New Research

Summary

This IDC study discusses how digital transformation accurately characterizes the life science industry's ongoing efforts to transform itself as it seeks to find new paths to innovation, optimize operational efficiency and effectiveness, and regain long-term sustainability. As in other industries, the digital transformation journey begins with a common definition of the mission, strategic priorities, and programs so that individual projects or use cases can better align with a life science company's overall goals and objectives.

"Digital transformation continues to transform patient and HCP engagement and fuel innovation in the life science industry. With the increasing adoption of newer technologies such as federated learning platforms, prescription digital therapeutics, and the metaverse, including AR, VR, and MR, it is essential to have a clear understanding of the digital taxonomy for life sciences and to be cognizant of the use cases where these disruptive technologies are being applied," says Dr. Nimita Limaye, research VP, Life Science R&D Strategy and Technology, IDC Health Insights.

"Digital transformation in the life science industry is moving forward rapidly. 3rd Platform technologies such as cloud, mobile, big data and analytics, and social data are already woven into the life science commercial arena. Emerging technologies like AI and RPA are accelerating productivity for commercial teams by maximizing message impact and relevance while reducing duplicate or confusing interactions with HCPs. In life science supply chains, IoT networks and platforms are enabling tracking and monitoring of sensitive and rare biologic drugs, allowing rapid deployment to patients in critical need around the globe. From the manufacturing floor to doctors' offices, digital technology is improving quality, efficiency, and patient experience," says Michael Townsend, research director, Commercial Life Sciences, IDC Health Insights.

Summary

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

"The 2024 worldwide healthcare industry predictions show that the industry is at an inflection point, being driven largely by the need to master AI everywhere and the drive to automate, while there continues to be a growing emphasis on sustainability and governance to build resilient systems that can adapt to evolving challenges," says Mutaz Shegewi, research director, IDC Health Insights. "The healthcare industry is not just navigating challenges but seizing opportunities for sustained growth. As the healthcare industry finds itself at the nexus of enduring, interconnected challenges and opportunities, traditional models are giving way to innovative paradigms demanding not just reactive measures but proactive strategic investments in technology and human capital. The imperatives for rapid action and strategic foresight have never been more pronounced as the industry landscape continues to evolve in complex, interlinked dimensions."

Summary

This IDC study discusses the top 10 predictions for the life sciences industry for 2024.

"'Reinvent' is very much the new tagline for the life sciences industry. The 2024 worldwide life sciences industry predictions focus on how the life sciences industry is reinventing itself by embedding 'as a service' and 'by design' strategies in its business models, leveraging GenAI to reimagine business processes, and weaving in intelligence and 'hyper-personalization' every step of the way," says Dr. Nimita Limaye, research VP, Life Sciences R&D Strategy and Technology at IDC Health Insights.

Summary

This IDC Survey Spotlight analyzes deployment of a number of technologies in selected life science commercial applications and use cases, based on responses in IDC's May 2023 Life Sciences DX Survey.

Summary

This IDC Survey Spotlight analyzes digital transformation (DX) priorities in selected life science commercial applications and use cases, based on responses in IDC's May 2023 Life Sciences DX Survey.

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.