The life sciences business is facing several challenges as it enters the digital age. As the revenue from drugs tapers off in markets like the United States, and the slowdown in emerging market economies impacts drug sales, the pharmaceuticals industry is faced with the prospect of tepid growth. Patients too are demanding a greater say in treatment and care. Life sciences organizations are turning to digital technology to overcome these challenges.
According to the industry respondents, improving cyber security, using cloud-based technologies, and fostering industry collaboration are the top trends which will make a positive impact on their organization within the next three years.
The top three digital technologies being used by the life sciences companies are: