PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1691685
PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1691685
Key Challenges, Trends, and Changes Transforming the Life Sciences Industry
Owing to constant developments and challenges in the life sciences industry, stakeholders must continue to be adaptable, innovative, and competitive to thrive. Industry leaders must reconsider their strategic positions annually by understanding the main forces behind the transformation, including potential, challenges, and drivers.
This analysis explores the strategic imperatives shaping and transforming the life sciences industry. They are as follows: SaaS evolution provides adaptive intelligence for laboratories CDMOs augment competencies in new modalities, and digital transformation delivers end-to-end partnerships Expanding direct-to-consumer (DTC) genetic testing beyond ancestry testing to multi-pathogenic STIs Uncertainty about trade wars disrupts pharmaceutical supply chains Decentralized clinical trials (DCTs) boost efficiency for CGTs and rare disorders Next-generation sequencing (NGS) and liquid biopsy revolutionize oncology diagnostics Failed clinical trials and shifting market conditions setback biotech innovation ESG initiatives climb to the top of CEOs' strategic priorities Real-world insight (RWI) emerges as a strategic compass point to reimagine commercial strategies CRISPR technology advances biologics R&D