KPMG+生命科學的未來-The future of life sciences 2023

Thefutureoflife

sciences

Pressingissuesandcritical

imperativesthatwillshape

thenewmodelforthe

industry—theconnected

lifesciencescompany.

Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

Foreword

Inmanyways,theresponsetothepandemichighlightedthelifesciencesindustry

atitsbest.ThespeedatwhicheffectiveCOVID-19vaccinesandtreatmentswere

identified,tested,developed,approved,anddeployedonaglobalscaleexemplifiestheartofthepossiblewhenthereisconnectivityacrossallinterests—public,industry,andgovernment.

Today,however,publicperceptionoflifesciencesorganizations–andpharmaceutical

companiesinparticular—haslargelysettledbacktopre-pandemiclevels.Patients,

providers,andpayershavecometoexpectorganizationstoinnovateatafasterpacetomeetemergingclinicalneeds,betransparentaboutdrugpricing,anddemonstrateahigherpurposethanprofits.

Achievingthesegoalsis,ofcourse,complicatedbycurrenteconomicandgeopoliticalvolatility.Somecompaniesarehunkeringdowntoweatherthestorm.Othersare

rethinkingtheiroperatingmodelstoensuretheycanmeetstakeholderexpectations,anticipateandwithstandthreats,andcapitalizeondata-driveninsightstowininthemarketplace.

Inthispaper,weexaminethefourprimarysignalsofchangeimpactingtheindustry

now.Wealsoidentifyfourstrategicimperativestohelporganizationsseizeopportunitiesinthecurrentenvironment.Webelievethosewhomakethemostoftheseopportunitiesnowwillshapethefutureoflifesciences.

?2023CopyrightownedbyoneormoreoftheKPMGInternationalentities.KPMGInternationalentitiesprovidenoservicestoclients.Allrightsreserved.2

Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

What’sinside

3

04

Signalsof

change

15

Conclusion

08

Four

strategic

imperatives

16

HowKPMG

canhelp

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Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

Signalsof

change

Pharmaceuticalcompaniesandmedicaldevicemanufacturersareevolvingtobecomeintegralpartsofthehealthcarevaluechain.Thismeansthatincreasedconnectivityandcommunicationareexpectedbyallstakeholdersfrompayerstoproviderstopatients.Precisionmedicine,digitalhealthproducts,andlifestyletools

thatincorporatemachinelearningandartificialintelligencenowrepresentagreaterpercentageoflifesciences’companies’

portfoliosthantheydidevenafewyearsago.Andwhile

theseconnectivitytrendspromisetoimproveboththepatient

experienceandclinicaloutcomes,theyalsoincreasethepotentialattacksurfaceforcyber-criminals,requiringamuchmorerobustapproachtocybersecurityandprivacy.

Thefollowingsignalsofchangearethekeydriverspushingthelifesciencesindustryintothefutureandmakeupthemostpressingissuesforfirmstoaddressandunderstand.

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Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

Foursignalsofchange

5

1

Precisionmedicinechangesthegame.

Thelifesciencesindustryhasmademajorbreakthroughs

inprecisionmedicine,whichcomprisestreatmentstailoredtoindividuals’uniquegeneticprofilesand,insomecases,

engineersatherapyfromapatient’sowncells.Cliniciansgaininsightintomolecularchangesandpersonalcharacteristics

thatcanunderliediseaseinanindividualpatientand,insomecases,offercuresforpreviouslyuntreatablediseases.1In

onlythelasttwoyears,anumberofnewCAR-TdrugswereapprovedbytheU.S.FDA2,andcompaniesareracingtobuildouttheirmanufacturingcapacitytomeetrapidlygrowing

demand.

Keydriversofprecisionmedicinearemultiomictechnologies,which,intheclinicalsetting,combinegenomics,proteomics,andmetabolomics-baseddiagnosticsintooneholisticpictureofapatient,drawingondatafromthewholebody.Whilenotallclinicaldiagnosticslaboratorieshavetheplatformstodothiswork,theindustryisstrivingtoovercomeaccesschallenges

throughmeaningfulconnectionsbetweendiagnosticsandlifesciencetoolcompanies,testingcenters,andreferencelabs.

