BOSTON--(BUSINESS WIRE)--As pivotal changes in healthcare and drug development gain traction, new analysis from Arthur D. Little (ADL) highlights that all sectors of the industry must evolve their business and operating models in the coming decade.
From genomic treatments to Artificial Intelligence in diagnostics to leaps in curative medicine, the healthcare ecosystem is facing unprecedented change. ADL’s forward-looking assessment is captured in a new Report, “Future Health: How the industry will move from ‘one size fits all’ to ultra-targeted care.”
Several critical shifts are pushing major players across the world to adapt:
- Targeted treatments are changing the way drugs are brought to market, with greater emphasis on patients’ biological make-ups. Already, 22% of drugs currently in development specify a biomarker as criteria for inclusion, according to ADL research.
- ADL projects the global consumer genetic testing market will reach $50B by 2026, leading to an abundance of genomic data that will be available to guide prevention, diagnosis, and treatment.
- Certain chronic diseases will become more curable or treatable, and patients with access to more data will have greater opportunity to prevent or manage their conditions.
- Long-term care will continue to shift away from hospitals, which will in turn move their model from surgeries and long-term chronic care to a physician-led approach to curative therapies, and may lead them to consider onsite device and drug manufacturing.
Craig Wylie, Managing Partner at ADL in the United States, notes: “Incredible advances in genomics and diagnostics are leading to a future that will impact the entire breadth of the healthcare industry. Companies are in the early stages of evolving their approach to clinical trials, commercial models, and care provision.”
“The pace of change and the associated costs will be staggering,” continued Wylie. “The most successful organizations across all segments of the healthcare ecosystem will be those that adapt their business models, rethink their operations, and place an emphasis on collaboration and partnerships.”
To download the Report, please visit: www.adl.com/FutureHealth