Following the pandemic, analytics and AI adoption rose drastically in the life sciences industry. The industry was at the epicenter of the COVID-19 crisis; therefore, pharma enterprises had to scale their businesses and rethink their operational methodologies to navigate the pandemic.
Primary enterprise objectives for analytics adoption are improving productivity, increasing cost efficiencies, and enhancing stakeholder experience. Increasingly, enterprises are realizing the need to modernize their operations to build a resilient supply chain and sustainable business, which has driven thematic analytics investments in areas such as digital therapeutics, Internet of Medical Things (IoMT), and Real World Evidence (RWE).
In this report, we analyze the current state of analytics adoption in the life sciences industry; the impact of analytics on the emergence of new industry-specific themes, advanced analytics and AI use cases, and the characteristics of analytics-focused deals. We also discuss how the pandemic has influenced the traditional workflow of pharma enterprises and how they can harness the value that analytics delivers going forward.
This report examines: