20 June 2018

Technology Trends in life science industry

Technology Trends in life science industry

Image Courtesy : NWABR

In 2013, the pharma companies must embrace with new technologies, in-order to pose a challenging environment in the life science industry. Context- based services, converging data architectures, industrialised data services, social-driven IT, PaaS-enabled agility and orchestrated analytical security are the six industry technology trends that have been proposed.

For better improvements in the operating environments and to post a challenging environment in the life science industry, pharmaceutical companies in this sector must adopt the latest trends.

Cloud computing and mobile devices have been already exhibited by most of the pharmaceutical companies. Even though these technologies already exist, in-order to engage effectively with healthcare professionals, payers and patients, the companies must adopt latest and innovative technologies, as per the report given by Accenture’s Technology Vision report 2012.

Context- based services, converging data architectures, industrialised data services, social-driven IT, PaaS-enabled agility and orchestrated analytical security are the six industry technology trends that have been proposed, that will evolve in the next 3-5 years span, as per the report given by Accenture, a management consulting company.

Context plays a vital role in life science industry. Currently, 3G- and 4G-enabled smartphones are making use of location-based services, to provide important information in many industries. The pharma industries particularly, have already started to employ this technological approach of using smart phone apps. Because of which, the companies are able provide information about the disease along with the nearby medications available, directly to the patients. Pfizer is one of the companies that have adopted this technology.

Boehringer Ingelheim, one of the world’s top leading pharmaceutical companies, is having a proposed plan of introducing personal devices such as phones and tablets that will be directly connected to the glucose meters, so that the diabetic patients will get information, advice and medical treatment details, directly from the healthcare firm.

According to the report, context-based service technology also can be used in clinical trials to improve sales of certain clinically approved drugs in the near future, by providing the information about a drug, even before its registration, to the outer world.

In pharma companies, huge amount of patient’s data are getting stored each day. Managing these records is also one of the complex jobs of the pharma firms. So, the concept of serialisation came into existence. Even though this technology was used, most of the firms did not focus on managing and handling volumes of data. Linking the entire patient’s data to the genomic and genetic data, financial information and patient-reported data in one database, is one of the major challenge in this sector. In the near future, by using this technique, the major players and the drug makers can operate together, in providing better treatment to the patients. Along with this, the bio-pharma companies will be benefitted by targeting right participants more effectively for clinical trials and treatment. Consequently, converging data architectures will be useful technology in the future, as per the report.

Biopharma companies must realize that the internal or external data generated by the company can be used for multiple purposes, by means of sharing the data.

The data-sharing model will help the companies to move forward towards centralised data management.  By providing data management services in research and development (R&D), it can help to link data from contract research organisations (CROs), academic institutions and other partners and consequently provide new solutions, better idea and also highlights the safety of the drugs and devices in the pipeline, according to the report.

At present, the social media is one of the key pharma technology trends, which has become a major marketing channel.  To collaborate the life sciences companies, within their organization and outside is a major challenge for social media marketing.

Presently, through internet and social media, more than two-thirds of the US consumers are getting medical advice. In the future, trend is going to change, where the pharma companies will start utilizing the data for its internal use provided by social media, which will in turn provide information about the drugs to the patients and healthcare practitioners well in advance. Consequently, the R&D team will get an early feedback on the products through the marketing teams, which will help in meeting the consumer needs better.

Cloud computing is fast growing but a very old concept used by pharma companies. To reduce IT costs and improve scalability, companies such as GlaxoSmithKline, Roche and Novartis have adopted this technology.

In order to enhance this technology, Platform-as-a-service (PaaS) has been identified. PaaS is software application, which is an additional extension of the software-as -a-service (SaaS) model combined with the cloud computing technology called as solution stack, by using which the users can create apps. The companies will be able to switch over to variable operation cost model from the capital- intensive information technology and react to market changes by adopting PaaS.

Today, because of the shift towards cloud computing, social media, connected infrastructure and mobility,       security breaches have become common. IT department in the life sciences industry must understand the cause of threats, visualisation of behaviours and anomalies rather than monitoring them and providing simple data collection. “Data-centric” security must be adopted to enhance this feature, where companies will be able analyse the suspect employees activity and make a note of their time spent on downloading confidential data, via data platform, according to the report.

Source: pmlive.com

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