Amid the global COVID-19 pandemic, the Life Sciences (LS) industry faced unprecedented challenges that prompted the accelerated adoption of IT services across its value chain. To ensure business continuity, LS enterprises swiftly embraced virtual ecosystems facilitated by IT services. They have actively adopted digital transformation, leading to a surge in the utilization of emerging technologies such as cloud migration, virtual engagement models for clinical trials and sales and marketing, AI/ML for drug discovery, digital twins for manufacturing, real-time IoT visibility for supply chain, and cybersecurity for connected medical devices. Moreover, LS enterprises are prioritizing provider rationalization and IT rationalization to optimize costs and address pricing pressures.
Although the LS industry has traditionally been slow in adopting IT, enterprises have embarked on their digital transformation journeys by implementing a digital thread to support and foster emerging use cases. These enterprises seek thought leaders and innovation partners capable of guiding them through their transformation endeavors. Consequently, providers are enhancing their capabilities by developing industry-specific tools and accelerators, as well as engaging in LS-specific partnerships and co-innovation initiatives.
In this report, we examine the principal enterprise themes and provide an overview of the general LS IT services market outlook for 2023.
Scope
Industry: LS
Geography: global
Contents
In this report, we examine:
Key enterprise themes that dominated the LS market in 2022
The current market for LS IT services and its projected growth
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