Customers drive priorities and investments

With the shift to digital engagement due to the pandemic, life sciences executives recognize more keenly the powerful role customers play in driving change. Year-over-year, more executives say customers represent the greatest external pressure on their approach to digitization. Additionally, the top trend to become digital for customers is complemented by top business priority to optimize operations and the top IT priority to digitize across the value chain.

Key findings from our conversations with life sciences executives in 2021 follow, or you may download the PDF.

Top trends and industry priorities

Top trends
  1. Becoming digital organizations to meet customer expectations
  2. Protecting data and equipment through cyberprivacy and cybersecurity
  3. Assuring regulatory compliance
Top business priorities
  1. Optimize today’s operations
  2. Harness the power of data analytics to improve business and patient outcomes and reduce costs
  3. Remain compliant with healthcare reform
Top IT priorities
  1. Digitize and automate business process across and beyond the value chain
  2. Drive IT modernization and new IT delivery models
  3. Protect data and assets through cyberprivacy and cybersecurity
73%
have an enterprise-wide digital strategy—a marked increase compared to 30% in 2020
18%
say their digital strategies are producing results—up from just 4% in 2018
87%
plan to invest in analytics to support precision medicine and safer care in the next 3 years

Life sciences industry executives indicate accelerated progress in producing results from digitization strategies, with 18% citing such results. While life sciences digital leaders are growing in numbers in our interviews, sector-specific analysis requires a larger cohort. This table compares responses to questions across industries between digital leaders (those producing results from digital strategies) and those still building or launching strategies. Learn more about the attributes of digital leaders.

Common attributes of digital leaders

Executives producing results from digital strategies

Executives still building/launching digital strategies

Are better at introducing applicable innovation 39% 26%
Are better at aligning IT and business priorities 60% 43%
Modernize more of their applications 37% 26%
Migrate more solutions to the cloud 23% 15%
More often run a secure IT environment 69% 59%
lab technician looking at samples