The Connected Health Revolution: Transforming the Life Sciences Industry
Introduction
Connected health, an integrated approach to healthcare that utilises digital technologies and data, is rapidly transforming the life sciences industry. This paradigm shift, driven by advancements in digital health solutions, wearables, and AI technologies, promises to enhance patient care, streamline operations, and generate significant revenue. According to Capgemini Research Institute’s latest report, "The Connected Health Revolution," life sciences organisations are not just discussing connected health but are actively implementing these technologies. This article is part of a brand new Pharma IQ series exploring the impact and future of connected health.
Key findings from Capgemini's 'The Connected Health Revolution' report include:
- One-fifth of revenue from Life Sciences organisations is expected to come from connected health in the next five years.
- 63% of life sciences organisations already have an approved connected health product on the market or in the testing/development stage.
- Around half of life sciences organisations believe their connected health offering is mature, nearly doubling since 2021.
To unpack these insights, and understand more about how connected health is transforming the industry, Pharma IQ spoke to Thorsten Rall, Global Life Sciences Industry Leader at Capgemini, who shared his expert perspective on the current landscape and future trends in connected health.
Overview and Growth in Connected Health
Pharma IQ: Can you provide an overview of the significant findings from "The Connected Health Revolution" report and what they signify for the life sciences industry?
Thorsten Rall: Our latest research into the connected health industry suggests that organisations are increasingly confident about the promise of digital health technologies. The majority of life sciences organisations have connected health products already on the market or under development. The COVID-19 pandemic necessitated the rapid integration of digital technologies in healthcare, and this trend has continued, now extending to support for medication, diagnostics, and care. Regulations around market access and reimbursement have also become more established, accelerating the uptake of digital healthcare. As a result, we are seeing substantial improvements in digital and technological capabilities, with organisations leveraging innovative approaches to product development and forging strategic partnerships to speed up this progress.
Pharma IQ: What factors do you believe have driven the sixfold increase in biopharma organisations with market-ready connected health products since 2021?
Thorsten Rall: One way that organisations have brought more products to market is by addressing immediate healthcare needs, particularly through the use of mobile apps and smart medication adherence monitors. Unlike more complex medical devices which can take years to bring to market, these products take less time to develop and deploy, and they can also be updated and customised according to market requirements.
Current Adoption and Maturity of Connected Health Products
Pharma IQ: With 63% of life sciences organisations having connected health products on the market or in development, what are some examples of these products, and how are they impacting patient care and healthcare delivery?
Thorsten Rall: Most medtech organisations prioritise monitoring devices, digital health solutions, and therapeutic devices in their portfolios. The majority (72%) of organisations that currently have products on the market are focusing on monitoring devices such as wearables and home monitoring devices. This type of technology, and in particular the integration of generative AI, offers potential benefits including improved patient support, personalised care, and increased operational efficiency.
Pharma IQ: Approximately half of the organisations consider their connected health offerings to be mature. What characteristics define a mature connected health offering, and what advancements have these organisations made since 2021?
Thorsten Rall: Mature connected health offerings rely on robust data management and analysis processes. Only about half of surveyed organisations report a significant level of readiness in adhering to data-privacy laws and ensuring security. Less than 50% of the organisations have fully mature capabilities in areas such as data aggregation, designing for data interoperability, and data modeling and analysis. And only about one-third of organisations are equipped to handle unstructured data. This indicates a need for improvement across all aspects to attain higher maturity levels in data operations for connected health.
Generative AI and Technology Integration in Connected Health
Pharma IQ: How are life sciences organisations leveraging generative AI to enhance their connected health initiatives, and what specific use cases are showing the most promise?
Thorsten Rall: AI is already integrated in product development, and it is likely that we will see it become even more important in the coming years. One of the most successful use cases we have seen involved a clinical intelligence engine which used Google Cloud large language models (LLMs) to offer proprietary solutions to assist doctors in determining the best course of action for patients, answer medical inquiries, and generate summaries of clinical text. Another example is an OpenAI GPT that’s being used to assess the optimal vaccine dose for a patient.
