2014 Global Life Sciences Insights Report
This article is an extract of a whitepaper on the results of a global survey on the current trends & challenges of the Life Sciences industry
|Laurent Labrune Chief Executive Officer Cegedim Relationship Management firstname.lastname@example.org||Drew Bustos Vice President, Global Communications Cegedim Relationship Management email@example.com|
From a global view, the Life Sciences market has rounded the proverbial bend in the road. The once new pressures – patent expiration, new healthcare environments, generic drugs, increased regulation, emerging markets and the global economy – are now commonplace.
These elements now represent tenets of the new reality that governs every day in the current transformed environment that requires fresh mindsets, dynamic business models, and highly responsive strategies to achieve today’s new brand of success. Pharmaceutical, biotechnology and medical device organizations are now on the other side of a market that’s gone through a transformational experience.
Being that enterprises throughout the industry have had no other choice than to adopt this new reality, how has it shaped their perceptions and business operations? What targeted changes are manifesting themselves at current companies? Who are the groups that are driving these changes? How do companies measure themselves in regards to the innovation journey? What are their perspectives on next generation trends—including social media, mobility and multichannel engagement strategy – and how are they impacting their business model?
Cegedim Relationship Management recently engaged key decision makers from leading global Life Sciences enterprises to address these critical questions. In November of 2013, decision makers completed an online survey to offer new insights on the current state of the industry across global markets.
This year finds many companies at a crossroads. A portion of those surveyed are embracing the change that has befallen the global industry, while others are showing signs of indecision, even resistance, to new trends shaping the landscape. Respondents have illustrated the shape of change at their respective enterprises. They have voiced pain points about the changing business model – highlighting the greatest change being an increased focus on market access strategies. According to those surveyed, the team that is driving these changes is executive management for both business model and technology.
Survey respondents of 2013 were quick to voice their preferred social media channels and how they are impacting sales and marketing budgets. Judging from the results, companies appreciate the increasing value of a multichannel engagement strategy, but have yet to implement it at their companies. As Cegedim Relationship Management continues to add to its portfolio of global thought leadership white papers, this report reflects the industry’s most relevant voices and highlights pivotal developments, current strategies, and emerging technology trends.