Arthur D. Little Publishes New Report On Innovation In Life Sciences

GlobeNewswire (Canada)

LONDON, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Arthur D. Little (ADL) has launched a report on current and future transformation in healthcare, and the effect these far-reaching changes will have on the life sciences and insurance sectors. To asssess that from more than one perspective, ADL and Munich Re, a leading provider of reinsurance, primary insurance and insurance-related risk solutions, have pooled their expertise and recommendations.

The combination of aging populations, changing urban and work environments, technical innovations in data processing and analysis, and current advances in diagnosing and treating diseases will not only dramatically transform healthcare but also our way of living. Healthcare systems and wider society must therefore prepare for these innovations to ensure preparedness and greater resilience.

Disruptive developments such as digitization, far-reaching advances in medical technology, and the latest findings in life sciences interrelate and reinforce each other to an unprecedented extent. Consequently, the report sets out how everyone within the ecosystem needs to collaborate around a common goal – bringing innovations to patients faster and pushing the boundaries of insurability.

Describing the impacts of transformation and providing insights, imperatives and key takeaways for both the insurance and life sciences industries, the report focuses on opportunities in five key areas of healthcare:

-        Digital Health
-        Advanced therapeutics & new paradigms in treatments
-        Power of genes & omics
-        Mental health
-        Pandemic risk

Dr. Ulrica Sehlstedt, Managing Partner, and Global Practice Leader, Healthcare & Life Sciences at Arthur D. Little, comments: “Innovation is driving a revolution at every step of the patient journey. This impacts every player within the life sciences and healthcare industry, including insurance companies. The imperative is on the whole ecosystem to work together to provide positive solutions and mitigate current and future risks, which is why we are delighted that Munich Re has contributed to bring together knowledge, experience and perspectives within this in-depth report.”

Dr. Franziska Thomas, Partner and Head of Healthcare & Life Sciences of Arthur D. Little Germany, comments: “The last two years has seen an enormous acceleration in multiple areas of medicine – and indeed across wider society. The patient journey is transforming to become more personalized and decentralized. As this report explains, it is only through convergence between all areas within the ecosystem that solutions can be delivered to meet the rapidly changing needs of patients.”