The evolution of the pharma incubator

Digital health ’s time has clearly come and many big pharma businesses are eagerly trying to harness its opportunities via the incubator model. The change has been seismic. Take the COVID-19 pandemic-driven explosion of the use of telemedicine apps such as Doximity, where downloads increased by 38 times in 2020, along with apps that helped patients stay healthy, mental health apps to manage depression, anxiety or suicidal thoughts, and blood pressure apps.Health-related mobile applications available to consumers on top app stores worldwide now surpass 350,000, with more than 90,000 digital health apps added in 2020 — an average of more than 250 apps per day, according to a July 2021 report by IQVIA .Digital therapeutics are also growing with 250 products now complete,150 of those commercially available, says IQVIA. Digital biomarkers to remotely monitor patient health are also on the rise. At least 438 feasibility studies have examined 933 distinct biomarkers, and 96 clinical trials have used digital biomarkers as endpoints.  The explosion of investment in the sector shows no signs of slowing. In the first half of 2021 investors ploughed $14.7 billion into the sector, exceeding 2020 ’s total of $14.1 billion, itself a breakout year, according to Rock Health.Having already examined pharma incubators ’ achievements thus far, in this second focus on incubators we look at where the model goes next in the light of this breakneck growth.Clearly the incubator model is now ...
Source: EyeForPharma - Category: Pharmaceuticals Authors: Source Type: news