New Research

Summary

This IDC Tech Buyer Presentation identifies the digital transformation (DX) use cases associated with life science strategies and provides guidance on how to prioritize them to develop a DX road map.

Summary

This IDC Survey is designed to provide insight into the supply chain challenges and opportunities companies across the life science industry are facing and their current priorities, the drivers of change in the strategic focus of their supply chains, the impact of the ongoing disruptions, the progression of supply chain transformation, and the use of modern, digital technologies.

Summary

This IDC Survey Spotlight considers short- and medium-term priorities for life science supply chains and related use cases, based on responses in IDC's March 2023 Supply Chain Survey.

Summary

This IDC study provides an assessment of 12 vendors offering strategic consulting solutions for sales and marketing processes in the life science industry. Digital transformation is occurring at a rapid pace in life science companies, including in the sales and marketing space. Internal and external sources of data are being collected in the cloud, and this information is being leveraged by sales and marketing groups to improve speed, efficiency, and effectiveness in reaching customers, including both healthcare providers and patients. Tools such as artificial intelligence (AI), advanced analytics, and orchestration of multiple tasks and roles utilizing data from multiple sources are accelerating change in 2023 and beyond and helping expand the scope of business processes suitable for outsourcing to qualified vendors.

Mike Townsend, research director for Life Science Commercial Strategies at IDC Health Insights, says, "Life science companies are embracing digital transformation efforts within sales and marketing, which can connect stakeholders such as sales representatives, marketing and medical affairs executives, doctors, patients, and payers using a wide variety of digital technologies, including AI, cloud computing, mobile technology, and social media and analytics, and leveraging a host of internal and external data sources. Highly experienced strategic consulting vendors are offering increasingly sophisticated business models for processes leveraging these technologies while allowing these companies to focus on their core competencies. Life science companies will continue to see improved outcomes, growth, and productivity as they free their organizations to focus on core innovation and business cases, using these offerings to improve outcomes for doctors and patients alike."

Summary

This IDC Perspective reviews the industry analyst event recently hosted by Medidata (a Dassault Systemes [DS] company) from November 15 to 16, 2022, in New York. It was addressed by Life Sciences and Healthcare Sector Board Chairman, DS, Tarek Sherif; co-CEOs of Medidata (Rama Kondru and Sastry Chilukuri); and the CEO of Patient Cloud (Anthony Costello), as well as Medidata's leadership, partners, and customers who outlined the new offerings and the strategic road map for Medidata in life sciences.

"As technology adoption continues to scale rapidly in the life sciences industry, the industry and technology providers continue to innovate; pharmas and biotechs are looking for solutions that will drive quality and compliance, accelerate time to market, and weave in both a site-centric and a patient-centric focus. Technology solutions that power decentralized clinical trials, that drive diversity and equity, that improve access, that integrate a risk-based quality management strategy, and that drive interoperability will serve as differentiators and define the pace of innovation for the life sciences industry," says Dr. Nimita Limaye, research vice president, Life Sciences R&D Strategy and Technology at IDC Health Insights.

"Consolidated clinical trial results, augmented by real-world data and patient and provider insights, can help construct rich patient journey experiences that help life sciences companies and healthcare providers find patients who can benefit from innovative therapies and result in improved health outcomes and better knowledge sharing between researchers, medical affairs experts, providers, and patients," says Michael Townsend, research director, Life Sciences Commercial Strategies at IDC Health Insights.

Summary

This IDC Survey Spotlight analyzes trends and deployment plans based on results from IDC's Industry CloudPath Survey (April 2022) and IDC's Life Sciences DX Survey (March 2022). Life science companies are increasingly deploying their revenue management solutions in the cloud.

Summary

This IDC Survey Spotlight analyzes deployment of AI in selected life science commercial applications and use cases, based on responses in IDC's Industry AI Path Survey, September 2022.

Summary

This IDC Tech Buyer Presentation delves deeper into the impact of inflation on healthcare and life science organizations and includes a discussion of the looming recession. Our analysis also offers IDC's outlook on IT spending and global economics sentiments gleaned from IDC's Future of Enterprise Resiliency and Spending (FERS) Survey.

Analysts across IDC Insights evaluated the impact of eight inflation triggers on their respective industries: supply chain constraints, localized labor shortages, raw materials and component costs, salary increases, tariffs and fiscal policy, energy costs, interest rates, and business margins.

"Inflation is leading health and life sciences organizations to prioritize investments in technologies such as cloud, AI/ML, automation, and advanced analytics, which reduce costs; improve efficiency, productivity, and decision making; and address labor shortages and supply chain constraints." — Lynne A. Dunbrack, group vice president, IDC Health Insights

Summary

This IDC study provides executives across the globe with actionable insights and analysis for future healthcare industry scenarios.

"The 2023 worldwide healthcare industry predictions focus on the major storms of disruption for the foreseeable future, big tech flips, and how healthcare organizations can prepare for and respond to them," says Mutaz Shegewi, research director, IDC Health Insights. "Technological strategies and capabilities will determine how healthcare organizations navigate the aftereffects of the global COVID-19 pandemic combined with the impact of everything from inflationary pressures to supply chain constraints, labor and skills shortages, the Russia-Ukraine War, and other geopolitical threats. Healthcare organizations also face escalating cybersecurity risks, shifting care models, and an ongoing need to strive for service excellence while addressing broader, systemic challenges. Opportunities present alongside each challenge; however, healthcare organizations must act quickly because the next five years will prove that the storms are not temporary but lasting and interwoven."

Summary

This IDC study discusses the top 10 predictions for the life science industry for 2023.

"The 2023 worldwide life science industry predictions focus on the explosion of an ecosystem of digital-native innovators. They are powering a precision medicine strategy, fueling the increased confluence between healthcare and life sciences, scaling sustainability by design initiatives driven by the increasing importance of ESG, and focusing on persistent immersive experiences, led by an extreme obsession with 'data centricity' and 'patient centricity,'" says Dr. Nimita Limaye, research VP, Life Sciences R&D Strategy and Technology at IDC Health Insights.

Summary

This IDC Survey Spotlight examines life science digital transformation business drivers for 2022.

Life science companies are investing in digital transformation to improve processes and engagement throughout their business. In IDC's March 2022 Life Sciences DX Survey, respondents rated the importance of business drivers for their digital transformation initiatives in various industry processes and their spending plans for 2022.

Summary

This IDC Survey Spotlight features data from IDC's March 2022 Life Sciences DX Survey, is which respondents rated the importance of health data platforms to their organizations from digital transformation initiatives in various industry processes and their spending plans for 2022. Life science companies are embracing health data platforms in their digital transformation initiatives.