DIGITAL DISRUPTION IN HEALTHCARE AND LIFE SCIENCE UNLEASHING OPPORTUNITIES

2. Unlike other industries, healthcare and life sciences were working more towards a provider-centric approach. While the changing consumer preferences or behavior is the key driving force, the emerging digital technologies have accelerated it to a whole new level. The use of technology-enabled services along with faster access to records and data is making it possible for healthcare providers to resolve the current and future healthcare pain points. As a matter of fact, let's take the example of the Covid-19 outbreak. It was only because of the digitalization of the healthcare systems (primarily pharmaceuticals and biotechnology) that made it possible to develop vaccines so quickly to fight against this pandemic. It used to take years to bring a vaccine to the market, and now more than five vaccines are up and running. But it's the increasing familiarity of the consumers towards digital technologies that's the primary reason behind adopting these innovative technologies. In fact, if you go by a 2020 Medisafe/Dynata survey, more than 40% of consumers were using digital health for the first time. And that more than 55% of respondents were willing to stick to these services in the post-Covid world as well. But what's actually changing? This article will talk about most of the digital disruptions that impacted the healthcare and life sciences industry by far. View For More Information:- https://www.pukkapartners.com/insight/digital-disruption-in-healthcare-and-life-science- unleashing-opportunities

3. A Shift Towards Patient-centric approach This is one of the most significant changes in the pharma/biotech industry. The ubiquitous nature of the internet and the growing use of mobile and sharing tools are readily turning patients into super consumers. This is why the industries need to keep them at the center of their paradigm. As per the statement released by the Managing Director PR of Syneos Health Communications, the pharma industry was more towards patient-focused models. However, digital disruption shifts the power away from the providers to the customers, making the entire setup patient-centric. Moreover, chatbots, VR, and AI for better engagement with patients are rising significantly. In fact, the pharma industry is responding to these changes by adding patient centricity to achieve the endpoints. Some are even developing apps to empower patients to manage their conditions better. For example, at AARDEX, the group is creating a single comprehensive adherence solution that can further be integrated into electronic data capture or interactive response technology or other third-party applications to provide analysis for medication- taking behaviors. This is allowing them to optimize drug trials significantly. Talk To Analyst :- engage@pukkapartners.com

4. Digital Health Coming to The Forefront Digital technology enables companies to capture the clinical insights that were not possible if they had limited themselves outside the traditional clinical settings. For example, a clothing sensor is helping providers to monitor movement for the elderly living independently in their houses. It doesn't end there! The range of connected health devices allows individuals to capture every data right from weight to measuring a tremor. One can even collect data related to heart rate, respiration rate, oxygen saturation, sleep, or activity data outside the hospital ecosystem. Further, machine learning or deep learning technologies are helping life sciences companies provide efficient customer service and better equipment. As per the latest research findings, machine learning can help automate more than 70% of activities. Another novel application is the use of drones to deliver life-saving drugs in areas that lack infrastructure. And with the approval of digital therapeutics from the FDA, such apps are rising in demand more than ever. Let's not forget that the end goal in this industry is to protect the patient or improve the outcome. And such digital health platforms and devices are helping the industry to achieve just that.

5. Talking About The Framework That's Guiding The Transformation Digital disruption allowed the companies in this industry vertical to innovate products keeping in mind the needs and desires of today's patients/super consumers. However, it is not as easy as it sounds. The goal is to see things differently, think differently, and, more importantly, do things differently across all the touchpoints. This is how the companies are integrating digital strategy into their day-to-day business operations. Engage with Us :- : engage@pukkapartners.com Innovation The upcoming technologies are acting as a critical driver for biopharma companies. For instance, cell and gene therapy, nanotechnology, 3D printing, and other technologies have the potential to transform the treatments that such companies offer. Besides this, the same technologies allow biopharma companies to understand the patient journey better, thereby enabling them to create customized products or solutions. Engagement As we already mentioned before, the companies are moving towards personalized service or product offerings. But as time moves ahead, most of these service offerings will be focused on prevention or behavioral modification. For instance, AI is helping with data concerning patient attributes, which is further helping healthcare providers to devise a better treatment.

6. Execution While the digital disruption is specifically helping patients be at the center of everything, the same digital transformation is helping the companies to reduce their R&D costs while enabling them to create targeted products. Moreover, it's helping with supply chain and manufacturing optimization as well. Wrapping up The healthcare industry is finding it hard now to keep up with the pace of evolving digital landscapes. The rise of mobile communications, cloud, data analytics, and IoTs is readily changing this industry's face. The surge in the "beyond the pill" strategies is becoming critical to serving the patients' needs. As per a survey, more than 80% of the patients confirmed that they were confident enough to take care of their health needs using online sources. If you are not using the same means as your target customers, you won't stand a chance to stay relevant and ahead of your competition. This is why it is essential now more than ever to devise a strategy that will enable the companies to pave the path to digital success. So, tell us, are you ready to take your business to the next level? If yes, what are you doing to meet the demands of the tech- savvy super consumers? Or are you still procrastinating whether to take this step or not?

7. Major Market Highlights Solvay and Leonardo announced a composite research collaboration in February 2021, announcing the opening of a new lab for the development of composite materials and manufacturing processes for the aerospace industry. Solvay and Strata opened a new manufacturing facility in Al Ain, UAE, in June 2020. This manufacturing facility was created specifically for aerospace-grade pre-impregnated carbon fibres, and it is the first in the Middle East and Africa region, as well as the fourth in the world. Scott Bader's Australia business unit purchased Summit Composites Pty Ltds. entire assets in June 2020. This purchase helped the company expand its market share in the Pacific region. Effect of COVID-19 on the Global Composites Market Our team has noticed that demand for composites is slowing down during the pandemic era. However, it is expected to rise at a healthy pace starting in mid-2021. Many countries around the world have imposed stringent lockout regulations to prevent the pandemic from spreading, causing all sorts of business practises to be hampered. The closure of the marketplace has completely disrupted the demand and supply of raw materials, as well as product manufacturing and distribution. Transportation, aircraft, oil and gas, and computer sectors have also suffered significant financial losses. This has resulted in low demand for a variety of products and materials, including composites. View For More Information :- https://www.pukkapartners.com

8. How We Are :- Pukka Partners provide customized intelligence solutions to C-suite executives and functional growth leaders, along with other key offerings including market & competitive intelligence, management & strategy consulting, pre-investment advisory, real-time business intelligence, and data analytics services across sectors, globally and locally, on new & emerging technologies. markets and disruptive We offer advisory and actionable insights around public policies, investment tracking along with the obstacles faced by investors, innovation and strategy impact industry potential, and technology mapping through comprehensive and standardized research methodology and tools. We deploy our solutions to solve prioritized and critical business challenges by leveraging our in-house expertise and continuous engagement with industry thought leaders in the business ecosystem. monitoring, identification of Contact Us:- engage@pukkapartners.com https://www.pukkapartners.com