and all copyright resides with the group. The prominent pharma industry trends include artificial intelligence (AI), additive manufacturing, blockchain, and other Industry 4.0 technologies. Seven emerging pharma industry trends to watch for in 2021. McKinsey estimates that by . The result? The healthcare industry has experienced significant growth and changes over the past few years. . Social media trends change all the time, and pharma marketing organizations have to be nimble to make the most of them, according to Lauren Sacks, Director of Omnichannel Marketing at Biohaven Pharmaceuticals. In our health care system, interoperability is the Holy Grail. COVID-vaccine breakthroughs open up new directions for mRNA technology The COVID-19 pandemic has put the pharmaceutical industry in the front line of a global public health effort, raising its profile as an innovation-driver and providing welcome relief from years of routinely hostile media coverage. According to McKinsey, the rate at which companies introduced products and services that are digital in nature advanced by six years in North America, seven years in Europe, 10+ years in Asia-Pacific and seven years globally. 2020 has opened up as many new possibilities for the pharmaceutical industry, as it has introduced in the form of obstacles. Article Petrochemicals 2020: A year of resilience and the road to recovery May 21, 2021 - Most companies showed recovery of revenues and profits to pre-COVID-19 levels in the third and fourth quarters. 5 In parallel, HCPs' adoption of digital channels and telemedicine has accelerated for interactions with patients and pharma reps alike. Following PwC's prediction report, the pandemic's long tail in 2022 may increase utilization and healthcare spending, owing to the return of some care deferred during the beginning of the pandemic, the ongoing costs of COVID-19, increased mental health and substance use issues, as well as general worsening population health [1]. . Pharmaceutical Industry Trends: Growing Technology and Innovation. R&D AI-volution In the US, the average time-to-market for an experimental drug is 12 years. 5d Edited. These four trends to watch are likely to guide the further transformation of biopharmaceuticals in 2022. Trend 5: Concerns over clinician burnout will continue. Better utilization of unstructured health data. Article Transforming biopharma R&D at scale May 6, 2022 - Transformations often struggle to scale up and make change stick. May 10, 2022 - Leading pharma companies are achieving rapid, large-scale performance improvements using a multifaceted approach that realizes. To achieve lasting impact, high-performing R&D organizations. Fjord Trends 2022: The new fabric of life. Pharmaceutical Trends for 2022 Trend #1. Refined nursing workflows. 1. 1. Executives have been trying (and often failing) to integrate customer . COVID will continue to be a major driver for several companies. Burnout across the care team was a known issue for healthcare organizations long before COVID-19, however the global pandemic has certainly worsened the problem. Named "Top Tech Person To Follow" by LinkedIn, Cited as "Top 10 Global Tech and Cybersecurity Expert & Influencer", Georgetown U Faculty, 2X Presidential Appointee, Board Member, FORBES . Accelerated new treatment delivery cycles. Johns Hopkins School of Medicine. The key trends focus on the peripandemic healthcare environment, which includes the reengineering of healthcare delivery via testing, treatment, and vaccination. Looking ahead to 5 pharma trends for 2021 that will set the agenda for industry, it is hard to escape COVID-19 both as a challenge and a spur to new directions. 4 However, the first COVID-19 vaccines were developed, tested and approved in under a year, providing insights into how the process can be accelerated. In the past, pharma companies knew the most about their products. Current business dynamics indicate that innovation will continue to drive growth in the 2022 pharma market. Surveys will always play a part in customer experience and market research. This new model will be a norm for the future customer experience as it offers convenience, access, privacy, and efficiency . 5 Most Important Healthcare Marketing Trends for 2022 #1: Multigenerational and multicultural marketing will become more sophisticated . Here we explore four trends that will transform the pharma sector in 2025. The COVID-19 pandemic has put a spotlight on the pharma industry , becoming a disruption that has upturned many conventional and existing channels and methods of . Now, through real-world evidence, health systems and health plans may know even more about how well drugs work in patients than pharma companies do. It is still elusive, like the object sought by the knights of Arthurian . Trend 3: Pharmacists are coming out from behind the counter Joining the front lines of patient care won't just be remembered as a pandemic trend. Biosimilars Continue to Gain Ground. The increasing investments, growth of technology startups, and the expiry of several key patents, as well as increasing inter-organizational collaborations and a favorable regulatory environment, are spurring innovation across the pharma industry trends. Manufacturers would be wise to employ these strategies to gain ground in the new year. Here are the top three things to know about pharma social media trends in 2022: 1. McKinsey & Company 3 56% Share of respondents to a 2021 global survey who said their organizations were adopting AI (up 50% from 2020) Global expansion of AI 94.4% Improvement in training speed for AI models since 2018 Easier and more affordable AI implementation 30 Roger Simard. Capacity doubled without adding extra resources, thanks to faster decision making and accelerated development. Don't