Autologoustherapiesrequirea“made-to-order”supplychain,challengingpharmacompaniestoimplementnewcapabilitiesaroundscheduling,logistics,andpatientdatamanagement.Goingforward,theU.S.federalgovernment,throughan

ambitiousprogramledbytheWhiteHouseOfficeofScienceandTechnologyPolicy,hasmadeacommitmenttoincreasingthemanufacturingscaleofcell-basedtherapies10-fold.3

Scalingprecisionmedicinewillrequiremorethanjust

increasingmanufacturingcapacityandfurnishingclinical

labswithnewtechnologies.Itrequiresconnectionand

coordinationacrossavarietyoffunctions:Theadditional

complexityofthesetherapiesincreasestheonusonmedicalaffairsresourcestosupportHealthcareProviders(HCPs).AndcertaintherapiesrequireformalRiskEvaluationandMitigationStrategies(REMS)programs.

Nolongeraspirational,precisionmedicineisrealandis

movinglifesciencesdirectlyintothepatientcarecontinuum.

Asmoretherapiescometomarket,precisionmedicine

manufacturerswillbeevaluatednotonlyontheefficacyof

theirtherapies,butalsoontheirabilitytoseamlesslyconnect

withHCPsandsupportthemincaredelivery.(See“Rethink

theSupplyChain”)

Globalprecisionmedicinemarket

2022:US$83.43billion

2023:US$95billion(CAGRof13.9%)

2027:US$157.26billion(projected)

Source:March2023,PrecisionMedicineGlobalMarketReport2023,6241913.

2

Digitalhealthaltersthelandscape.

Whilethehealthcaremediahasbeentalkingaboutdigital

healthforalmostadecade,lifesciencescompaniesare

onlynowbreathingnewlifeintoexistingtechnologies,

andintroducingnewinnovationsatabreathtakingpace.

Consumersexpectbetter-connectedhealthcareexperiences,whichthesetechnologiesenable.

Historically,healthcareandlifescienceshavelaggedbankingandretailinofferingengagingdigitalexperiences.Enormousbandwidth,extensivesmartphoneadoption,andahighlevelofdigitalfluencyareconvergingtofuelexplosivegrowthindigitalhealthofferings.

GenerationX,Y,andZworkerscollectivelymakeup75

percentoftheworkforceastheBabyBoomandearlier

generationsretire.4Asdigitalnatives,GenerationsYand

Zarethemostlikelytoprefertheconvenienceoftailored

connectedexperiences.Withtheburdenofcostshiftingtotheindividual,patientsaretakingmoreactiverolesintheirown

carewithfitnessdevices,wellnessapps,andeasilyaccessibleinformationonline.Healthcareprovidersincreasinglyexpect

tohaveeasyandconvenientaccesstoinformationand

analysisandtoolstohelpthemconnectwithpatientsand

improvetheirclinicaloutcomes.Withmanyhealthcareprovidersystemsstrugglingfortalentateverylevelandthecostofcare

1Source:JillCollins,“5LeadingHealthcareTrendsFor2023,”Forbes,February16,2023.

2Source:AlexSmith,“ThepromiseofCAR-Ttherapyincancertreatment,”NewsMedical,March21,2023.

3Source:TheWhiteHouseOfficeofScienceandTechnologyPolicy,“BoldGoalsforU.S.BiotechnologyandBiomanufacturing,”March2023.

4Source:MichaelTimmes,“MillennialsAndGenZ:NowIsTheTimeToReshapeBusinessesToHarnessTheirPower,”Forbes,June27,2022.

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Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

6

Artificialintelligenceandmachinelearningareeverywhere.

becomingunsustainable,thepotentialfordigitalhealthtoolstodriveworkflowefficiencyandgeographicalreachiscompelling.

Manywell-fundedstart-upsandtechgiantsarebringingtheirknow-howinconnectedinfrastructure,advancedanalytics,anduserexperiencetothisopportunity.Overthepastfiveyears,manymedicaldevicecompanieshaverebrandedthemselvesas“MedTech”companies.Pharmaceuticalcompaniesare

investingandforgingdigitalhealthpartnershipstosupplementanddifferentiatetheircoretherapiesandhelpimprovequalityofcareandpatientexperience.Whetherfocusedonthecareproviderorthepatient,theplethoraofinnovativesolutions

beingdevelopedallhavethefollowingcriteriaincommon:

engaginguserexperiences,seamlessintegration,securedata,andreal-timeconnectivity.