Pharma IQ: The report highlights a need for robust data management capabilities. What challenges are organisations facing in this area, and what steps can they take to overcome them?
Thorsten Rall: These possible uses aren’t without the obvious risks, so organisations have to address this by planning for the right people, processes, and technology to support their use. It remains important to retain a human in the loop, providing ethical oversight, and mitigating possible errors. Currently, organisations face challenges around talent gaps in AI, inadequate data availability, as well as concerns around bias in the implementation stage. Life sciences organisations must develop a roadmap before integrating AI into their operations. Working out the tools that they could use, upskilling their workforce to work with AI, and ensuring they have sufficient data to create personalised treatment plans can help to mitigate biases and build generative AI-compatible IT infrastructure.
Bridging the Skills Gap in Connected Health
Pharma IQ: The report mentions a gap in technical skills such as AR/VR and generative AI. What strategies are life sciences organisations employing to bridge this gap, and how successful have these strategies been so far?
Thorsten Rall: It is encouraging to see that over half of companies see upskilling their current workforce on generative AI as a major focus, while 39% see hiring new generative AI experts as a focus. This new focus on AI and data will allow decisions to be made on insights rather than intuition. Upskilling employees by creating opportunities for learning and development helps organisations maintain a competitive edge when delivering AI solutions in the healthcare industry at scale.
Future Trends and Innovations in Connected Health
Pharma IQ: Looking ahead, what do you see as the most significant trends and innovations in connected health over the next five years?
Thorsten Rall: It is imperative for life sciences organisations to define and articulate their vision for connected health and strive to achieve solutions that will provide their patients with the most value. Once this is determined, designing their digital product offerings to center around this value proposition, ensuring that the design is scalable, secure, and compliant with data infrastructure will be key.
Pharma IQ: How can life sciences organisations ensure they are not only adopting connected health technologies but also maximising their potential for patient care and operational efficiency?
Thorsten Rall: Additionally, clients should be establishing the data ecosystems and tools that are necessary to implement, manage, and learn from these digital tools at a global scale. This is going to be critical to growth over time as technologies like AI and advanced computing are changing the market every day. It will predominantly fall to pharma and medtech companies to establish these solutions within the healthcare ecosystem and build the trust required to maximise adoption. In addition, bridging the talent gap through upskilling and hiring new talent will also ensure that momentum is maintained.
Conclusion
The insights from Capgemini’s "The Connected Health Revolution" report clearly indicate that the life sciences industry is rapidly advancing in its adoption of connected health technologies. With significant growth in market-ready products and a strong focus on leveraging AI and robust data management, the future looks promising. However, challenges such as skill gaps and data interoperability need to be addressed to fully the spotential of these technologies. By continuing to innovate and strategically invest in connected health, life sciences organisations can significantly enhance patient care and operational efficiency, paving the way for a more integrated and technologically advanced healthcare landscape.
Explore the Full Report and Infographic
For a deeper dive into the findings and insights from Capgemini, download the full Capgemini Connected Health Report and explore the Connected Health Infographic.
Related Event: AI for Pharma & Healthcare Conference
Life sciences professionals interested in connected health will find the upcoming AI for Pharma & Healthcare conference highly relevant. This event, taking place from September 24-26, 2024, at the Amsterdam Marriott Hotel, will explore the latest advancements in AI across the pharmaceutical value chain, from drug discovery to supply chain optimisation. For more information, visit the AI for Pharma & Healthcare conference page.
Methodology
The research in the Connected Health Revolution report is based on a targeted survey of 420 industry executives from various biotechnology, pharmaceutical (biopharma), and medtech organisations exploring connected health initiatives with annual revenues exceeding $500 million. In addition, Capgemini conducted in-depth discussions with 15 executives from biopharma and medtech organisations to complement the survey findings. This research serves as an update to the Capgemini Research Institute’s 2022 connected health report, ‘Unlocking the value in connected health’, which assessed the maturity and adoption levels of connected health and explores how biotechnology and biopharmaceutical organisations can manage and grow their connected health portfolios more effectively.