Our selection of articles today is right at the intersection of pharma and life sciences. This area is closely related to health tech, though not exactly the same.
Keeping up with industry updates is beneficial for all those working in the care industry. Professionals in the pharma field read about trends and changes to better analyze the market, adopt cutting-edge tech in time and remain versatile. Those in the healthcare sector could benefit from knowledge about the related health services market and perhaps be inspired to implement new solutions in their company.
Healthcare systems are coming to uniform standards, while different industries have learned to exchange data more and more, with fewer and fewer barriers. The differences between pharma, life science and health tech are predicted to disappear soon. Another approach will take place. The data will be a cross-ecosystem, with the patient at the center of that data. Therefore, if you work in health tech and consider the life sciences field out of your scope of interest (or the other way around), it might be a gap in the long run.
The modernization of health and pharma analytics in a post-Covid world – Five predictions
Astrazeneca and MGH are investing into helping patients with chronic illnesses manage their conditions, get prescribed new medicine and receive other care without having to visit hospitals. Affirming the trend in the article above, this software is a great example of how the industry is consolidating systems already. In fact, the software unites pharma, supply chains, telemedicine and health care providers all in one place.
Today, one of the most critical issues with COVID-19 vaccine manufacturing is lack of materials, some of which have a waiting time up to 15 months to get delivered. Suppliers usually have a quite steady demand for products, which now have skyrocketed significantly. This shows an interconnection and interdependency of bio and pharma sectors, as well as provides opportunities for improvements, supply chain optimization and, potentially, new businesses. Specifically, it is a good niche for development and launch of pharma data platforms, which could address the supply chain challenges.
Supply Chain Challenges Creating Hurdles to COVID-19 Vaccine Production
The processes in life science organizations and businesses still heavily rely on manual and localized information sharing, making it hard to achieve prime data quality and utilize it for high-level predictions or analytics. The life sciences are late (but rapidly catching up) in digital information management. To combat the data-related issues, there has been an increasing demand for unified architectures and automated cross-platform data gathering in the field. At the same time, the answer isn’t in the one-time software purchase. Instead, companies must invest into data quality sustainability programs and data governance structures that will enable a long-term improvement process. Health tech companies can help plenty in that, from creating large-scale custom-made software to helping implement and improve that software.
As the tradition goes by now, we finish with our own article on the pharma sector. One of the staples of the pharma industry are analytic platforms. These can perform any function, from patient or instrument monitoring to active AI-enabled research platforms and clinical trial management tools. Despite the large scope, there is a limited but critical number of things a company must understand in order to develop one: industry company needs and big data. A basic design of an analytic platform for pharma consists of three tiers: data and statistics, middleware and analytics, reporting and visualization. While it might be easy to get lost in a platform’s possibilities, it is important to prioritize the functions necessary for the company’s short- and long-term goals.
Big Data and Pharma: Building Preclinical and Clinical Analytics Platforms
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