Across the sector, we're seeing the rise of the digital ethos and uptake of transformative technologies. Mergers & acquisitions will continue to grow and new strategic partnerships will shape the market.
The increasing demands and expectations of patients seeking a greater role in their own care, increasing cost pressures from payors leading to calls for pricing reform, and the declining autonomy of the individual physician as rule-based, protocol-driven care becomes ascendant.
With the evolving industrialisation of life sciences, companies need to embrace the exponential changes in technology to change the way they work, conduct research, innovate, manufacture and distribute products, and meet consumer expectations.
With growth comes some uncertainties arising from pricing pressures, value-based contracting, geopolitical climate, and policy changes. New measures are therefore needed to withstand these challenges.
According to a recent report by PwC, pharma & life sciences CEOs state they need to make big moves digitally. Organisations that have the capability to control real-time evidence to illustrate the benefits of products, drive outcome-based results, and engage with patients will succeed. To achieve this, it's a necessity to attract the right skills. However, over half of the industry's leaders are concerned about the availability of digital talent.