ISG to Publish Study on Digital Service Providers for Life Sciences Industry
ISG Provider Lens™ report will focus on service providers that can help life sciences companies with regulatory and competitive pressures
STAMFORD, Conn.–(BUSINESS WIRE)–$III #Biopharma–Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining digital service providers focused on the life sciences industry at a time when the industry is under growing pressure to digitize and streamline operations.
The study results will be published in a comprehensive ISG Provider Lens™ report, called Life Sciences Digital Services, scheduled to be released in January. The report will cover a range of digital services available to life sciences companies.
Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
The new report will cover service providers looking to help life sciences companies with increasing competitive and regulatory pressures, said Jenn Stein, partner and global leader, ISG Life Sciences.
“The COVID-19 pandemic and public demand for more effective outcomes are mandating the acceleration of actions needed to better meet care lifecycle requirements and build patient-centric business models,” she said. “In addition, life sciences companies are being compelled to comply with new regulations, deal with new competition, integrate waves of competitive mergers and acquisitions, and adapt to the needs of an aging population.”
ISG has distributed surveys to more than 60 technology and service providers serving the life sciences industry. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services and products the typical enterprise client is buying in the life sciences space, based on ISG’s experience working with its clients. The five quadrants are:
- Clinical Development Digital Transformation Services, assessing how service providers help biopharma companies accelerate the process of developing and bringing products to market. Service providers support compliance checks and patient safety reporting while offering complex regulatory intelligence. They also improve the clinical design process with collaboration platforms.
- Patient Engagement Digital Transformation Services, analyzing service providers that focus on life sciences customer services using supporting processes and platforms. Electronic enrollment and patient monitoring are done via connected sensors at home or in care facilities. In addition to enhanced enrollment and participation in clinical trials, improved patient engagement helps ensure compliance with therapies and reduces drop-out rates. Digital medicine is also an emerging area, with broader use of smart pills and wearables.
- Pharmacovigilance and Regulatory Affairs Digital Transformation Services, covering service providers that focus on life sciences services that support patient safety monitoring and reporting, compliance with global and local regulatory requirements, and reporting via processes and platforms. While there is already a successful history using AI to support some aspects of these activities, the growing confidence in natural language processing and machine learning among life sciences enterprises has opened additional opportunities for innovation and efficiency.
- Manufacturing Supply Chain Digital Transformation Services, assessing service providers that work with their life sciences customers to improve the manufacturing supply chain. Manufacturers use sensors for monitoring equipment health and predicting maintenance needs to reduce downtime. Appropriate analytics and AI are required to move inventory quickly to the desired location. Blockchain helps maintain the chain of custody that is important in life sciences.
- MedTech Digital Transformation Services, focused on service providers that support MedTech companies in their journeys to use digitization for product development, engineering, production and logistics. Major functional areas that are considered in this quadrant are product lifecycle management, engineering services, logistics and distribution, and maintenance and repair.
The report will cover the global life sciences market, examining in depth the products and services available in the U.S. and Europe. ISG analysts Rainer Suletzki and Frances Grote will serve as lead authors of the report.
A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as life sciences technology providers can contact ISG and ask to be included in the study.
All ISG Provider Lens™ evaluations now feature new and expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Germany, Switzerland, the U.K., France, the Nordics, Brazil and Australia/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Will Thoretz, ISG
+1 203 517 3119
Erik Arvidson, Matter Communications for ISG
+1 617 755 2985