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Capturing the $100 Billion
Opportunity for Life Sciences:
Are You a Digital Transformer or
Follower?
Copyright © 2015 Accenture. All rights reserved. 2
Executive Summary
Copyright © 2015 Accenture. All rights reserved. 3
Sources of Commercial Digital Value in Life Sciences
Digital can unlock $100 B in commercial value in the US for life
science companies in three ways: digitizing the customer
experience, digitizing operations, and digitalizing business models.
Source: Accenture Research, 2014. See Research Methodology
Copyright © 2015 Accenture. All rights reserved. 4
Many of our life science clients are digitizing the customer
experience and operations to both increase revenue and decrease
operational costs.
Life Sciences Digital Value Tree for Commercial
Source: Accenture Research, 2014. See Research Methodology
Copyright © 2015 Accenture. All rights reserved. 5
Disrupting the game: shift or control?
Two broad categories of disruptions that have occurred in other
industries are poised to impact life sciences:
1. Shift value within or across
industries.
Digital has both removed intermediaries
within an industry’s value chain, such as
book stores and recruiters, and added
intermediaries, such as stores for digital
music and mobile apps.
2. Change the nature of control
points.
The critical control points for influencing
decisions or actions within healthcare
value chains have also changed. Physical
presence and scale and scope have
ceased to be the sole influencer as digital
technology has promoted the emergence
of new control points—including customer
data, subscriptions and personal, smart
devices.
Copyright © 2015 Accenture. All rights reserved. 6
Digitalized life science business models
Copyright © 2015 Accenture. All rights reserved. 7
The treatment of type 2 diabetes alone has the potential to shift more than $100B in value from
traditional to emerging business models in the US over a 5-year period. An analysis of how
digital disruptions would shift value this value demonstrates the potential for disruption by
incumbents and new entrants:
Digitalized Business Model Potential Impact in Type 2 Diabetes
Provide a substitute for
treatment or medication
86 million Americans are pre-diabetic
$3.8 billion in annual potential savings
Enable the sharing
economy
$400 - 500 million could be saved if anti-diabetic supplies
were fulfilled through sharing among patients
Convert healthy activities
into currency
Increases in medication adherence of only 20% could reduce total
health spending by $1,074 for every person with diabetes,
resulting in total savings of $1.4 billion
Set the standard for
treatment
$1.9 billion could be saved in diabetes-related physician visit
treatment algorithms and remote monitoring
Create new intermediaries
$697 annually could be saved per patient using digital for
diagnosis and treatment = $19.2 billion
Example: Diabetes
Sources: National Diabetes Statistics Report, 2014http://www.cdc.gov/diabetes/pdfs/data/2014-report-estimates-of-diabetes-and-its-burden-in-the-united-states.pdf; General Diabetes Facts, http://jdrf.org/about-jdrf/fact-sheets/general-diabetes-facts;
and Statistics About Diabetes, http://www.diabetes.org/diabetes-basics/statistics., Diabetes Prevention Program Outcomes Study (DPPOS) Highlights,
http://www.endocrineweb.com/professional/meetings/diabetes-prevention-program-outcomes-study-dppos-highlights, Diabetes Care, Volume 36, April 2013, Supplementary Data,http://care.diabetesjournals.org/content/suppl/2013/03/05/dc12-
2625.DC1/DC122625SupplementaryData.pdf. , The Sharing Economy Holds Promise for More Goods to Be Offered at Near Zero Marginal Cost, http://www.entrepreneur.com/article/234541; and Web Black Market in Diabetic Supplies Costs
Government $200m, http://www.thedailybeast.com/articles/2012/03/11/web-black-market-in-diabetic-supplies-costs-government-200m.html, Sokol MC, McGuigan KA, Verbrugge RR, Epstein RS. Impact of medication adherence on hospitalization
Copyright © 2015 Accenture. All rights reserved. 8
Diabetes patient journey: potential digital disruption
Copyright © 2015 Accenture. All rights reserved. 9
Capturing the full value of a digital business
Life sciences companies need to begin taking two major steps today:
1) understand and extract the value from digitized customer experiences and
operations and 2) prepare to capitalize on—and/or defend against—the shift in
value that digital disruptions will create.
