The past year has been a cautious one for life sciences organizations, marked by increases in market and regulatory uncertainty combined with pressure to improve portfolio performance. With organizational changes looming at the FDA and other U.S. governmental agencies and ongoing uncertainty about tariff policies, companies have been challenged to determine strategies designed around flexibility.
As life sciences organizations look ahead to focus on optimizing various business practices and – like so many other industries – implement AI and machine learning to drive efficiency, there will be an increasing need for evidence-based clinical data to support due diligence, global compliance, and unified launch strategies grounded in industry needs.
Current state: Life sciences explores insight-driven business decisions
Data is the new currency for life sciences organizations. However, the sheer volume of available data has increased the complexity of acquiring, synthesizing, and acting upon it.
Sources like drug data, clinical evidence, internet usage, clinical trial data, administrative records, and population health data complicate the life sciences data landscape. Each source introduces new challenges and opportunities.
To properly navigate opportunities and drive better business decisions, life sciences leaders have been seeking fast access to reliable evidence and research for targeted use cases and learning how to broaden their understanding and usage of data opportunities, including:
- Leveraging clinical insights.
- Driving strategy with data and analytics.
- Centralizing resources.
Leveraging clinical insights in drug development
Incorporating clinical insights into life sciences workflows can help enrich the drug development process by helping teams better understand the clinician journey and better discern market needs and existing gaps. These insights are particularly valuable for R&D and market access teams, which often face challenges in these areas. With access to real-world data to unlock value opportunities and vital evidence-based insights on clinical decision-making and pricing strategies, life sciences companies can implement this knowledge across the product lifecycle, from development and launch strategy to supporting post-launch communications.