Editor’s Note: One of the silver linings of the COVID-19 pandemic is that it accelerated the digital transformation of the United States healthcare ecosystem. Essentially overnight, the healthcare system flipped from a model that relied nearly exclusively on in-person care delivery to a blended care model mixing in-person and virtual. Key healthcare stakeholders (HCPs, patients, caregivers), accustomed to seamless digital experiences in other industries, were eager to adopt more widely accessible digital health technologies during the pandemic and continue to demand new ways of managing their health. Operating with the insight that patient behavior has evolved to demand seamless “ecommerce like” prescription access, pharma brands would be wise to cultivate patient services programs that respond to these demands to reduce friction in the medication access journey with new technologies. In today's highly competitive environment, delivering a modern patient access program can be a key differentiator for life sciences brands seeking brand growth. Read our white paper to learn how to modernize your patient access program in 2023.
From integrating E-care services to monitoring sleep data, here are 13 answers to the question, “What are some interesting, leading Pharma HealthTech trends?”
Integrating E-care Services
Using AI to Create New Drugs
Decentralizing Patient Records
Speeding Up Drug Development With Big Data
Improving Overall Patient Outcomes
Applying AI to Deal With Public Health Threats
Mitigating Data Breaches and Fraud
Emphasizing Clinical Trial Diversity
Investing in Wearable Health Technologies
Growing Digital Therapeutics
Monitoring Your Sleep
As a doctor, I believe that one of the leading trends is the integration of e-care services in healthcare. Our clinic has been offering telemedicine and online doctor consultations for quite some time, and we’ve seen firsthand how this approach can benefit patients.
Pharma HealthTech companies are focusing on providing better patient care, as well as better access to treatments and services through technology, offering them convenience and flexibility. Telemedicine has been a game-changer, especially during the pandemic, as it has enabled patients to receive medical consultations and treatments from the comfort of their homes. It has not only increased accessibility to healthcare but has also reduced the burden on hospitals, allowing us to focus on more critical cases.
Moreover, the use of advanced technologies such as AI and ML are also revolutionizing the pharma industry by analyzing patient data for more personalized treatment plans and improved outcomes.
Dr. Hardik Kharwa, Physician and Founder, PHE Healthcare
Personalized health is a concept centered on precision medicine and leveraging the latest technologies to tailor treatments to the individual patient. It focuses on creating an optimal treatment plan through data analysis, predictive analytics, and machine learning.
Instead of relying solely on traditional methods, such as trial-and-error for diagnosis and treatment, personalized health uses technology to customize treatments and therapies for the individual patient.
Dr. Amy Lee, Medical Advisor, Nucific
One of the top Pharma Healthtech trends is the use of artificial intelligence (AI) to help improve patient outcomes. AI can help doctors make faster, more accurate diagnoses and find the best treatment plans for their patients.
It can also help doctors keep track of their patient’s progress and make sure they are adhering to their treatment plans. AI is also being used to create new drugs and treatments. By studying how the human body reacts to certain drugs, researchers can create new medications that are more effective and have fewer side effects.
Matthew Ramirez, CEO, Rephrasely
Pharmaceutical and digital health have merged to provide physicians with real-time data updates on their patients. This is now possible through the use of health apps where patients can continuously update their symptoms and drug schedules.
In doing so, physicians have been able to improve patients’ compliance with prescription directives and improve their health status. Today, even handheld devices like smartwatches and pedometers can sync with these apps to provide a more comprehensive portrait of patients’ habits outside of the office.
For so long, we have depended solely on the patient’s reports to provide diagnoses. Now, health tech is helping healthcare officials become more efficient in the quality of care they provide.
Patrick Casey, Director of Growth Marketing, Felix
Traditionally, you could expect a new treatment to take anywhere from five to 20 years to develop. It would require countless rounds of experimentation, trials, and approval from pharmaceutical regulatory organizations.
With Big Data on the scene, the drug development process has shortened by the years—even decades. Big Data can compile previous research from online databases and deliver them to researchers in organized formats.
Sometimes, the level of knowledge and technology now at our disposal has reduced the resources needed to bring newly tested and approved medications to the market. Big Data is one of the pharmaceutical health tech trends that’s saving lives in our era.
Stephan Baldwin, Founder, Assisted Living Center
One trend in 2023 is using digital technologies to improve patient outcomes and the overall healthcare experience. This includes the development and use of digital tools to support disease management, remote monitoring, and telemedicine, as well as the use of data analytics to inform clinical decision-making and drug development.
For example, wearable devices and mobile health applications are becoming increasingly popular for tracking and managing chronic conditions like diabetes or heart disease. These technologies allow patients to monitor their symptoms and vital signs remotely and share this information with their healthcare providers in real time.
