European Life Sciences Companies Look to Enhance Analytics Capabilities
European life sciences companies are significantly boosting their investments in analytics and technology to enhance R&D and patient-centric innovation, as noted in the latest ISG Provider Lens™ report.
The report highlights the industry's focus on digital transformation, with MedTech companies seeking help for digital changes. COVID-19 has accelerated regulatory changes, prompting pharmaceutical and MedTech firms in the EU to adapt.
Leading providers recognized include Capgemini, Cognizant, TCS, and Wipro.
- Increased investments in analytics and technology by European life sciences companies.
- Focus on digital transformation to enhance operational efficiencies and sustainability.
- Growing demand for cloud services and software-as-a-service solutions.
- None.
ISG Provider Lens™ report sees life sciences companies in the region using technology improvements to support a wide range of initiatives, including R&D
The 2021 ISG Provider Lens™ Life Sciences Digital Services Report for
“Digital transformation is key in the European life sciences industry’s ongoing efforts to transform itself and find new paths to innovation,” said
The report sees a growing use of digital technologies in
COVID-19 has been a driving force behind recent and ongoing regulatory changes in
The report finds technology innovations such as improved connectivity, mobile enablement, IoT and AI have changed the MedTech landscape. Medical devices are now an integrated element of the overall data lifecycle, and MedTech companies are looking for providers that offer not only innovation in devices themselves, but also expertise in regulations, cybersecurity and quality and compliance.
The pharmacovigilance and regulatory affairs functions, both areas of technological innovation prior to the pandemic, continue to drive demand for increasingly sophisticated digital services. Leading providers in this space demonstrate strength in using AI, natural language processing (NLP) and machine learning to capture and process information from unstructured data. Providers’ regulatory affairs offerings, meanwhile, use technology to collect and disseminate regulatory intelligence to support smart filings, and to maintain and report on quality and compliance.
In addition, collaborations between traditional IT providers and contract research organizations (CROs), which often include representation from industry and academia, continue to grow as the leading providers in these areas leverage their combined expertise, the report says. The emphasis on improving patient outcomes by combining deep domain expertise with digital enablers is seen among leading providers.
The increased reliance on digital technologies is associated with other trends across the industry, the report says. There is growing demand for cloud services to support the needs of a growing remote workforce and the need for additional computing power. Changing business needs have also elevated the demand for software-as-a-service solutions that can turn large volumes of data into business intelligence.
The 2021 ISG Provider Lens™ Life Sciences Digital Services Report for
The report names Capgemini, Cognizant, TCS and Wipro as Leaders in both quadrants and
In addition, HCL and Tech Mahindra were named Rising Stars—companies with “promising portfolios” and “high future potential” by ISG’s definition—in one quadrant.
A customized version of the report is available from LTTS.
The 2021 ISG Provider Lens™ Life Sciences Digital Services Report for
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
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FAQ
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