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U.S. Life Science Top 10 Market Trends for 2019

U.S. Life Science Top 10 Market Trends for 2019

This IDC Perspective identifies several major trends that we believe will impact life science companies in 2019. "Digital transformation in life science is becoming a core trend spanning the entire industry life cycle with an ongoing focus on operational excellence and continually improving business outcomes. More effective use of data across the increasingly expanding enterprise and embrace of the patient as a partner/key stakeholder are increasingly becoming norms. 2019 will continue to deliver measured advances across the industry, including active embrace of technological innovation where a clear value proposition is present, limited only by the need to maintain the high standards necessitated by strict regulatory oversight," said Alan S. Louie, research director, IDC Health Insights Life Science R&D Strategies and Technologies."Life science companies continue to invest in digital transformation on an enterprise level and as a key strategy in specific use cases built on access to many sources of data, both internal and external to company operations. In areas as varied as medication adherence, supply chain transparency, and orchestrated provider engagement, companies are taking advantage of established digital avenues such as cloud computing and data storage, advanced mobile devices, IoT, AI, and analytics to streamline operations, simplify work, and reduce redundant and less relevant communications. Safety and quality, which remain paramount for life science companies, will be further enhanced by real-time insights from new data sources," according to Michael Townsend, research manager, IDC Health Insights Life Sciences Commercial Strategies.

Please Note: Extended description available upon request.

Executive Snapshot
Situation Overview
In This Study
Future Outlook
Market Trend 1: Virtual Clinical Trials Move into the Mainstream, Supported by Technology, Patient Engagement Initiatives, and Targeted Trial Designs
Market Trend 2: Real-World Evidence Forges New Paths to Accelerated New Drug Approvals
Market Trend 3: Digital Therapeutics Emerge at the Intersection of Patient Engagement and Improved Patient Outcomes
Market Trend 4: Outside of Patient-Specific Durable Medical Devices, 3D Printing in Life Science Advances Remain Firmly in Discovery Research in 2019
Market Trend 5: Life Science Companies Ramp Up IoT Investment in Patient Engagement with a Focus on Medication Adherence and Beyond
Market Trend 6: Orchestrated Engagement and Personalized Analytics Push Sales and Marketing Effectiveness in Life Science While Benefiting Providers and Patients
Market Trend 7: Pharma Cold Chain Logistics Lean on IoT for Multiparty Drug Quality Control, with Blockchain to Follow as a "Source of Truth" in Chain of Custody
Market Trend 8: DX Moves to the Core of Business Strategies and Operational Excellence
Market Trend 9: Academic Partners and IT Service Providers Become the Core Resource for IT Innovation at Life Science Companies
Market Trend 10: Near-Term ROI and Actionable Insights Drive AI Adoption in 2019
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