AsofNovember2022,theFDAhadalreadyauthorizedmorethan520medicalartificialintelligence(AI)tools.5Overthenextfiveyears,weexpecttoseeabroadspectrumofnewdigitallyenabledcareparadigmsthatimproveaccess,enhancequalityofcare,andlowertotalcost.(See“DesignTech-Enabled,

Customer-CentricExperiences”)

DigitalHealthMarket

2022:US$742.7billion

2029:US$4.5trillion(CAGR29%+)

Source:December2022,DigitalHealthMarketSize,Share&TrendsAnalysis,2029,FBI100227.

3

Artificialintelligence(AI)andmachinelearning(ML)have

gonefromnovelexperimentstothetopoftheC-suiteagendaacrossmostindustries.Lifescienceshasbeenaheadofthepack,usingAIinresearchanddevelopmentanddecision

supportlongbeforethecurrentexcitementaboutAI.

MedicaltechnologycompaniesareleveragingMLinthe

developmentofdevicesanddiagnostics,whichhashelped

themrealizeacceleratedcycletimes,reducedcosts,and

improvedquality.Theresultingdevicesareperhapstheareaofconnecteddigitalhealthwiththemostfuturegrowth

potential.Further,usingAIinthedrugresearchprocessis

allowingpharmaceuticalcompaniestoenhancediscovery

andinnovation,connectwithpotentialclinicaltrialparticipantsworldwide,bringtherapiestomarketfaster,andshortenthetimetorealizereturnoninvestment(ROI)onnewdrugs.

AlthoughthepowerofAItodetectpatterns,synthesize

structuredandunstructureddata,andpredictpatientoutcomesisclear,itisimportanttoconsiderthebroadercontext.GettingfullvalueoutofAItoolsrequiresrobustdatacurationandan

evolutionoftheextendedoperatingmodel.Inotherwords,

“becomingdigital”requirestransformationbeyondalgorithmstoincludetheoperationalprocessesandskillsthatcanchange“howworkgetsdone.”

Itisimportanttonotethat,althoughtechnologyadvances

suchasAIandML,aswellassmartdevicesanddigitalizationofthesupplychain,arecriticaltothegrowthandresiliency

oftheindustry,thislevelofconnectivityalsointroducesnewsecurityrisks.Therearebothgovernment-andindustry-ledeffortsadvocatingforincreasedgovernanceandoversightto

ensureAIalgorithmsareunbiased,sensitivepatientdatais

secure,andsolutionsdon’tcreatecybersecurityvulnerabilities.Althoughtrulycatastrophicmedicaldevicebreacheshaveyettooccur,aSeptember2022FBIreportconcludedthatmore

than50percentofconnectedmedicaldevicesinhospitals

havecriticalvulnerabilities.6

Worldwide,regulatorsexpectindustrytoshoreupthe

cybersecurityofAI-baseddevices.InDecember2022,the

U.S.FDApassedalawrequiringmedicaldevicemanufacturerstoincludecybersecurityplansalongwiththeirpre-market

submissions.7AlthoughtheFDAhassaiditwon’tstartissuing“refusetoaccept”noticesrightaway,thelawwillbeinfull

forcebyOctoberofthisyear—puttingpressureonlifesciencescompaniestopreparemorerobustcybersecurityplansto

accompanynewinnovations.For“high-risk”AIsystemsthat

performasafetyfunctionwithinmedicaldevices,thereare

newcertificationproceduresoutoftheEuropeanUnionthat

encompassdatagovernance,recordkeeping,transparency,

accuracy,andsecuritytoearnaCEmark.8(See“DevelopAI

partnershipsforfastertimetomarket”and“ManageCyber

Risks”)

AI’sexpectedimpactonglobal

economy:US$15trillionby2030

Source:AndrewR.ChowandBillyPerrigo,TheAIArmsRaceisChangingEverything,Time,February17.2023

5Source:RebeccaPifer,“Howtechnologywillshapehealthcarein2023,”HealthcareDive,January17,2023.

6Source:September12,2022,UnpatchedandOutdatedMedicalDevicesProvideCyberAttackOpportunities.

7Source:U.S.DepartmentofHealthandHumanServices,March30,2023,CybersecurityinMedicalDevices:RefusetoAcceptPolicyforCyberDevicesandRelated

SystemsUnderSection524BoftheFD&CActGuidanceforIndustryandFoodandDrugAdministrationStaff.

8Source:ElizabethAnneWright,JessicaKoffel,andEdwardTurtle,“FivepotentialEUregulatorychangesimpactingthelifesciencesindustryin2023,”EuropeanPharmaceuticalReview,February7,2023.

