At J.P. Morgan’s 41st annual healthcare conference, there was no shortage of innovative discussions. We’ve rounded up some of the biggest themes from this year’s conference:
Connected drug delivery devices are gaining traction among top pharma companies
As medication non-adherence continues to plague the global life sciences industry – more than $600 billion in annual revenue is lost1 – many pharmaceutical companies are evaluating new approaches to improving patient engagement, including embedded sensors that capture data through drug delivery devices. One of the biggest selling points for organizations is that connected drug delivery devices can play a huge role in boosting adherence and compliance. Devices that can detect and capture data around patient-administered therapy, such as dose timing, volume, and technique, have become an increasingly popular choice among leading organizations. Patients are more likely to refill and take their medications on time, and correctly, if they can be prompted to do so and have a record of dosing history.
An industry-wide pivot toward in-home care is escalating
The pandemic quickly reshaped how we deliver care. Global social isolation measures rendered in-home services through telehealth and virtual care platforms a critical alternative to in-clinic primary care. As the world slowly returns to a pre-pandemic normal, in-home care continues to supplement in-person visits, especially given telehealth’s emphasis on patient convenience. Pharmaceutical companies looking to provide a convenient, frictionless experience for patients will need to ensure their products are easy to learn and use under limited clinical supervision, and can remotely capture data signals.
Product differentiation is crucial for leveraging value to all stakeholders, especially patients
In a saturated market filled with generic alternatives for common disease types, product differentiation is more critical than ever. Pharmaceutical companies will not only need to reconsider how their products provide differentiated value to payers and providers, but also consider how to meet and surpass patient expectations. Efficacy alone is not enough – patients are demanding new and improved product benefits, including behavior change coaching and support.
Decentralized clinical trials successfully improve diversity of trial participants and reduce barriers to patient identification and recruitment
When clinical trial patients accurately represent the group of people most affected by a particular disease, the study’s scientific and financial robustness increase, and real-world outcomes improve. Decentralized clinical trials (DCTs) show promise in improving patient diversity in clinical trials.2 Beyond that benefit, DCTs – and, specifically, the digital tools that enable virtual trial execution – improve data reliability while increasing convenience for patients and site staff. Pharmaceutical and life sciences companies will need to leverage the right digital solutions to meet patient expectations and provider demands, comply with new regulations,3 and to continue reaping the benefits of DCTs, including lower costs, more efficient patient identification and recruitment, increased patient participation, and higher retention rates.
Interested in learning more about how Propeller can help your organization integrate connected drug delivery? Email info@propellerhealth.com.
1 Fierce Pharma, 2016. Nonadherence costs pharma $600B-plus in annual sales: study.
2 Chaudhry, et al. 2022. Myths about diversity in clinical trials reduce return on investment for industry. Nature Medicine
3 Bloomberg Law, 2023. Diversity in Clinical Trials at FDA Gets a Boost From New Law