Additionally, big data and machine learning algorithms are becoming increasingly prevalent in the pharmaceutical industry. This is helping companies to more quickly and accurately identify new drug targets, predict potential side effects, and streamline clinical trials.
Michael Green, Co-Founder, Winona
We are learning a few years after the COVID-19 pandemic that the world is unprepared to deal with such large-scale public health emergencies. Although our handling of COVID was relatively good, there is still so much we could have done to be ready.
We have learned these lessons, and will probably see increased use of artificial intelligence, predictive analysis, and big data in enhancing pandemic preparedness. Stakeholders in the pharma industry will begin large-scale investments in developing these AI tools and expand capacity within the industry to use them to predict and get ready for the next public health crisis.
We will also see a huge synchronization of health data across multiple sectors that will be crucial in making these AI models work.
Erik Pham, CEO, Health Cana
By enhancing data security, interoperability, and efficiency, blockchain technology may fundamentally alter the healthcare system. Healthcare providers may guarantee the precision, safety, and availability of patient data by using a distributed ledger to store and share it.
Data breaches and fraud plague the healthcare industry; we can mitigate both with the use of blockchain technology. Since there is a growing demand for safe and effective healthcare data sharing, blockchain is likely to gain popularity. To fully harness the potential of blockchain in healthcare, however, we must overcome obstacles relating to regulation, data protection, and interoperability.
Tiffany Payne, Head of Content, Pharmacy Online
Clinical trial diversity is an emerging trend in pharma health technology this 2023 because researchers and analysts want to gain a diverse perspective on how new drugs affect different populations.
There is a gap to be filled in understanding the differing needs and challenges that different populations may have. Focusing on diversity in clinical trials will help the pharma industry target their research and development in such a way that they can address the varying concerns and challenges of a more diverse population.
Mark Woodbury, Co-Founder, Minerva Equity
Wearable technologies have become an integral part of consumer technology over the past decade. More tech companies are looking to create personalized wearable devices that change how humans interact with technology on a day-to-day basis.
I expect to see a major push by the pharmaceutical industry to integrate these technologies into healthcare. We can do this in several ways.
For instance, we could see increased use of wearable technologies for remote patient tracking. This means that with proper authorization, caregivers and physicians will track real-time patient health data and use it to create customized treatment plans. Wearable technologies will also be fine-tuned to enhance disease diagnosis, early detection, and track treatment for the best results.
Logan Nguyen, Co-Founder, MIDSS
Bioprinting is one of the most useful and exciting leading Pharma Healthtech trends. As someone who worked in a research hospital, I got to see firsthand the benefits of using 3D printers to recreate human tissue and organ models.
Examples of the world-changing benefits bioprinting afford researchers include drug testing without human subjects and the ability to model diseases and treatments in a controlled environment. Imagine how much more effective this tech trend is making Pharma!
Not only is the need for animal and human testing being eliminated, but researchers can now test thousands of treatment methods in a much more time-efficient manner. This is also a powerful trend because of its ability to combine with AI technology in creating personalized modeling and treatment for patients. It’s no longer just, “This is our treatment for colon cancer,” it’s “Hi Brian, this is your custom-tailored colon cancer treatment based on your DNA model.” Lifesaving!
Brian Clark, CEO and Marketing Director, United Medical Education
Digital therapeutics involve using technology to deliver evidence-based interventions to improve patient outcomes. This can include software applications (apps) with user-friendly interfaces that act as a suite of digital tools for diagnosis, treatment, monitoring, and long-term engagement with patients on their health journey.
Additionally, they can provide clinical decision support or information to healthcare providers so they can make informed decisions about care plans and treatments for their patients. Digital therapeutics also include connected devices such as wearables and implants, which are used to collect data from individuals in real-time; this helps healthcare professionals better understand patterns and customize treatments according to individual needs.
Sarah Gibson, Director, Proactive Healthcare
With the rise of health data technology, sleep monitoring has become one of the leading trends. Sleep tracking and monitoring are helping to better understand how people are sleeping, and how their sleep patterns can be improved by the pharma industry.
Data from sleep monitoring devices can provide valuable insights into a person’s sleeping habits, which can create personalized treatment plans for better overall health. Remote sleep tracking allows people to track their sleep without having to leave their homes, providing them with more convenience and accuracy in their measurements.
Sleep tracking also helps researchers understand how different lifestyle factors affect a person’s sleep quality. Data collected from remote sleep tracking devices can help researchers identify correlations between lifestyle choices and other health needs to ensure it’s not affecting one’s sleep quality.
Marc Werner, CEO and Founder, GhostBed
This article was written by Brett Farmiloe from TechBullion and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to firstname.lastname@example.org.
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