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Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

4

Criticalriskspersist:Supplychaindisruption,cyberbreaches,andcounterfeiting.

7

Thepandemicshedlightonthevulnerabilityofthelife

sciencessupplychaintodisruption,whichcausedshortagesofcriticalmedicationsincludingcancerdrugs,sterile

injectableproducts,painkillers,andevenover-the-countercoldandflumedicines.Thenumberofdrugsimpactedbyshortagesreachedapeakof295inlate2022.9Currently,

nearly80percentofactivepharmaceuticalingredients(API)manufacturersarelocatedoutsideoftheU.S.,10highlightingtheU.S.’srelianceonforeignsources,whichcouldposeanationalsecurityriskintheeventofanothercrisisliketheCOVID-19pandemic.

DrugshortagesdidnotstartwithCOVID-19.A2019studyU.S.Senatestudyidentifiedconcerninggapsinsupplychaininsightandthepervasiveinabilitytotracesourcesofsupply.The

abilitytoforecastandavoidormitigateshortagesdependsonaccuratedata.Evenlong-term,loyalAPIsupplierscanprovideafalsesenseofsecurityifmanypharmaceuticalmanufacturersareusingthesamesources.If,forexample,oneofthemis

compromised,itmaybechallengingtofindanalternative

supplier.Therefore,greatertransparencyisneededinto

supplieroperations,whichwillrequiresubstantialinvestmentsindataintegrationanddataprotection.

Lifesciencessupplychainsarealsovulnerabletobothcriminalcyberthreatsandcounterfeitproducts,ashighlightedbytheOrganisationforEconomicCooperationandDevelopment

(OECD)inarecentstudy.11

Onthecyberfront,patientdataheldbylifesciences

companies—aswellashealthcareorganizations—isparticularlysusceptibletocyber-theft,asthisdatapurportedlysellson

theblackmarketformorethanfinancialdata.Compoundingtheproblemistheincreaseddependenceonforeignand

domesticthird-partysupplierswithvaryingdegreesofcybermaturity.Ifthirdpartiesarebreached,theircloseconnectivitytopharmaceuticalcompaniescouldcausemyriadimpacts,

suchas:

Whenitcomestocounterfeiting,theOECDisencouraging

theindustryandregulatorstoimprovecontroloverproduct

distribution.12Intheearlydaysofthepandemic,badactors

seizedtheopportunityofthehugespikeindemandfordrugsandmedicalequipmenttomarketcounterfeitandsubstandardproductsfrommedicaldevicestoineffectivehandsanitizer.

Lookingforward,theissueofcounterfeitproductsislikelyto

bemostacuteinemergingmarkets,13althoughitisamajor

concernintheU.S.aswell.ThefinalphaseoftheDrugSupplyChainSecurityAct(DSCSA),initiallypassedintheU.S.in2013,goesintoeffectinNovember202314andseekstoensure

electronicrecordsandtraceabilityatthesmallestsaleable

unitlevel.Thedataandinsightsgeneratedbytheseefforts

willprovidevaluablebusinessinsightwellbeyondregulatory

compliance.(See“ManageCyberRisks”)

Primecybertargets:

LifeSciences&Healthcare

Priceontheblackmarketforamedicalrecord

~$250USD

Averagefinancialimpactofasecuritybreachonalifesciencesorganization

$7.13millionUSD

Source:PaulNadrag,“IndustryVoices—Forgetcreditcardnumbers.Medicalrecordsarethehottestitemsonthe

darkweb,”FierceHealthcare,January26,2021.

1.Allowingthreatactorstousethethird-partyasagateway

tothepharmacompany’ssystemstointroduceavirusor

accessIPorsensitivepatientdata

2.Drivinglifesciencescompaniestodivertbusinessfroma

breachedsupplier,potentiallyimpactingtheflowofdrug

supplyanddemand

3.Causinglong-termshortagesoflife-savingdrugsifsole

suppliersarecompromised.

9Source:MarinaKopfandCatieBeck,Ascancerdrugshortagesgrow,somedoctorsareforcedtorationdosesordelaycare,NBCNews,May26,2023.

10Source:PhillipeDrechsle,“HaltingEurope’sessentialmedicinesmanufacturingexodus,”EuropeanPharmaceuticalReview,February2,2023.

11,12Source:OECD,April21,2020,Covid-19crisisunderscoresneedtoaddresstradeinfakepharmaceuticals,sayOECD&EUIPO.

