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Digital Outlook: Life Sciences Industry

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Infosys commissioned an independent market research company, Vanson Bourne, to investigate the use of digital technologies and key trends in nine industries. We surveyed 1,000 senior decision makers from business and IT, from large organizations with 1,000 employees or more and annual revenue of at least US$500 million.

The report aims to discover:
a) the surging tide of digital technology adoption in organizations – what is used and where?
b) the promised land of digital technology use, and the hurdles organizations face to get there
c) the biggest disruptive digital trends within the next three years and why organizations see them as vital to future success

The summary here presents the survey results and highlights the digital outlook that will define the life sciences industry strategy over the next three years.

Published in: Health & Medicine
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Digital Outlook: Life Sciences Industry

  1. 1. www.infosys.com DIGITAL OUTLOOK LIFE SCIENCES INDUSTRY …
  2. 2. DIGITAL OUTLOOK LIFE SCIENCES INDUSTRY 2 THE RESEARCH … 1,000 Senior IT and business decision makers were interviewed from organizations, which use digital technologies, with 1,000+ employees and US$500M or more global annual revenue. Survey covered a range of industries, across Australia, China, France, Germany, India, the UK, and the US. The research investigates the use of digital technologies and key trends in nine different industries, namely, automotive, banking, consumer packaged goods, healthcare, industrial manufacturing, insurance, life sciences, retail, and utilities. The study reveals • The surging tide of digital technology adoption in organizations - what is used and where? • The promised land of digital technology use, and the hurdles organizations face to get there • The biggest disruptive digital trends within the next three years and why organizations see them as vital to future success
  3. 3. DIGITAL OUTLOOK LIFE SCIENCES INDUSTRY 3 TOP LIFE SCIENCES TRENDS THAT WILL MAKE MOST IMPACT WITHIN NEXT THREE YEARS … The three trends receiving most mentions, as making a positive impact on the business, show life sciences organizations were mainly placing their bets on mature technologies that could help them improve existing operations rather than emerging or disruptive technologies. 1 Cyber security 2 Cloud 3 Industry collaboration
  4. 4. 4 DIGITAL OUTLOOK LIFE SCIENCES INDUSTRY DIGITAL TECHNOLOGIES THAT LIFE SCIENCES INDUSTRY USES THE MOST … Life sciences companies utilize six digital technologies on average. The most deployed technologies in the industry are: 71% Big data analytics 64% Cyber security 62% Artificial intelligence 58% 3D printing 55% Internet of Things 54% Enterprise cloud
  5. 5. 5 DIGITAL OUTLOOK LIFE SCIENCES INDUSTRY KEY GOALS OF IMPLEMENTING DIGITAL TECHNOLOGIES … For life sciences companies, the most important purpose of implementing the mature technologies was to improve existing business operations. Big data analytics 51% are implementing it to improve existing business operations 45% to solve new business problems 40% to create new opportunities Cyber security 65% are implementing it to improve existing| business operations 46% to solve new business problems 21% to create new opportunities 3D printing 45% are implementing it to improve existing business operations 34% to solve new business problems 52% to create new opportunities Artificial intelligence 43% are implementing it to improve existing business operations 42% to solve new business problems 62% to create new opportunities
  6. 6. 6 DIGITAL OUTLOOK LIFE SCIENCES INDUSTRY THE AREAS THAT ARE ATTRACTING INVESTMENTS ARE… … 86% Technology to achieve greater patient-centricity during clinical trials 67% 59%76% Cyber security 61% …BUT The life sciences organizations feel they need to improve their technologies and skills further to implement the trends to the fullest. Improving business process efficiencies Improving safety of drugs by improving data ingestion, data quality, and including data from mining literature and social media Automation of prework in clinical research
  7. 7. Copyright © 2018 Infosys Limited Your journey to being more digital extends from core modernization to customer delight. To steer through that path purposefully, write to us. … Write to Us
  8. 8. Copyright © 2018 Infosys Limited Thank You … Visit Infosys.com/digital-outlook to find out more about the digital outlook that will be driving the life sciences industry strategy in the next three years.

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