T he dire need to develop a COVID-19 vaccine highlights how an unprecedented onset of a global pandemic can disrupt the life sciences industry and its established processes. This also increases speculation on major other disruptive factors that may alter the course of the life sciences industry in terms of identification, prevention and cure of diseases in the future.

Industry experts predict five major trends that are most likely to reshape the life sciences industry in the post-pandemic scenario. Pharma leaders need to consider these trends, which will directly impact the services they provide, the solutions they offer and the capabilities they need to work on. Those organizations that take proactive steps to redefine their business strategies will most likely succeed in a post-pandemic world.

The Five Forces of Change

1. Prevention and Early Detection
The rise of the global health crisis illustrates the significance of effective vaccines in preventing the future spread of infectious diseases. However, a predictive approach and precautionary measures towards chronic illnesses could prevent the occurrence of such diseases altogether. Strategies to enable early detections will stop such pandemic scenarios in the initial stages—before they transition to many serious stages. Industry experts suggest that chronic illnesses are likely to be treated with a higher success rate when detected at earlier stages.

2. Customized Treatments
Personalization and customized prescriptions are proven techniques that would work only on a selected few individuals. Pharma leaders of the future could examine an array of determinants like genetic information, clinical, social and digital healthcare data—to prescribe the right combinations of drugs for patients. To achieve this level of personalization, health professionals would require copious data including—Real World Evidence (RWE) to optimize outcomes of existing treatments—or new clinical trials that help detect the optimal dosing and high responders.

3. Curative Therapies
Curative therapies that aim to eliminate disease symptoms by addressing the core cause permanently—have a greater potential to minimize the prevalence and occurrences of diseases—especially those that result from single genetic mutations. And treatments that cure the diseases could drastically drive down the spiking demand for prescription medications.

4. Digital Therapeutics 
Digital therapeutics that leverage next-gen technologies to provide evidence-based interventions could replace conventional treatment methods—to manage better or treat a medical condition. These digital therapeutic techniques accelerate Cognitive Behavioral Therapy (CBT) and other digital interventions to foster behavioral changes that can enhance patient outcomes. For instance, virtual coaches can help patients modify their behaviors to cope with depression, anxiety, insomnia and other related conditions. Digital therapeutics in the future predominantly rely on user adoption, its capabilities of yielding the desired results, pricing, reimbursement, among other factors.

5. Precision Intervention
Artificial Intelligence (AI), Robotic Process Automation (RPA), tissue engineering, and other cutting-edge technologies can create a transformative impact on cancer, chronic diseases, and inflammatory conditions. An AI-powered Robotic surgery intertwined with advanced analytics and augmented reality, for instance, can help remove a tumor—that was previously inoperable. Microscopic nanotechnology elements can seamlessly enter the affected tissues and provide more accurate and precise interventions. Medical device companies could leverage 3D printing technologies to build customized solutions to recover damaged tissues.

Preparing for the New Normal

With the rise of these five major forces, pharma leaders need to ask themselves these questions that could forever disrupt the life sciences industry.

• How will these five innovations impact our current business model?
• To what extent do we want to invest in these emerging trends?
• How can we best tackle these disruptive forces now? What capabilities do we need to venture into these areas? Are there any coalitions or acquisitions we need to consider?
• How do we track and monitor the ecosystem of potential future disruption?

Company leaders need to equip themselves with actionable insights and then build the right strategies that revolve around prevention, early detection and personalization. Organizations that take the proactive approach are the ones that are most likely to succeed—with surging demands for drug interventions to treat chronic conditions and symptomatic diseases.

To discover how your organization can take advantage of these disruptive pharma trends, talk to our team.