13Source:HannahBalfour,“Thelatestonpharmaceuticalcounterfeiting,”EuropeanPharmaceuticalReview,May3,2022.

14Source:U.S.FoodandDrugAdministration,“TheDSCSAImplementationandReadinessEffortsfor2023VirtualPublicMeeting,”December7-8,2022.

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Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

Fourstrategic

imperatives

totakenow

Lifesciencescompaniesseekingtodifferentiatethemselves

fromthecompetitionwouldbewisetoacceleratetheirjourney

towardincreasedconnectivity.“Customers”–comprisingpayers,providers,patients,and,increasingly,employees–expectthesameconvenient,accessible,engagingexperiencesfrominteractions

withlifesciencescompaniesthattheyhavecometoenjoyin

otheraspectsoftheirlives.Whenitcomestoartificialintelligence,thelifesciencesindustryisaheadofmostothers,usingthe

technologytoenhancecriticalfunctionsthathelpbringinnovative,newdrugstomarketfaster.Theneedtomodernizeanddigitalizethesupplychainbecamecrystalclearduringthepandemic,

andlifesciencescompaniesaretakingheedbyfosteringmoredigitalizedprocesses,segmentingtheirsupplychainstosupportnewinnovationslikeprecisionmedicine,andendeavoringto

stayaheadofpotentialdisruptions.Finally,asmentionedabove,upgradingandbolsteringcybersecurityandprivacyprotectionprogramshavetakenonnewweightinthisageofconnectivity,requiringlifesciencescompaniestobringsecurityteamsto

thetableasearlyaspossibleinthedevelopmentofthesenewconnectedcapabilities.

Towininthisnew,highlyconnectedhealthcaremarketplace,lifesciencesfirmsshouldactonthefollowingfourcrucialstrategicimperatives.

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Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

1Designtech-enabled,customer-centricexperiences

9

02Providers

?DoIbelievemypatientwillhaveabetteroutcomeand/orfewersideeffectswiththistherapy?

?Isthistreatmenteasiertodeliver,sustain,andmanage?

03Patients

?DoItrustmydoctor’sadvice?

?Willmyinsurancecoverthistherapy?

?WhathaveIheardaboutthistherapyfromothersources?

Formanyindustries,“customercentricity”hasbeenthe

drivingforceofbusinesstransformation.Retail,consumer

goods,andbankinghavereimaginedtheirbusinesseswith“thecustomeratthecenter,”digitalizingtheiroperationsanddesigningnext-levelconnectedexperiences.Ironically,life

sciences—theindustrythatadoptedcustomerrelationshipmanagement(CRM)technologiestheearliest—isamongthefurthestbehindinputtingthecustomeratthecenterofitsdecision-making.

Formostoftheindustry,thetypicalconceptof“customer”

doesn’tfit.Still,thereisacriticalneedtodeliverintentional,

connectedinteractionstomeettheneedsoftheindustry’s

threekeystakeholders—payers,providers,andpatients(and,

toanextent,regulators).Deliveringagreatuserexperience

requireslisteningtotheuniqueneedsofeachstakeholderanddeliveringtheappropriateproducts,services,andinformationinanaccessibleandsustainableway.

Lifesciencesstakeholdersrequiredifferentiatedexperiences

01Payers

?Doesanewproductsignificantlyimprovetheeconomicswith

comparableoutcomes?

?Doesitoffersignificantlyimprovedoutcomesatahighercost?

?Doesthetherapylowerthetotalcostofcare?

Payercommunicationsshouldbecenteredaroundvalue—notjustforthepayer,butforthepatient

andbroadersociety.Valuepropositionsfornew

products,includingdigitalhealthsolutions,should

besupportedbycompellingdataandinsights.Payersare

interestedinunderstandingwhetherproductsrepresent

improvementsoverexistingofferings,howtheywillimpactthelengthandseverityofthediseaseburden,howcloselycostsarealignedwithvalue,andwhethertherearenewpayment

modeloptions,suchasoutcomes-basedagreements.

