2018 Global life sciences outlook
Innovating life sciences in the fourth industrial revolution: Embrace, build, grow
With the arrival of the fourth industrial revolution, the life sciences sector is also taking on the transformative journey that emerging technologies offer. Companies are also preparing themselves for the future by leveraging these technologies to build patient centricity, a cross-functional regulatory approach, data integrity, and the workforce of the future. Strategic alliances and new operating models are also contributing to growth in the sector. However, there exist a few uncertainties arising from pricing pressures, value-based contracting, geopolitical climate, and policy changes but companies are taking measures to withstand these challenges.
This report explores the major trends that are expected to impact life sciences companies in 2018 as they aim at improving their ecosystem, and suggests ways to meet the opportunities and challenges.
Viewpoints / key findings
The report reviews the current state of the global life sciences economy and outlines strategies that will help life sciences companies withstand these uncertainties and thrive in the coming year. It also explores the major trends that will impact life sciences companies in 2018:
- Embracing exponential changes in technology
- Embracing geopolitical change
- Building an adaptable organization for the future of work
- Building a culture of courage to help counter uncertainty
- Building data integrity, maximizing the value of data
- Building patient trust and centricity
- Building a smart, cross-functional regulatory approach
- Growing through partnerships and new operating models