Digital acceleration, digital talent and supply chain resiliency are top of mind

Keeping pace with digitization and solving for digital-native talent in the face of increased turnover and portable skills are top of mind in life sciences, along with supply chain resiliency. Technology and digital acceleration due to rising customer and citizen expectations is the highest impact macro trend, followed by changing social demographics, including talent shortages and aging populations. Deglobalization is also impacting their organizations.

A unique driver in life sciences executives’ view of supply chain disruption is the issue of medical sovereignty. Events like the COVID-19 pandemic highlight this lack of medical sovereignty, even among developed economies. To close the gap, national, state and provincial governments invested significantly in repatriating pharmaceutical and biotech production capabilities. This creates opportunities for established players to take advantage of public investment to expand their manufacturing footprint, and for start-ups and mid-sized firms to accelerate growth. Delivery models and methods for rapid design, deployment and licensing of modular manufacturing capabilities are also in high demand.

View key findings from our conversations with life sciences executives in 2022 below, or download the report.

For more insights on macro trends, including social demographics, climate change, deglobalization, technology acceleration and supply chain reconfiguration, read our summary insights .

Top trends and priorities

Top macro trends
  1. Technology and digital acceleration, notably rising citizen and customer digital expectations
  2. Changing social demographics, including aging populations and talent shortages
  3. De-globalization, repatriating in-region a portion of the production of goods and services
Top industry trends
  1. Becoming digital organizations to meet customer / citizen expectations
  2. Assuring data privacy protection / regulatory compliance
  3. Interoperability and standards
Top business priorities
  1. Collaborate across the boundaries of our organization to deliver interoperability inside and outside the healthcare enterprise
  2. Improve the customer experience through compliance to treatment guidance and supporting the patient at home
  3. Harness the power of data analytics to improve business and patient outcomes and reduce cost
Top IT priorities
  1. Optimize operations
  2. Digitize and automate business process across and beyond the value chain
  3. Drive IT modernization and new IT delivery models

say legacy systems are challenging to the successful implementation of their digitization strategy
of executives plan to modernize their application portfolio in the next 2 years
of executives cite cybersecurity and cyberprivacy as a top trend

Digital leaders

Among the 13% of life sciences executives who report achieving expected results from their digital strategies, some common attributes emerge. The table below compares responses to questions from these digital leaders to those from executives whose organizations are still building or launching digital strategies (digital entrants). Learn more about the attributes of digital leaders.

Attributes of digital leaders compared to those building or launching digital strategies (digital entrants)

Common attributes of digital leaders

Digital leaders

Digital entrants

Cite high impacts of digitization on business model 100% 50%
More closely align business and IT 50% 44%
Integrate business and IT operations 50% 25%
Have more agile business models 25% 19%
Cite legacy systems as high-impact challenge 25% 38%
Modernize >20% of applications 100% 13%
Migrate >20% of applications to the cloud 73% 25%