The health industry is increasingly using connected objects (IoT) and analysis software (big data) to optimise the effectiveness of medical diagnosis and treatments. Meanwhile, pharmaceutical laboratories continue to invest in R&D and the production of new drugs to fight against generic drugs.
Digitisation of the health sector: IoT and software fast expanding
2016 was particularly significant for the e-health sector. According to the 2016 report of the business consulting firm, Grand View Research, the global health sector will invest nearly $410 billion in IoT (Internet of Things) devices, software and services in 2022, while the value of this market in 2015 was $46 billion.
Several leading pharmaceutical groups have created partnerships with digital technology giants: GSK with Alphabet, Sanofi with Google, or Johnson & Johnson with IBM. Drug manufacturers are thus trying to analyse the results of their molecules on their patients in the clinical study phase and monitor their behaviour.
Pharmaceutical industry: massive R&D and production investments
According to a survey by IMS Health, the global pharmaceutical market should exceed $1,400 billion (€1,230 billion) in 2020, compared with $350 billion in 2015. This increase is driven by the needs of developing countries, in particular for the treatment of cancer, diabetes and contagious diseases.
Pharmaceutical industries are also going to have to innovate or count on biotechs, as their patents expire, since the last golden decade of drug discovery was 1990-2000.