It takes a deep dive to understand how paving the way to new and improved patient experiences within healthcare is vital. Industry challenges and innovations drive the need to constantly adjust to align with current trends. The overall ecosystem is changing and adapting to meet new needs in the patient landscape. According to a report from PWC, there is a new health-economy ecosystem that is very patient focused and has all touch points behind the scenes working together:
As you can see, this is different from the more traditional landscape, which was very linear, with multiple, sequential, disconnected silos. When we look at the new ecosystem, we can see R&D, government, production, and providers are all working together to better serve patients.
The evolution has come about because of a few different factors:
- Better Technology: As mentioned in our post, Opposites Attract: Tech Geeks Meet Life Science Geeks, collaboration between tech and life-science companies is growing. This collaborative approach fits into the greater ecosystem, allowing for a well-rounded product within R&D, to better fit and improve the value chain all the way from the industrial level to patient needs.
- Supply–Chain Management: Focus on supply-chain management at each component is huge. Within an integrated ecosystem, each piece has to be working in sync, de-emphasizing a siloed approach.
- Precision Medicine: As CISION PR Newswire noted, by 2026, the global precision-medicine market is projected to hit $141.70 B.
With the growth of the precision-medicine market, popular emphasis on creating tailored solutions, and widening support for further development, we can see how the pieces easily fit together into the intersectional ecosystem illustrated above.