Future Headlines for the Life Science Industry
The Life Science industry thrives on innovation that delivers products to improve the human condition. So, what new trends or developments can we expect in the next few years?
Patient-centricity involves patients in their treatment and care, allowing them to take an active role in their health. It consists of creating a comprehensive digital profile of the patient from various sources to deliver diagnoses and determine treatment.
Decentralized Clinical Trials
Clinical trials are the lifeblood of the life science industry. Companies in the U. S. have embraced decentralized trials, using new digital technologies to collect and analyze data. For decentralized trials to succeed, transparency and security are essential for participants to trust the process. These technologies must be able to capture data from all available sources and add classification and categorization so it can be effectively stored, searched, and retrieved by people who need it.
Automation in R & D is a trend that will accelerate. The combination of digital process automation, AI learning, and content services represents a significant shift in research conduction. Experts predict intelligent automation will expand in areas such as manufacturing, quality, and commercialization.
Cloud-based digital ecosystems are driving a significant portion of the new business value. Additionally, partnerships and outsourcing relationships have expanded, where manufacturers work more closely with contract specialists and competitors. There must be a renewed focus on tech transfer for this trend to work. It must be fast, efficient, and secure to meet accelerated product development cycles. Data must be integrated and harmonized to flow efficiently in these ecosystems.
Convergence (companies in two or more industries combining in some manner) is overdue for Life Science organizations. Driven by technology and external challenges, it takes advantage of unique industry expertise to deliver distinctive products and services to consumers.