Life sciences Predictions 2016

Analyst Life Science Predictions 2016

Christopher Manfredi

By 2018, digital drug launches will be standard, with 80% of the top Pharma companies announcing new products via at least five digital channels.

Predicts 2016: Digital Generates Business Value Opportunities in Life Science

By 2018, Social Media will be a standard part of the marketing mix for 80% of the top 50 Pharma companies, even though clear FDA guidelines will not have been issued.


By 2019, 50% of the top 100 life science companies will have initiated at least one clinical trial involving wearable devices


By 2019, 30% of the top 100 life science R&D IT organizations will have successfully moved big data projects from proof of concept (POC) and pilots into production


By 2019, only 25% of life science organizations selling into Europe will be truly identification of medicinal product (IDMP)-compliant, although investments in turnkey regulatory information management system (RIMS) solutions have been made


The rise of global health data, the volume of which is growing at around 50% per annum, is being fueled by novel real-world sources that are freely accessible. Vendor data will not go away, but those companies not also taking advantage of this extra open-source information will be at a major disadvantage to their competitors.

Predictions for Life Sciences commercial Insights in 2016

Big data management and analyses are currently being effectively managed in the background with the help of agility conferred by the cloud. Expect that only IT management will need to focus on big data issues over the next few years, leaving researchers and management to focus on science and business

Perspective: U.S. Life Science Top 10 Market Trends for 2016

RBM implementation by early adopters will deliver both near-term cost and time savings, and the approach will become the status quo in clinical trial design over the next three to five years


In 2016, we expect significant growth in the use of wearables, clinical trial IoT technologies, and patient-centric apps, greatly expanding the scope and contribution of mobile solutions in the space.


Pharma marketing spend to shift away from traditional channels and become more heavily devoted toward predictive analytics and closer dialogue with payers


Echoing the EIU’s forecast of a 2015 dip in global health care spending, total global pharma sales (in nominal U.S. dollar terms) are expected to drop 2.7 percent that same year. However, the longer-term outlook is more positive: pharma spending growth should match health spending growth at an average of 4.3 percent during 2015-2019, and global pharma sales should reach $1.4 trillion by 2019

Deloitte 2016 Global life sciences outlook

Biotech drug sales were an estimated $289 billion in 2014 and are projected to grow to $445 billion by 2019


Analysts expect the worldwide biosimilars market to reach $25 billion to $35 billion by 2020


Estimated global medical technology (medtech) segment revenues are expected to increase from $369 billion in 2015 to $454 billion in 2019, growing an average of 4.1 percent annually


With this in mind, Gartner predicts that IT spending in the life sciences sector will reach $54 billion by 2019, growing at an annual average of five percent from 2015-2019


The current net present value (NPV) of the pharma sector’s pipeline surged 46 percent from 2013 to 2014, to an estimated total of $418.5 billion in potential future revenue. However, R&D expenditures are forecast to grow just 2.4 percent between 2013 and 2020, reaching $162 billion, below sales growth and continuing the industry’s balancing act between fostering innovation containing cost


Specialty drugs are on the rise: they currently comprise 31.8 percent of total drug spending and are projected to reach 44 percent by 2017


By 2018, 50 percent of the 3.4 billion mobile device users will have downloaded mHealth apps


The size of the global digital health market comprising wireless health, electronic health records (EHR), electronic medical records (EMR), mHealth, and telehealth, among others, was $60.8 billion in 2013 and expected to increase to $233.3 billion in 2020, growing at a CAGR of 21.2 percent


Industry Top Predicts 2016: The Technology Foundation for Digital Business Will Accelerate Industry Fluidity

Wearable devices, too, are creating opportunities in life science, but leveraging the technology in clinical trials has proved to be somewhat difficult. Leading companies in the life science industry are, therefore, leveraging digitalization, as well as flexible and agile business and organizational strategies, to deliver business value

Data analytics and visualization will heavily focus on operationalizing analytics, including better enabling ad hoc data analytics at all levels of the organization

Electric Utility Trends And PredictionsPerspective: U.S. Life Science Top 10 Market Trends for 2016

IoT will become an integral part of the clinical trials process, contributing to as many as 50% of trials by 2020


Many will move ahead of the regulation curve by implementing item-level serialization and tracking concurrently, well ahead of the current deadline of 2023. This will help pharmaceutical manufacturers avoid pre-deadline hiccups in the early 2020s.


New drug pricing decisions to expand beyond regional managers to include global brand management which will result in pharmaceutical companies delaying some new drug introductions in certain countries and choosing to avoid other countries altogether


References


Deloitte 2016 Global Life Sciences Outlook

Predictions for Life Sciences Commercial Insights in 2016


http://www.gartner.com/document/3174119

http://www2.deloitte.com/global/en/pages/life-sciences-and-healthcare/articles/global-life-sciences-sector-outlook.html

https://zephyrhealth.com/predictions-for-life-sciences-commercial-insights-in-2016/

https://www.idc.com/getdoc.jsp?containerId=US40657615