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Life sciences research and development insights
Reshaping R&D Innovation. Data-driven. Digitally enabled.
Innovation remains imperative amid increasing pricing pressures, growing market share for generic pharmaceuticals and biosimilars and looming patent cliffs. However, new avenues -- enabled by real-world evidence, translational medicine, big data analytics, digital health and other advanced technologies and innovations – offer life sciences companies new opportunities to improve R&D efficiencies and returns and elevate the patient experience.
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Transforming R&D with emerging technologies
Life Sciences R&D organizations are under increasing pressure to produce a sustainable return on capital given shifts in the market, regulatory and reimbursement environment. While the industry has recently produced groundbreaking innovation that has the potential to truly transform global health, scaling the impact will require rethinking and transforming the traditional R&D model. Advanced technologies and innovations such as robotics, artificial intelligence (AI), and cognitive automation, real-world evidence (RWE), digital health and telemedicine, can impact R&D across the entire value chain – from drug discovery to clinical trials and regulatory reporting. They will also impact the talent models of many organizations, and how R&D is conducted in the future.
Wearables, connected devices, mHealth and telemedicine all have potential to transform clinical trial design, recruitment and retention, as well as exponentially expand the data points collected. These same technologies offer new opportunities for manufacturers to harness deeper insights into pharmacovigilance and patient safety. With new regulatory pathways for real-world data, advanced information management and analytics, technologies can enable R&D organizations to access, analyze, and meaningfully act on RWE to advance drug discovery. Similarly, robotic and cognitive automation can enable cost efficiency, productivity gains, and quality/compliance improvements in clinical trials and regulatory information management.
Strategically applying digital innovation can help lead to a vibrant and sustainable life sciences R&D industry focused on high-value outcomes – an objective that is vital to the future of biopharma companies and to the future of global public health.
-Neil Lesser, Life Sciences R&D Leader, Deloitte Consulting LLP
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