New Era of Biopharma Product Development to be Fueled by Value Creation, Human Centricity and Industry Change
MORRISVILLE, N.C., Dec. 21, 2021 (GLOBE NEWSWIRE) — Syneos Health® (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released 2022 Health Trends: Insights for Industry Change Agents. From patient-powered design to accelerated integration across the product lifecycle, this year’s Trends report empowers organizations to be catalysts for change by anticipating what’s to come.
Trends for 2022 focus on new models for creating stakeholder value, the importance of prioritizing human relationships at every healthcare encounter and strengthening technology-enabled insights to speed the delivery of life-changing therapies to patients.
“If there’s one through line in this year’s report, it’s this: we are an industry working toward sustainable acceleration,” said Leigh Householder, Managing Director, Omnichannel Strategy, Syneos Health. “The pandemic forced fast-moving innovation, prompting biopharma organizations around the world to validate real-time insights and learnings that are now fueling industry change and value creation.”
New product development models are standing up in incredibly demanding and disruptive times, with healthcare professionals tested by high levels of burnout and the biopharma industry challenged by finding and retaining key talent. Despite these obstacles, there is renewed market dynamism and optimism as we enter the New Year. Notably, the push to improve Diversity, Equity & Inclusion (DE&I) is changing how biopharma engages communities to improve access and how the industry builds organizations and teams.
“The human toll from the pace and scale of disruption demands a re-examination of every aspect of product development. Simplifying the complex for patients, care providers, scientists, customers and every employee is essential,” said Alistair Macdonald, CEO, Syneos Health. “These trends are driving much needed change including exploring new models for enhancing stakeholder value, accelerating digital transformation and advancing DE&I to propel innovation.”
The top 10 trends set to catalyze the year ahead align around key themes focused on Value Creation, Human Centricity and Industry Change.
Value Creation: Ensuring that data and insights flow across the product lifecycle to deliver on innovation’s promise, creating greater value for all stakeholders.
| 1. | Appropriate Acceleration in Clinical Development | |
| Acceleration will be driven by innovative study design and execution, real world data engines, flexible decentralized engagement and dynamic contracting. | ||
| 2. | Engagement Optimization Loop | |
| New commercial models will have two key dimensions: The human and the digital. Omnichannel engagement will be used to amplify critical human interactions and deliver powerful insights on when and how to act most efficiently in all channels. | ||
| 3. | Patient-Powered Design | |
| As the patient voice rises, a long-standing communications gap between patients and those who innovate on their behalf is finally beginning to close. |
Human Centricity: Prioritizing the personal relationships at the core of every healthcare interaction and strengthening them with tech-enabled insights.
| 4. | The Changing Customer Interface | |
| Look for important disruptions in how key stakeholders engage with each other, including a newly hybrid field, changing roles for clinical research associates (CRAs), new paths to recruitment and simplification of the complex. | ||
| 5. | Engaging the Burned-Out Healthcare Professional | |
| A profession that already faced dangerous levels of burnout has suffered even more over the last two years fighting a pandemic, lacking access to patients, a short supply of critical resources and isolation from peers. Engaging them is different now. | ||
| 6. | High Expectations for/from Top Talent | |
| In the span of a year, we went from unprecedented hiring levels across biopharma in response to the urgent need to support public safety, to many organizations being short staffed against changing business priorities. | ||
| 7. | Personal, Tailored and Now Possible | |
| According to a recent benchmarking study by Syneos Health, biopharma leaders on average rate their use of modern customer engagement and omnichannel infrastructure at six out of 10, notably better than prior to the pandemic. In 2022, the transformation accelerates. |
Industry Change: Stepping up to address social policy public health issues head-on, leading by example in a newly dynamic environment for innovation.
| 8. | Urgency for Representation | |
| Advancing DE&I inside biopharma organizations and among stakeholder populations will be a critical strategic priority for the industry in 2022 and beyond. | ||
| 9. | Rx Rep(utation) | |
| Pharmaceutical industry reputation showed an unprecedented resurgence in 2021 – largely due to its rapid response to the pandemic. At the same time, trust in government institutions suffered – leaving manufacturers to fill the void by communicating with scientific rigor and transparency. Maintaining and growing the industry’s reputation will be a key opportunity for 2022. | ||
| 10. | A New Era of Market Dynamism | |
| After years of responding and reacting, biopharma is ready to take bold new steps forward, leveraging new levels of funding, new resourcing models and partners for enhancing asset value, new global centers of excellence – and even new constraints – to advance life sciences innovation. |
2022 Health Trends Implications – Connect with Us to Learn More
About Syneos Health
Syneos Health® (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. The Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. We bring together approximately 28,000 clinical and commercial minds with the ability to support customers in more than 110 countries. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers’ delivery of important therapies to patients.
To learn more about how we are Shortening the distance from lab to life®, visit syneoshealth.com or subscribe to our podcast.
| Investor Relations Contact: | Press/Media Contact: |
| Ronnie Speight | Gary Gatyas |
| Senior Vice President, Investor Relations | Executive Director, External Communications |
| +1 919 745 2745 | +1 908 763 3428 |
| Investor.Relations@syneoshealth.com | gary.gatyas@syneoshealth.com |
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