TheCentersforMedicareandMedicaid(CMS)intheU.S.haveannouncedthreenewpotentialdrugpaymentmodelsthat

willbetestedbytheCMSInnovationCenter.AllthreemodelswillimpactthepriceofdrugsforU.S.patientscoveredunderMedicarePartD,MedicarePartB,andMedicaid.Thethree

modelsincludethe“MedicareHigh-ValueDrugList,”which

comprisesastandardizedlistofhigh-value,low-costgeneric

drugs;“Cell&GeneTherapyAccess,”designedtoprovide

Medicaidbeneficiarieswithaccesstohigh-costcellandgene

therapiestotreatrareandseverediseases;and“Accelerating

ClinicalEvidence,”whichprovidesmanufacturerswith

incentivestocompleteconfirmatorystudiesforaccelerated-

approvaldrugsinatimelierfashion.15

15Source:S.LawrenceKocot,TraceyMcKutcheon,andRossWhite,“CMSannouncesmodelconceptstoreduceprescriptiondrugcosts,”KPMGCenterforHealthcareRegulatoryInsights,February17,2023.

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Signalsofchange

Fourstrategicimperatives

Conclusion

HowKPMGcanhelp

10

Healthcareproviders(HCPs)areundersignificant

stressdueto:ahangovereffectfromthepandemic;significantstaffshortages,particularlyamong

nurses;inflationandsupplychaindisruptions;and

increaseddemandsfrompatientsandhealthcaresystems.

LifesciencescompaniesshouldbemindfulofthesestressorsandensurethattheproductsandservicestheyofferlessenHCPs’burdeninsteadofaddingtoit.Further,since70

percentoftoday’sHCPsaredigitalnatives,16traditionalsalesrepresentativeandmedicalscienceliaison(MSL)support

modelsarebeingusedlessofteninfavorofconnected,

ongoingdigitalinteractionsthatcanbedeliveredonproviders’preferredtimelines.

Therapeuticbreakthroughsareoflittlevalueifthehealthcare

systemdoesnothavethecapacitytodeliverthem,solife

sciencescompaniesshouldconsiderwhetherthesolutions

theybringtomarketeaseoraddtothestrainonhealthcare

systems.Forexample,withHCPsconsideringpracticing

precisionmedicine,lifesciencescompanieswouldbewell

advisedtoprovidesupportforthecomplexcompanion

diagnosticsandriskevaluation/mitigationstrategiesinvolved,

lestdeliveryrequirementsbecomesogreataburdenthat

treatmentsneverreachthepatients.Similarly,digitalhealth

solutionsshouldstreamlineHCPcarecoordinationand

connectivitywithpatients,asopposedtofunctioningas

bottlenecks.

Patientsneedtobeatthecenterofalllife

sciencesdecisions—whetherindividualsare

highlyknowledgeableabouttheirdisease,thirsty

forknowledge,oronlyfocusedonaccessto

medication.Developingapatientjourneymapisaneffective

waytounderstandthepatientexperience.Whilemuchofthatexperienceliesinthehealthcaredeliverydomain,lifesciencescompaniesshouldpositionthemselvesasaconduitbetweenhealthcareprovidersandpatientstohelppatientsmanagetheirhealthandensuretheyhaveexceptionalcareexperiences.Forexample,pharmaceuticalcompaniescanoffercompanionappsdesignedtoimprovepatienthealthhabitsthroughserviceslikegamificationandreal-timehealthindicatormonitoring.

Further,increasinglysophisticatedsmartdevicesare

empoweringpatientsandcaregiverstoconnecttoeachothertobettermanagechronicconditionsandimproveoverall

wellness.Smartwatcheshavebeenpromptingusersto

increasetheirphysicalactivityforyears.However,morerecentimprovementsinsensortechnologyallowthesedevices

toassesssleepquality,detectheartbeatirregularities,andmonitorhighbloodpressure,withpromisingfuturefeaturesthatincludebloodglucosetesting.17

Connectingallthesestakeholders,weseeatrendtoward

platform-basedecosystems(PBE)thatofferomni-channel

experiencesallowingreal-timetroubleshootingbetween

manufacturersandclinicians,tailoredcontentdelivery,

personalizedproductsandservices,tele-healthservices,andpatientsupportthroughpatient-advocacygroups.Specifically,omni-channelhasexpandedascustomersexpecttouchpointsacrosssocialmedia,email,video,portals,chatbots,forums,phone,forms,andface-to-faceencounters.Examplesof

transformingchannelsincludeAI-enabledchatbotsthat

supportpatientscreeningpriortophysicianassessment,

basicchatFAQhandling,andaddressingprocedurebacklogs

byseparatingcarepathways—suchasthoserelatedto

COVID-19—frombusinessasusual.

Don’tforgetthe