What is the future of the global sciences industry today as it faces the changing landscape of the marketplace?
In a nutshell, the life sciences industry in the US and the global market is faced with expected hurdles in 2017 stemming from the change of governance, the continuing economic uncertainties, the ever-increasing consumer involvement, the regulatory challenges, plus the continuing pressure for even higher quality and innovative consumer products. This adds to the already existing pressure to reduce costs on research and development (R&D). Now the challenge is to maintain the delivery of quality clinical innovation to meet consumer expectation, and at the same time sustain the cost, pricing, and budget for company gain.
Having these obstacles on the forefront, reconciling cost and pricing pressures with R&D outcomes is next to impossible. Therefore, without the support of evidence-based capabilities to showcase actuarial value, the business is sure to go on a downturn. That’s why intelligent partnerships need to be fostered both from traditional and non-traditional key players.
Advanced and well-thought of partnerships that ensure patient-centered care and consumer satisfaction within the healthcare ecosystem is a must. This will also attract better alliances across the life sciences spectrum and the DataOps providers for advanced innovation capabilities.
This marks a new era beyond the conventional merger and acquisition strategy to a solutions-based approach to partnerships. Having a team with the expertise in handling the backroom is critical to the success of any life sciences business.
With the most comprehensive data and sound tools, safety and transparency is ensured in all facets from health, drugs, devices and equipment, agriculture, pharmaceuticals, biochemistry and the food industry.
The challenges in the constantly changing licensing and regulatory requirements will also be eased out as outcomes-based and value-for-care data are readily made available in real time. This means more participation from patients and consumers as they become primary sources of information. Organizations will have to move in this direction as patients and consumers gain leverage in the decision-making process, who are the recipients of medical treatment, drug therapies, and device applications.
The rules of the game for all stakeholders in the life sciences industry is evolving rapidly be it in biotech, pharma, regulating bodies, private laboratories, and even the academic centers alike. And it is expected that this whole process of shifting gears will affect the whole process of healthcare access from prevention, treatment, and management of diseases. The only logical solution is to embrace the change and to fully adapt to these changes for superior service and sustainable business growth.
For unconventional collaborative efforts and improved data management and analytics, John Snow Labs prides itself from its roster of experts in the medical and healthcare field and its specialists from the DataOps management team.
At John Snow Labs, we already have about 1000 clean and fresh datasets; plus 20000+ researched datasheets that are next in our pipeline. The new Life Sciences Repository is positioned with interesting categories from genomics, devices, drugs and food. They all cover a combination of complex and hard to get datasets, which are kept up to date using our autobots facility.
The plan for the next couple of months is to build another category that will include PubMed and other datasets from research, trials, journals and patents, which are all critical measures needed for an advantageous R&D. Meanwhile, the genomics accelerator will continue to be enriched and populated with valuable datasets.
Brace for the new “norm”, which is about outcomes, value, and capability.