5 key actions to capture
the big money by
considering each type of
digital disruption
1. Assess opportunities and risks pertaining to digital substitutes
2. Conduct robust ongoing patient value analysis based
on real-world examples
3. Define “rep of the future” to convey value proposition of
therapies to new intermediaries unbounded by geography
4. Build capabilities to facilitate and engage
with customer communities
5. Develop an ecosystem for
digital currency
Copyright © 2015 Accenture. All rights reserved. 10
The big question: Will your company be a transformer
or a follower?
Accenture’s research shows: digital transformers focus 2X as much of their
digital investments on growth (40%) as digital followers (23%).
Source: Digital Double-Down: How Far Will Leaders Leap Ahead?, http://www.accenture.com/us-
en/Pages/insight-doubling-down-drive-digital-transformation.aspx
Copyright © 2015 Accenture. All rights reserved. 11
Research Methodology
Our analysis of digital benefits is based on 5-year revenue projections for the
entire branded US pharmaceutical market1
, Accenture estimates on marketing
and sales spend in proportion to revenue, and Accenture client experience with
potential revenue generation and cost savings from digital initiatives. The
analysis is a directional estimate of a blended digital benefit for the industry;
taking into account the varying levels of direct sales support and marketing
promotion for pharmaceutical brands based on life-cycle stage (e.g., new vs.
mature). A formal benchmarking study was not undertaken as part of this
analysis.
Our estimates for the impact of digital services on diabetes are based on the
2014 CDC diabetes prevalence figures on the number of diabetics and the cost
for treating diabetes in the US. For each disruption, the impact was calculated
based on the change to the number of patients, visits, or expenses as
described in each section.
1
Source: IMS Health Market Prognosis, June 2013. Total Unaudited and Audited Global Pharmaceutical Market By Region/2012 - 2017,
http://www.imshealth.com/deployedfiles/imshealth/Global/Content/Corporate/Press
%20Room/Total_World_Pharma_Market_Topline_metrics_2012-17_regions.pdf
Copyright © 2015 Accenture. All rights reserved. 12
Contacts and Links
James Crowley
Managing Director, Accenture Strategy, Global Life Sciences Industry Lead
james.c.crowley@accenture.com
Kenneth Munie
Managing Director. Accenture Strategy, Life Sciences Digital Lead
kenneth.r.munie@accenture.com
Benjamin Rhee
Senior Manager, Accenture Strategy, Life Sciences
benjamin.w.rhee@accenture.com
Associated Material
•Capturing the $100 Billion Opportunity for Life Sciences: Are You a Digital
Transformer or Follower?
•Digital Double-Down: How Far Will Leaders Leap Ahead?

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Capturing the $100 Billion Opportunity for Life Sciences: Are You a Digital Transformer or Follower?

  • 1. Capturing the $100 Billion Opportunity for Life Sciences: Are You a Digital Transformer or Follower?
  • 2. Copyright © 2015 Accenture. All rights reserved. 2 Executive Summary
  • 3. Copyright © 2015 Accenture. All rights reserved. 3 Sources of Commercial Digital Value in Life Sciences Digital can unlock $100 B in commercial value in the US for life science companies in three ways: digitizing the customer experience, digitizing operations, and digitalizing business models. Source: Accenture Research, 2014. See Research Methodology
  • 4. Copyright © 2015 Accenture. All rights reserved. 4 Many of our life science clients are digitizing the customer experience and operations to both increase revenue and decrease operational costs. Life Sciences Digital Value Tree for Commercial Source: Accenture Research, 2014. See Research Methodology
  • 5. Copyright © 2015 Accenture. All rights reserved. 5 Disrupting the game: shift or control? Two broad categories of disruptions that have occurred in other industries are poised to impact life sciences: 1. Shift value within or across industries. Digital has both removed intermediaries within an industry’s value chain, such as book stores and recruiters, and added intermediaries, such as stores for digital music and mobile apps. 2. Change the nature of control points. The critical control points for influencing decisions or actions within healthcare value chains have also changed. Physical presence and scale and scope have ceased to be the sole influencer as digital technology has promoted the emergence of new control points—including customer data, subscriptions and personal, smart devices.
