8 Top Pharma Trends In The Digital Health and AI Era - The Medical Futurist

One area of. AI adoption is in PHARMA. The reasons are simple

1. Large corporations have significant resources.

2. Intense competition.

3. Regulatory effects from CMS, and FDA

Amid the digital health era, the pharmaceutical industry has been experiencing a rapid evolution. Thanks to the new paradigms that novel healthcare delivery approaches and digital health technologies have brought about, pharma companies need to adopt new strategies and consider new investment opportunities to stay relevant in the ever-evolving healthcare landscape.

In this article, we cover 8 major trends for pharma companies to consider in the digital health era. We rank them based on their return on investment (ROI) and return on vision (ROV). The latter is particularly relevant in this era considering its rapid rate of evolution. 

To better appreciate the importance of ROV, we can consider the Apollo program. While it was focused on space exploration, the endeavour has resulted in a multitude of spin-off products across various fields. In the healthcare sector, those spin-offs range from medical imaging to innovations in dental care. 

As such, current investments can have wide-ranging applications in the future. From AI in drug development to digital therapeutics, a host of new technologies and trends hold promising ROI and ROV for pharma companies.

We share a collection of 8 major ones below, ordered from the most practical and promising to the least

The niche is rich in  applications

1. Artificial Intelligence for drug research and development

The process of drug research and development has traditionally been a time-consuming and labor-intensive one. This has involved considerable trial-and-error research before a drug can proceed to further developmental stages. This process can be made more time- and cost-efficient with the assistance of artificial intelligence (AI).

AI models, such as those developed by Benevolent AI, can analyze significant amounts of datasets from scientific literature, clinical records, and chemical databases in a more time-efficient manner than humans can. From this information, they can precisely identify targets and how potential drugs will interact with them.

Companies like Schrödinger and Google DeepMind have used AI for drug formulation. Their software predicts the behavior of drug candidates and assesses their safety and effectiveness.

2. New reimbursement models

Pharma companies can tap into the new healthcare experience that patients can have in the digital health era to offer more than just medication. By combining medication and technology packages, they can offer more enticing reimbursement models for both payers and providers.

There have been several examples of such innovative models in the past that combine pharmaceuticals with technology. GSK has worked with Propeller Health on smart inhalers. Partners Healthcare Center and Japanese drug maker Daichii-Sankyo teamed up to bring a connected wearable for patients with atrial fibrillation.

Digital tools have been shown to improve health outcomes while minimizing financial costs. With such offerings, pharma companies can make their products stand out while being beneficial for both patients and insurance providers.

3. Large language models for improved workflow and customer service

Large language models (LLMs) have been popularised by tools such as ChatGPT and Google Gemini. Beyond the hype, the technology is a practical trend in the pharma industry.  LLMs can boost a company’s efficiency by optimizing internal operations and customer service.

Roche’s internal LLM tool, Roche GPT, assists the pharma company’s team in optimizing repetitive tasks and sharing knowledge. The tool further supports their business by automating structured data extraction about therapies and patients from scientific articles and clinical test results. Pfizer has also deployed a similar tool to help with its marketing efforts.

LLMs could further be used to improve customer service. With an LLM-powered chatbot, patients can get answers to their queries such as medication side effects in their native language

4. Automation in the supply chain

The pharma industry’s supply chain stands to gain a lot by embracing automation in its midst. For example, by integrating AI, drug shortages can be averted. By analyzing data from various sources, AI software can forecast potential disruptions and suggest adequate measures to ensure a steady supply of essential medication.

Automation in the supply chain does not only involve AI software but robotics is also part of the picture. Denso Robotics’ robots are capable of automating tasks in the manufacturing process. Exoskeletons are another example of robotics assistance. While not fully automating tasks, they augment manual factory worker’s ability to carry heavy loads and work in uncomfortable positions. In the future, we can even expect automated drone deliveries to be carried out within manufacturing sites and beyond.

5. Digital therapeutics 

Using software as treatment might have sounded like a science fiction concept a decade or so ago, but this prospect is very real and promising with the advent of digital therapeutics (DTx). DTx can be described as evidence-based software applications designed to prevent, manage, or treat medical conditions.

The accessibility, privacy, and minimal side effects that DTx provides have enticed pharma companies to invest in this trend. Pfizer has teamed with Sidekick Health to launch a DTx solution for atopic dermatitis. Eli Lilly also partnered with Sidekick Health to develop apps to support breast cancer treatment. 

Other companies like RelieVRx or HelloBetter integrate cognitive behavioral therapy principles in their apps to ease chronic pain. We share more promising DTx examples in a dedicated article.

6. in silico clinical trials

in silico clinical trials promise to enable the conduction of experiments wholly via computer simulation, without the need for animal or human testing. By running drug trials on computer simulations of organs, this approach can be both time and cost-effective while circumventing the side effects on live participants. 

While this promise has yet to be fully realized, progress has been made towards it. The Wyss Institute has developed organs-on-a-chip to emulate the complex structures and functions of living human organs. Their technology has been leveraged by Emulate Inc. for efficient drug development. The mathematical model of human physiology created by HumMod has been used in several research projects. Further envisioning a future trending towards in silico trials, the Virtual Physiological Human Institute has been set up to encourage the effective adoption of in silico medical research.

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8 Top Pharma Trends In The Digital Health and AI Era - The Medical Futurist