Several industry trends are impacting life sciences.
- Increasing stringent regulation: Recent legislations place tighter requirements on traceability and quality throughout supply chain.
- Growing rink and price pressures: Pharma revenue at risk from patent expiries with pharma giants forced to compete against generics. Meanwhile, the life sciences industry as a whole faces price pressure from payors and governments around the world trying to cut healthcare costs.
- Increasing new market entrants and competition: New and non-traditional life sciences market entrants are on the rice and accelerating NPI and time to market for the industry as a whole.
- Accelaration of digital disruption: Technologies like IoT, AI, and machine-learning will bring innovative therapies faster and with lower costs.
Digital transformation in the life sciences industry is accelerating. Companies are looking to technology to help them drive business continuity, maximize revenue growth, and improve patient outcomes at every step along the value chain.
4th Dimension can help you gain a competitive advantage with technology. You can generate new revenue streams by delivering products as a service or maximize existing product revenue streams with solutions that enable better product differentiation, maximized throughput or faster time to market.