  • 6. Copyright © 2015 Accenture. All rights reserved. 6 Digitalized life science business models
  • 7. Copyright © 2015 Accenture. All rights reserved. 7 The treatment of type 2 diabetes alone has the potential to shift more than $100B in value from traditional to emerging business models in the US over a 5-year period. An analysis of how digital disruptions would shift value this value demonstrates the potential for disruption by incumbents and new entrants: Digitalized Business Model Potential Impact in Type 2 Diabetes Provide a substitute for treatment or medication 86 million Americans are pre-diabetic $3.8 billion in annual potential savings Enable the sharing economy $400 - 500 million could be saved if anti-diabetic supplies were fulfilled through sharing among patients Convert healthy activities into currency Increases in medication adherence of only 20% could reduce total health spending by $1,074 for every person with diabetes, resulting in total savings of $1.4 billion Set the standard for treatment $1.9 billion could be saved in diabetes-related physician visit treatment algorithms and remote monitoring Create new intermediaries $697 annually could be saved per patient using digital for diagnosis and treatment = $19.2 billion Example: Diabetes Sources: National Diabetes Statistics Report, 2014http://www.cdc.gov/diabetes/pdfs/data/2014-report-estimates-of-diabetes-and-its-burden-in-the-united-states.pdf; General Diabetes Facts, http://jdrf.org/about-jdrf/fact-sheets/general-diabetes-facts; and Statistics About Diabetes, http://www.diabetes.org/diabetes-basics/statistics., Diabetes Prevention Program Outcomes Study (DPPOS) Highlights, http://www.endocrineweb.com/professional/meetings/diabetes-prevention-program-outcomes-study-dppos-highlights, Diabetes Care, Volume 36, April 2013, Supplementary Data,http://care.diabetesjournals.org/content/suppl/2013/03/05/dc12- 2625.DC1/DC122625SupplementaryData.pdf. , The Sharing Economy Holds Promise for More Goods to Be Offered at Near Zero Marginal Cost, http://www.entrepreneur.com/article/234541; and Web Black Market in Diabetic Supplies Costs Government $200m, http://www.thedailybeast.com/articles/2012/03/11/web-black-market-in-diabetic-supplies-costs-government-200m.html, Sokol MC, McGuigan KA, Verbrugge RR, Epstein RS. Impact of medication adherence on hospitalization
  • 8. Copyright © 2015 Accenture. All rights reserved. 8 Diabetes patient journey: potential digital disruption
  • 9. Copyright © 2015 Accenture. All rights reserved. 9 Capturing the full value of a digital business Life sciences companies need to begin taking two major steps today: 1) understand and extract the value from digitized customer experiences and operations and 2) prepare to capitalize on—and/or defend against—the shift in value that digital disruptions will create. 5 key actions to capture the big money by considering each type of digital disruption 1. Assess opportunities and risks pertaining to digital substitutes 2. Conduct robust ongoing patient value analysis based on real-world examples 3. Define “rep of the future” to convey value proposition of therapies to new intermediaries unbounded by geography 4. Build capabilities to facilitate and engage with customer communities 5. Develop an ecosystem for digital currency
  • 10. Copyright © 2015 Accenture. All rights reserved. 10 The big question: Will your company be a transformer or a follower? Accenture’s research shows: digital transformers focus 2X as much of their digital investments on growth (40%) as digital followers (23%). Source: Digital Double-Down: How Far Will Leaders Leap Ahead?, http://www.accenture.com/us- en/Pages/insight-doubling-down-drive-digital-transformation.aspx
