This IDC Perspective identifies several major trends that we believe will impact life science companies in 2018.
"The foundational concepts driving digital transformation, namely operational excellence with a focus on improved business outcomes, are taking hold across the life science industry and beyond. Underlying this vision, the transparent movement of data, information, and knowledge across the expanded enterprise is key to effective advances, and highlighted market trends all reflect this requirement. 2018 will see measured advances across the industry, limited only by the need to maintain the high standards necessitated by strict regulatory oversight," said Alan S. Louie, research director, IDC Health Insights Life Science R&D Strategies and Technologies.
"Life science companies have taken great steps toward digital transformation of their operations. Technologies such as cloud computing, analytics, IoT, and social data have already been widely deployed. The next steps involve using these varied sources of data to detect patterns, which allow life science companies to digest this information to take meaningful action, affecting everything from interactions with patients and HCPs to supply chain optimization. Companies are now looking past the technology and focusing on results and outcomes to improve efficiency, safety, and quality," according to Michael Townsend, research manager, IDC Health Insights Life Sciences Commercial Strategies.