There is a constant change in Life Sciences industry dynamics especially in terms of handling the ever growing data, using modern cloud technology, implementing agile business models and alignment with the compliance standards. Here are some of the Lifesciences Tech trends that are predicted for this 2017.
1) Cloud to manage Ever-growing Data
The growing volume of data is one of the major concerns amongst the Life science players. There is a constant need to manage and optimize this vast data into actionable information in real time and this where cloud technology will give the agility required to achieve this. Life sciences will continue to shift to cloud to address the inefficiencies and streamline and scale their operations.
2) Analytics to gain importance
Data is the key driver for any Pharma or Lifesciences organization and will determine the way drugs are developed and brought to market. The data are generally distributed and fragmented as clinical trial systems, databases, research data, physician notes, hospital records, etc and analytics will aid to a great extent to analyze, explore and curate these data to realize real business benefits out of this data ecosystem. Year 2017 will see a rise in trends like Risk analytics, Product failure analytics, drug discovery analytics, supply disruptions predictive analytics and Visualizations.
3) Lifesciences and HCPs will now go Digital for interactions
There was a time when online engagements were just a dream due to limitations in technology and regulations. Embracing a digital channel will open up faster mode of communication amongst Lifescience players, HCPs and consumers. These engagements are not only easy and compliant but are integrated with applications to meet industry requirements. This will also aid life sciences players reach more HCPs and also meet customer’s growing expectations for online interactions
4) Regulatory Information Management will be the prime focus
When dealing with overseas market it is often very critical to keep track of all the regulatory information at various levels. Many a times information on product registrations, submission of content plans, health authority correspondence, source documents to published dossiers etc, are disconnected and are not recorded at one centralized place. So programs that aid in alignment and streamlining of all regulatory activities will gain momentum this year.
To conclude, Daniel Piekarz, Head of Healthcare and Life Sciences Practice, DataArt stated that, “New start-ups will explode into the healthcare industry with disruptive augmented reality products without the previous limitations of virtual reality. As this technology advances the everyday healthcare experience, it will exist on the line between the real world and virtual in what is being called mixed reality.” Thus 2017 will see a paradigm shift in the way technology will revolutionize Life Sciences players’ go-to market leading to early adopters of the above gaining the competitive edge and reaping business benefits as compared to laggards!