Over the past decade or more, phrases like “value-based care” and “patient centricity” have evolved to a position of greater weight and significance for the entire life sciences industry. For that matter, once straightforward concepts like engagement or data have advanced to the point where they have wholly dedicated departments, budgets, and strategies.
It’s not just that initiatives have been renamed and rebranded, organizations in the life sciences industry are making deep changes to truly demonstrate their commitment to these ideas.
In this edition of Clarkston’s Life Sciences Trends Report, we explore the 3 areas with the greatest impact to the entire industry.
The Age of the Patient
It’s a given – the patient’s influence is greater than ever. Here, we explore how the patient is changing and how their perception of the industry impacts organizational strategy and capabilities.
A new administration in the United States, new dynamics with payers, and heightened regulatory activity (and focus) on the process for developing, manufacturing, approving, and oh yeah, pricing drugs are undeniably affecting the way organizations approach growth. This section explores what life sciences organizations are doing in preparation for and response to these external forces.
Internal Strategy and Capabilities
As can be expected, organizations are exploring new and innovative ways to leverage internal organization and strategy to best navigate the life sciences landscape. In this section, we explore how life sciences companies are now approaching M&A, outsourcing, and data capabilities to meet the market’s demands.
We also take the opportunity to explore some trends in the industry’s key sectors – contract manufacturing, pharma, biotech, generics, wholesale distribution, and medical device.
Just a few short months into 2017 and most in the life sciences industry would agree – things are changing. Fortunately enough, change and the ability to embrace it is hardcoded into the DNA of the industry. When your success is wholly dependent on your ability to innovate, improve, and yes, change, you quickly become adept at navigating the ensuing complexities.
To learn more, click through to our 2017 Life Sciences Trends Report pdf below. How is your organization embracing changes to the industry? Let us know on LinkedIn, Facebook, or Twitter. Be sure to subscribe to our insights below for more of our perspective on the latest in the life sciences industry.