Precision Medicine

For big pharma companies to get ahead they need to start adopting precision medicine. Precision medicine considers a person’s genes, environment and lifestyle to predict which treatment will be most effective. The defining feature of this practice of medicine is the focus on genomic data to design the specific treatment paths, this is the study of how a person will respond to a drug based on their genetic makeup.

By 2025 it is predicted that the precision medicine market will be worth over $85bn dollars, but pharma companies have a long way to go in understanding and adopting this new approach to healthcare early predictions suggest.

Better Patient Communication

The shift in the way companies bring their products to market needs to reflect how patients are taking a greater role in their health. Big pharma companies need to adopt a design-led, solutions-based approach to communications with patients. This means taking a scientific approach to creating clear, rational processes built on discovery, definition, development, and delivery in every aspect of healthcare.

Scientists can use this as a basis for clearer communications, helping to share their expertise with patients and healthcare companies effectively. Research shows that helping to create a more informed patient can improve outcomes and ultimately, quality of life.

Treatment Pathways

Finally, it is no longer enough to just communicate the value of a drug, big pharma companies must critically shape and optimise patient pathways if they wish to enter new markets. Most big pharma companies have traditionally done everything from research and development through to commercialisation themselves. But this model no longer works for many organisations. If they are to prosper, they need to switch from selling medicines to managing outcomes. Even the largest pharmaceutical companies will have to collaborate with other organisations to develop effective new medicines more economically, help patients manage their health and ensure that the products and services they provide really make a difference.