technology. Social login not available on Microsoft Edge browser at this time. How Can Digital Transformation Reshape the Pharma Industry?|Keensights Pharmaceutical sales reps, medical-science liaisons, and patient-service teams can inform and influence patients, physicians, and caregivers in person or via mobile phones, the Internet, apps, or social media. and list some real-world case studies of digital transformation in the pharmaceutical sector, More transparency across the supply chain. Digital transformation in the pharmaceutical sector means implementing various digital technologies to improve the production and provision of healthcare products and services.