be afraid to try new things. Telehealth to take center stage. Pfizer expects earnings from its Comirnaty vaccine to be around U$29bn in 2022, only slightly down from the expected earnings of US$36bn. The prospective pharmaceutical industry trends we identified in late 2019 were all pre-COVID, even if they continue to unfold. The production of biosimilars is on track to bring new products and stakeholders to the biopharma market in 2022. Artificial Intelligence & Computer Vision: AI innovation in the pharma sector has observed a notable advancement in the past few years. The global AI in the pharma market is projected to grow from $934.56 million in 2021 to $1,236.09 million in 2022 at a compound annual growth rate (CAGR) of 32.3%. Here is what they told us. June 1, 2022 - Prices for petrochemicals in the United States have increased significantly, even beyond what fundamentals would dictate. Surveys allow researchers to benchmark performance, capture post-purchase feedback, and develop a data cache with periodic surveys. Here are five top trends that will shape the 2022 healthcare scene and their expected impact on providers: A pressing need to rebuild trust. In 2022, CX programs will grow far more comprehensive in scope. A survey conducted by McKinsey in Europe shows that the average number of in-person contacts between HCPs and pharma sales reps was 70 percent lower in September 2020 than before the pandemic. The first reports of confirmed COVID-19 infections did not . Here are three trends in healthcare that I think will continue . According to McKinsey, telehealth is used 38 times more than pre-pandemic days. Gene therapy is poised to become a key part of the pipelines of major pharma firms starting in 2021 and beyond. Pharmaceutical & life sciences deals outlook. The global digital health market was valued at USD96.5bn in 2020 and is expected to grow at a CAGR of 15.1% from 2021 to 2028. Chief Digital Product Officer. The key issues trending among US healthcare stakeholders apply to 2021 through 2022 at a minimum, and could extend to 2023 or later, depending on contract renewals or vendor changes. Little wonder that many pharma companies, having upgraded their 2021 earnings forecasts, are issuing bullish (if tentative) forecasts for 2022. Innovation Map outlines Top 10 Pharma Industry Trends & 20 Promising Startups "By 2025, more than 50 billion devices will be connected to the Industrial Internet of Things (IIoT)," McKinsey predicts. Increased scrutiny from the US Federal Trade Commission (FTC) around larger deals could mean that 2022 will be a year of bolt-on transactions in the $5 to $15 billion range as pharma companies take multiple shots on goal in order to make up for revenues lost to generic competition in the remainder of the decade. "In 2022, a surge of workforce shortages will sweep across the healthcare industry," according to Forrester Predictions for . In October, Bayer agreed to acquire Asklepios BioPharmaceutical (AskBio) for up to $4 billion. For example, before the COVID-19 pandemic, one pharma company that was striving to increase its R&D capacity extended agile working to more than a dozen departments and more than 700 scientists in the course of a year. Pharma companies' focus on the consumer may reflect gains in information symmetry between manufacturers and plans. Large pharmaceutical companies such as Merck and Eli Lilly churned out new antibiotics, vaccines and medications at an astonishing rate that radically changed people's lives for the better. The hearing before the House committee is part of an ongoing probe into McKinsey's role in the US opioid crisis that has been linked to over 500,000 overdose deaths from both prescription pain . March 2, 2022 | Interactive We asked leaders in industry, academia, and at McKinsey to share their perspectives on the technology trends likely to headline business agendas this year, the ones that couldbut shouldn'tslip through the cracks, and what executives should think about when considering new technologies. One of the leading players in the industry, Johnson & Johnson, has reported sales of $23.3bn in the third quarter of 2021, a rise of 10.7% compared to $21.08bn in the same quarter in 2020. Article Four ways to make sure your pharma manufacturing strategy delivers value This site is operated by Pharma Intelligence UK Limited, a company registered in England and Wales with company number 13787459 whose registered office is 5 Howick Place, London SW1P 1WG. The Pharma Intelligence group is owned by Caerus Topco S. r.l. Results vary across sectors, with the most significant increases occurring in healthcare and pharma, financial services and Two days later, Novartis acquired Vedere Bio, a developer of ocular gene therapy, for up to $280 million. AI has unimaginable potential, and within . Telemedicine trends: Virtual care in Canada has grown by 240% since April 2020, with 45% of clinicians choosing to implement telemedicine services in their practice, according to McKinsey's 2020 survey report. The Covid-19 pandemic significantly altered the clinical trials landscape, and a Clinical Trials Arena analysis by Andrew and Kezia Parkins shows the frequency of decentralised clinical trials will reach new heights in 2022, with a 28% jump from last year. The post-World War II era was a golden age for the pharmaceutical industry. May 10, 2022 - Leading pharma companies are achieving rapid, large-scale performance improvements using a multifaceted approach that realizes short-term gains and builds long-term capabilities at the same time. The elevation of the pharmacist to a critical component of a patient's care team has highlighted the need to create more time for them to spend with patients.

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