All players in the healthcare market understand that the old model of the pharmaceutical industry, which has traditionally focused on developing molecules and promoting new drugs with the support of teams of sales representatives, will no longer be tenable in the near future.
Technology companies, including digital startups, have introduced health services based on the use of AI, microchips and cloud computing. The resulting monitoring solutions are the best for patients suffering from chronic diseases. Such solutions can effectively help patients manage the disease and provide a significant improvement in quality of life.
The digitally-driven transformation in health
In the era of digital health, the patient journey will be significantly transformed due to the use of AI at the monitoring and decision making stages. As a result, personal communication with a physician will become less relevant in the medical treatment and health maintenance. And a digital platform will become almost more important than medical treatment.
For example, in the treatment of diabetes insulin delivery systems, insulin pumps and devices for continuous monitoring of blood glucose are no less important than the insulin that a diabetes sufferer uses. Add to that the fact that effective control of type 2 diabetes, by following a proper diet and increasing physical activity, can make it possible to live without pills.
A virtual opportunity for expanding the value chain
Companies are beginning to invest more and more funds in digital health. Big pharma does not want to dwell in the digital world, but they also have begun to play in this market. This is the next logical step in the evolution, because pharmaceutical companies have vast expertise in disease, in the patient and health in general. So it seems that big pharma has the opportunity to significantly expand the value chain beyond just developing and promoting medicines.
In the new digital reality, access to patient records becomes a matter of power, because it provides possession of valuable information that allows the analyzing of disease outcomes, identifying symptoms that make it possible to reveal the presence of orphan diseases. All this leads to better diagnosis, treatment and disease outcomes.
A greater role for market research players to future-proof pharma
It seems that big pharma will be increasingly immersed in the process of digital health transformation, trying to find its place in a changing value chain. The role of market research players and consultants at this stage is to provide pharmaceutical companies with information about the market ensuring companies keep one step ahead of the marketplace, anticipating events and giving recommendations for the future and providing guidance about how to prepare for the transformational challenges of our time. Studying the evolution in the patient journey and understanding the new role of the doctor will allow pharmaceutical companies to always be relevant and up-to-date, enhancing their means of communication with patients and doctors according to the requirements of the market landscape today and tomorrow.
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