LISLE, Ill., May 4, 2021 /PRNewswire/ -- Molex, a leading global connectivity and electronics solutions provider, and its medical device delivery division, Phillips-Medisize, today announced the results of a global survey of pharmaceutical executives assessing their business strategies, real-life experiences and opinions about the future of digital drug delivery. The findings validate the growing adoption of digitized drug delivery, with a third of those polled already marketing one or more therapies. At the same time, 65% expect most of their companies' drug delivery options to be digitized within a decade.
"It's encouraging to see the groundswell of interest in digitizing drug delivery to improve patient care and produce better outcomes," said Paul Chaffin, president, Medical and Pharmaceutical Solutions, Molex. "The future of pharma lies in the design and development of patient-focused devices that are easy to use and can collect and connect data seamlessly and securely to personalize treatment while driving increased medication adherence."
Molex and Phillips-Medisize commissioned Dimensional Research to conduct The Digital Health and The Future of Pharma Survey in April 2021, polling 215 qualified pharmaceutical professionals representing a range of roles and regions. All survey respondents were stakeholders in a range of digital drug delivery devices designed to provide a variety of patient benefits, such as deliver correct dosages, track usage, interface with diagnostic devices, as well as record and share dose data for electronic medical records or patient reference.
Other findings include:
88% of respondents rank digital drug delivery as "extremely" or "very important" to future plans
Investment interest is driven by patient engagement (60%), competitive advantage (55%), demonstrating better outcomes (54%) and adopting digital health apps (47%)
86% expect COVID-19 to have a long-term impact on patient interest in remote/self-care options
Three in four survey participants report that younger generations are more open to digital drug delivery
Improving Patient Outcomes All survey participants identified opportunities to improve patient care. The top-five areas with the most potential include:
Personalize drug delivery to address patients' specific needs and expectations (57%)
Support more effective dosing schedules (55%)
Ensure more accurate dosing (55%)
Increase adherence to medication regimen (52%)
Allow patients to take medications at home rather than at a clinic or hospital (48%)
When comparing the potential benefits of digital drug delivery to traditional methods, 67% of those polled felt that digitized offerings would yield "dramatically" or "notably better" patient outcomes. In ranking the top three potential business benefits by using digital drug delivery solutions, pharmaceutical decision-makers cited cost reduction of treatment through increased adherence (60%), improved efficiency by targeting labor-intensive behavioral support (54%) along with more efficient and scalable means of providing patient support (53%).
The survey results revealed a common theme: To increase adherence and improve outcomes, patients must come first, and this, in turn, will reduce healthcare costs. The New England Healthcare Initiative (NEHI) cites poor medication adherence as being responsible for $290 billion in "otherwise avoidable medical spending" in the U.S. each year. The NEHI also reports that of the 187 million Americans who take one or more prescriptions drugs, up to half do not take their medications as prescribed.
In terms of the top three therapeutic areas with the most significant opportunities for digital delivery, survey participants cited endocrine/metabolism (64%), respiratory (57%) and inflammatory/immune (52%). However, more than half of those surveyed expect digital drug delivery to improve patient outcomes for many types of drugs.
Overcoming Barriers Despite the positive outlook for the future of digital drug delivery, 96% of the respondents reported adoption challenges, including data privacy risk (40%), high device and connectivity costs (39%), inadequate patient access to the Internet (39%) and regulatory concerns (39%).
Nearly all of those polled identified needs for external expertise to meet emerging requirements, including safe and reliable production of devices (65%), networking and connectivity (58%), data privacy and security (52%), user interface and customer experience (50%), the feedback loop to providers and caregivers (47%) and integration of sensing technologies (42%).
Molex and Phillips-Medisize Molex brings decades of experience in advanced electronics, connectivity and sensor technologies to help transform medical and pharmaceutical solutions. Phillips-Medisize, a Molex company, is an innovative leader in the design, development and delivery of world-class medical and drug delivery device solutions, including the first-to-market FDA-registered drug-delivery device utilizing a connected health system.
About Molex Molex makes a connected world possible by enabling technologies that transform the future and improve lives. With a presence in more than 40 countries, Molex offers a complete range of connectivity products, services and solutions for the data communications, medical, industrial, automotive and consumer electronics industries. For more information, visit www.molex.com.