Pharmaceuticals in Health Solutions
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In 2014 we launched our first predictions report - Healthcare and life sciences predictions 2020: A bold future? It provided an intentionally positive and provocative view of what the world might look like in 2020. Since then the pace and scale of innovation has meant that some of these predictions are already a reality, while some are still some way off; yet others may never happen. Moreover, in the intervening years, the life sciences and health care industries are waking up to the fact that new science, automation and robotics will have a significant impact on the future of work. Last week we launched our newest predictions report - ‘The future awakens: Life Sciences and health care predictions 2022’. This week’s blog provides an overview of our six predictions and an example of the evidence today that enables us to say with some confidence what tomorrow might look like.
Computer and smart phone applications are pervasive across the world and cover almost every conceivable facet of a peoples lifestyle choices. As of March 2017, the two largest app stores had a collective library of apps totalling 5 billion.i However, as demonstrated by our report, ‘Pharma and the connected patient: How digital technology is enabling patient centricity’, the uptake of applications produced by Life Science companies remains low. This week’s blog is by David Rosner, a principle in the firm’s US practice, and it was recently featured on the US Centre for Health Solutions site.ii David references our report and explores some of the reasons for the low uptake of applications by Life Sciences companies.
State of the smart: Mobile consumer patterns and their implications for life sciences and health care
Earlier this month saw the launch of the seventh edition of Deloitte’s “Mobile Consumer Survey: The UK Cut”. The survey explores the state of the current mobile landscape and how it is likely to change over the next five years. It contains data from 4,150 respondents in the UK aged 16-75 and is a cut of the global survey that provides unique insight into the mobile usage behaviour of nearly 53,000 respondents across 33 countries. In this week’s blog, I look at some of the data from the UK Cut and explore what it means for consumers in the health care and life sciences industries.
Last month we published our report ‘Pharma and the connected patient: How digital technology is enabling patient centricity’, which looks at the ways pharma is utilising digital technologies to place the patient at the centre of new business and operating models. To support the report, we commissioned primary research from PatientView, a UK-based research company specialising in obtaining perspectives from patient groups across the world. PatientView surveyed patient groups, on our behalf, on their views regarding the use of health apps, including those produced or developed by pharma companies. A mix of 10 multiple-choice and open-ended questions were asked, to which 190 patient groups, representing 56 therapy areas from 38 countries, responded. This week’s blog, by Amen Sanghera, one of our two analysts here at the Centre, takes a deeper look into the findings from the survey.
Keep calm and carry on: How can the healthcare and life sciences industries weather the Brexit storm?
We have now had the best part of a week to absorb the momentous news that the UK has voted to leave the European Union. Much has been written about this seismic event and, following our blog in February this year, on what Brexit might mean for the healthcare and life sciences industries,i we thought we should use this week’s blog to update our views on the potential risks and opportunities for our life sciences and healthcare sectors.
Over the last 15 months some of our Monitor Deloitte colleagues have been working with the Office of Life Sciences to help the UK establish a programme of accelerated access to clinical innovation for NHS patients and a healthy environment for the Life sciences industry. This week’s blog introduces the latest results of our involvement – the publication of a ‘How to Guide’ from early idea development through to large scale adoption.
When I think back on the 16 years I spent in market research and consulting for the life sciences industry, much of my time was spent forecasting. Forecasting informs a multitude of activities and decisions, both strategic and tactical, within the industry and I was lucky enough to be immersed in many of these:
- assessing the market potential of a new product launch
- quantifying commercial opportunity within a new geography
- estimating the size of a therapy area or indication
- evaluating the impact of a new competitor on a market incumbent
- predicting the likely returns of a product at different price points
- gauging the commercial potential of an acquisition or divestment, be it an asset, a portfolio of assets or a company level
- forecasting the size of a salesforce for a new product launch, to name just a few.
April 30th is National Take Back Day in the US. Take back events encourage consumers/patients to return unused medicines that are lying around their homes to pharmacies, so that they can be disposed of properly. This reminded me of a recent experience that troubled me enormously.
In December 2015 we launched our sixth annual report on ‘Measuring the return from pharmaceutical innovation’. Our research highlights the difficulties that the largest pharmaceutical companies face in delivering sustainable returns on their late stage R&D pipelines. Indeed, while the cost to develop an asset has increased by a third since we started our analysis six years ago, forecast average peak sales has declined by half. Additionally, our measure of forecast R&D return on investment (RoI) has also shown a significant downward trend, with the average across the 12 companies declining from over ten per cent in 2010 to just over four per cent in 2015.
The Conservatives' 2015 election manifesto committed to hold a referendum by 2017 on whether or not the UK should stay in or leave the European Union. Increasing unrest among Eurosceptic politicians and a narrowing of the polls on the likely outcome of the vote has led to the suggestion that the referendum could be held as early as June or September 2016. While all industries are speculating on the potential impact of an “out” vote, the global pharmaceutical industry faces some very specific concerns. This blog considers some of the main questions that the pharmaceutical industry is contemplating as part of the in/out debate.