The Association of the British Pharmaceutical Industry (ABPI) has published a road map to accelerate progress on harnessing the power of 'big data'.
The move comes as all parties involved in healthcare find themselves in an exploding bioinformatics and data environment, which many believe will be a key driver for change over the next decade, improving patient care and putting the UK at the forefront of life sciences research.
Ultimately, appropriate assimilation of big data could help both the pharmaceutical and healthcare industries to better overcome some of they key issues they currently face in a number of ways, such as enhancing therapeutic target identification and virtual drug design, or reshaping patient pathways.
Speaking to PharmaTimes World News, Professor Hilary Thomas, Head of Life Sciences Strategy Group for KPMG, which produced the report, said: "We simply cannot deliver the benefits of personalised medicine or understand the value of treatments without better data," and stressed that "getting it right will be critical to achieving the step change we need in patient outcomes without breaking the budget".
"However, we are still in the infancy of this technology - the industry is not yet ready to turn the opportunity into economic value", she noted.
As such, the Association is calling for an integrated effort across healthcare, academia and the pharmaceutical industry to drive forward the big data agenda and maximise on its opportunities.
"No one organisation or sector can address these opportunities alone and, if we are going to leverage ‘big data’ for the benefits of patients, the industry, academia and the wider healthcare system must develop new collaborations and partnerships to tackle the challenges together," said Bina Rawal, Medical, Innovation & Research Director for the ABPI.
The Road Map outlines four key areas of action to help focus efforts over the next four years: raising awareness; building capabilities and capacity; creating sustainable data ecosystems; and accelerating high-value opportunities.