Big Data Potential: Opportunities in Life Sciences

Big Data Potential Opportunities in Life Sciences As industries race to grasp the full potential of big data, the life sciences industry is poised to benefit in a big way. The combination of analytics, science, data, and technology is causing significant changes to this data-rich industry. Pharma's Areas of Focus Big data presents big opportunities for innovation in pharmaceuticals. IT leaders in the industry see the most potential in 2 key areas: 00% 41.2% Drug discovery, development 26.5% Understanding the market 14.7% Personalized medicine 75% 25% 8.8% Pharmacovigilance Business development and licensing opportunities 5.9% 2.9% Other 50% BIG DATA AND DRUG DEVELOPMENT +145% From development to FDA approval, Big data strategies for clinical trials will the average cost of a prescription help speed up data processing, reduce drug is $2.6 billion-a 145% increase costs, and bring innovative drugs to from 10 years ago. market faster. Genome Data: On the Rise Current trends show that genome data usage is increasing. REDUCED PRICE OF WIDER MOVEMENT TOWARD A SINGLE GENOME: VALUE-BASED MODELS IN HEALTH CARE SYSTEMS From $100 million in 2000 to -$1,000 in 2014 () DEVELOPMENT OF LARGE-SCALE IMPROVED COMPUTATIONAL MACHINE LEARNING METHODS POWER As genome data makes its way into routine clinical practice, new methods of data storage and transfer are needed. A single human genome requires approx. 200 gigabytes of raw storage. (SIZE MAGNIFIED x100 FOR VISIBILITY) (-- Sequencing 1 million human genomes would require approx. 200 petabytes. (1 PETABYTE = 1 MILLION GIGABYTES) SHIFTING FOCUS FROM TECH TO SCIENCE For $25 per year, Google will store a human genome in a cloud platform, helping the life science community organize the world's genomic data. Not Without Privacy 3 WAYS TO & Security Risks REDUCE THE RISKS With so much data comes tremendous risk. From NO 1 data collection through to application, cyber threats unique to life sciences include: Develop oversight frameworks NO 2 PROTECTING INTELLECTUAL EXPORT/IMPORT PROPERTY AND LICENSES Implement mechanisms for PROPRIETARY INFORMATION ENFORCEMENT personal accountability NO 3 VARIOUS IMPLICATIONS HACKING DATA TO Enact national and OF GENOMIC THEFT MODIFY OUTCOMES regional laws/policies The Wave of the Future Predictions paint a promising picture for the future. New big data analytics technologies will further drive insights into: PATIENT TREATMENT RESEARCH AND BEHAVIOR COSTS DEVELOPMENT PROJECTED GROWTH IN THE LIFE SCIENCES SECTOR 2014-2018: 5.2% 2013: 2.8% 2013 2014 2015 2016 2017 2018 Big data is giving companies powerful tools and invaluable insights to revolutionize the life sciences industry. SOURCES: AAAS, DELOITTE, EIU, MEDIUM, COLUMN Infosys y THOMSON REUTERS, TUFTS CENTER FOR THE FIVE STUDY OF DRUG DEVELOPMENT, WIRED UK