ISG to Publish Report Assessing Providers of Life Sciences Digital Services

Rhea-AI Summary

ISG, a leading global technology research and advisory firm, has launched a research study examining providers offering resources and support to digitally transform companies in the life sciences industry. The study results will be published in a comprehensive ISG Provider Lens™ report, called Life Sciences Digital Services, scheduled to be released in June. The report will cover providers with services for clinical development, patient engagement, and manufacturing supply chain. It will also evaluate providers assisting companies in digitalizing pharmacovigilance, regulatory affairs, and commercial operations. The report aims to help enterprise buyers evaluate their current vendor relationships and potential new engagements, while ISG advisors use the information to recommend providers to the firm’s buy-side clients. The study also highlights the challenges faced by the industry in integrating advanced technologies such as AI, ML, and automation into ongoing processes due to low-quality, outdated, and incomplete data. The report will cover the global life sciences digital services market, and ISG analyst Rohan Sinha will serve as the author of the report.

Upcoming ISG Provider Lens™ report will evaluate providers helping enterprises in the life sciences industry advance research and navigate regulatory complexities

STAMFORD, Conn.--(BUSINESS WIRE)-- Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining providers offering resources and support to digitally transform companies in the life sciences industry.

The study results will be published in a comprehensive ISG Provider Lens™ report, called Life Sciences Digital Services, scheduled to be released in June. The report will cover providers with services for clinical development, patient engagement, and manufacturing supply chain. It will also evaluate providers assisting companies in digitalizing pharmacovigilance, regulatory affairs and commercial operations.

Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

Advanced technologies such as AI, ML and automation play prominent roles in the drive to digital transformation for companies in the life sciences industry. Yet these technologies’ seamless integration into ongoing processes faces challenges due to low-quality, outdated and incomplete data. The industry grapples with data-centricity challenges in R&D, and needs to address data quality issues, particularly in master data management and governance.

“Life sciences companies need to innovate at scale to enhance the efficiency of new business models that include AI-based solutions. Yet innovation costs have surged exponentially,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Leading life sciences companies increasingly turn to external providers for expertise, bandwidth and technological guidance. “

ISG has distributed surveys to more than 135 providers of life sciences digital services. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the typical life sciences digital services enterprises are buying, based on ISG’s experience working with its clients. The five quadrants are:

• Clinical Development, evaluating providers of technology for patient recruitment, data collection, monitoring, analysis and regulatory compliance. Providers integrate innovations such as AI, big data analytics, mobile health applications and electronic health records to overcome the daunting expenses and elevated failure rates inherent in clinical trials.

• Patient Engagement, assessing providers specializing in life science customer services, utilizing digital tools such as mobile applications, wearable devices, telehealth platforms and online portals to facilitate seamless communication between patients and healthcare providers to improve health outcomes, enhance patient satisfaction and contribute to a more efficient and effective healthcare delivery system.

• Manufacturing Supply Chain, covering providers adopting digital technologies such as IoT, AI, blockchain and advanced analytics to enhance efficiency, visibility and agility across the entire supply chain, from raw material procurement to pharmaceuticals and medical device production, quality control and distribution.

• Pharmacovigilance and Regulatory Affairs — Digital Evolution, evaluating providers supporting patient safety monitoring, adhering to regulatory requirements and facilitating reporting through diverse processes and platforms leveraging AI, NLP and ML.

• Commercial Operations — Digital Evolution, assessing providers driving the digital evolution of life science commercial operations, including data analytics, customer engagement, supply chain optimization, and personalized medicine, embracing technologies such as AI, IoT, and data-driven insights.

The report from the study will cover the global life sciences digital services market. ISG analyst Rohan Sinha will serve as the author of the report.

A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as life sciences life sciences digital services providers can contact ISG and ask to be included in the study.

All 2024 ISG Provider Lens™ evaluations feature expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.

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 Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

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.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240202777502/en/

Press:

Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com

Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What is the ISG Provider Lens™ report about?

The ISG Provider Lens™ report is about evaluating providers offering resources and support to digitally transform companies in the life sciences industry.

When will the Life Sciences Digital Services report be released?

The Life Sciences Digital Services report is scheduled to be released in June.

What are the main areas covered in the report?

The report will cover providers with services for clinical development, patient engagement, and manufacturing supply chain. It will also evaluate providers assisting companies in digitalizing pharmacovigilance, regulatory affairs, and commercial operations.

Who will benefit from the information in the report?

Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements, and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

What challenges does the industry face in integrating advanced technologies?

The industry faces challenges in integrating advanced technologies such as AI, ML, and automation into ongoing processes due to low-quality, outdated, and incomplete data.

Who will be the author of the report?

ISG analyst Rohan Sinha will serve as the author of the report.