TECH BUYER Feb 2019 - IDC Perspective - Doc # US44806317

U.S. Life Science Top 10 Market Trends for 2019

By: Alan S. Louie, Ph.D.Research Director, Life Sciences, Michael TownsendResearch Manager, Life Sciences Commercial Strategies

Abstract

This IDC Perspective identifies several major trends that we believe will impact life science companies in 2019.

"Digital transformation in life science is becoming a core trend spanning the entire industry life cycle with an ongoing focus on operational excellence and continually improving business outcomes. More effective use of data across the increasingly expanding enterprise and embrace of the patient as a partner/key stakeholder are increasingly becoming norms. 2019 will continue to deliver measured advances across the industry, including active embrace of technological innovation where a clear value proposition is present, 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 continue to invest in digital transformation on an enterprise level and as a key strategy in specific use cases built on access to many sources of data, both internal and external to company operations. In areas as varied as medication adherence, supply chain transparency, and orchestrated provider engagement, companies are taking advantage of established digital avenues such as cloud computing and data storage, advanced mobile devices, IoT, AI, and analytics to streamline operations, simplify work, and reduce redundant and less relevant communications. Safety and quality, which remain paramount for life science companies, will be further enhanced by real-time insights from new data sources," according to Michael Townsend, research manager, IDC Health Insights Life Sciences Commercial Strategies.


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