  • 11. Copyright © 2015 Accenture. All rights reserved. 11 Research Methodology Our analysis of digital benefits is based on 5-year revenue projections for the entire branded US pharmaceutical market1 , Accenture estimates on marketing and sales spend in proportion to revenue, and Accenture client experience with potential revenue generation and cost savings from digital initiatives. The analysis is a directional estimate of a blended digital benefit for the industry; taking into account the varying levels of direct sales support and marketing promotion for pharmaceutical brands based on life-cycle stage (e.g., new vs. mature). A formal benchmarking study was not undertaken as part of this analysis. Our estimates for the impact of digital services on diabetes are based on the 2014 CDC diabetes prevalence figures on the number of diabetics and the cost for treating diabetes in the US. For each disruption, the impact was calculated based on the change to the number of patients, visits, or expenses as described in each section. 1 Source: IMS Health Market Prognosis, June 2013. Total Unaudited and Audited Global Pharmaceutical Market By Region/2012 - 2017, http://www.imshealth.com/deployedfiles/imshealth/Global/Content/Corporate/Press %20Room/Total_World_Pharma_Market_Topline_metrics_2012-17_regions.pdf
  • 12. Copyright © 2015 Accenture. All rights reserved. 12 Contacts and Links James Crowley Managing Director, Accenture Strategy, Global Life Sciences Industry Lead james.c.crowley@accenture.com Kenneth Munie Managing Director. Accenture Strategy, Life Sciences Digital Lead kenneth.r.munie@accenture.com Benjamin Rhee Senior Manager, Accenture Strategy, Life Sciences benjamin.w.rhee@accenture.com Associated Material •Capturing the $100 Billion Opportunity for Life Sciences: Are You a Digital Transformer or Follower? •Digital Double-Down: How Far Will Leaders Leap Ahead?

Editor's Notes

  1. Comments for point one: -Even within a single TA like diabetes, there is over $100B in value potentially shifting from traditional to emerging business models Comments for point two: -Accenture estimates that an average top-25 global pharmaceuticals company can generate up to $170 million in revenue upside and as much as $190 million in savings over five years by digitizing its current models for the customer experience and operations Beyond the value of digitizing the current promotional model, technology revolutions like digital have demonstrated the ability to disrupt industries across multiple dimensions
  2. Accenture estimates that an average top-25 global pharmaceuticals company can generate up to $170 million in revenue upside and as much as $190 million in savings over five years by digitizing its current models for the customer experience and operations
  3. Provide a substitute for treatment or medication (e.g., apps and wearables are used to delay the need for additional treatment and prescriptions) Enable the sharing economy (e.g., patients sharing medical resources and costs) Convert healthy activities into currency (e.g., healthy activities and compliance as a usable currency) Set the standard for treatment (e.g., treatment algorithms and remote monitoring replace individual HCP decisions) Create new intermediaries (e.g., replacing traditional HCPs with on-demand/anywhere services)
  4. Provide a substitute for treatment or medication: $34 billion in annual potential savings if diet and exercise can decrease the likelihood of progression to T2D by only 5% Enable the sharing economy: In the $3,359 billion diabetes medical supplies market, up to $500 million (10%) could be saved if anti-diabetic supplies were fulfilled through sharing among patients Set the standard for treatment: $1.9 billion could be saved in diabetes-related physician visit with introduction of treatment algorithms and remote monitoring to replace HCP decisions Create new intermediaries: The average annual medical expenditures for T2D patient is $7,900. Upwards of $700 annually could be saved per patient using digital for diagnosis and treatment – resulting in total savings of $19.2 billion
  5. Digital transformers recognize days of slow and steady evolution are over Industries that one measured change not experience digital disruptions that shift the landscape over a period of a few years It is clear that radical changed are already making the industry more dynamic and volatile The biggest winners will be those companies that look to lead in digital with a focus on value