Upcoming ISG Provider Lens™ report will evaluate service providers enabling digital transformation by life sciences companies for innovation, patient engagement
Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining providers of digital services to the life sciences industry.
The study results will be published in a comprehensive ISG Provider Lens™ report, called Life Sciences Digital Services 2022, scheduled to be released in February 2023. The report will cover companies offering services including transformation of clinical development, patient engagement, manufacturing supply chain, regulatory affairs and MedTech product development.
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.
Life sciences companies are changing their business models to deal with new resource constraints stemming from the COVID-19 pandemic and supply-chain and workforce disruptions. Traditionally conservative industry leaders are pursuing large-scale innovation to keep growing in a fast-changing market. Doing this efficiently requires new, AI-powered solutions that require rapid investment.
Service providers are increasingly important to life sciences companies that seek support to address changing technologies, new ways of working, and rising customer expectations.
“Life sciences companies are not just outsourcing established roles to service providers anymore,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Providers are becoming strategic partners and delivering expert advice on automation, cybersecurity and other technologies.”
ISG has distributed surveys to approximately 90 life sciences digital service providers. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services the typical life sciences enterprise is buying, based on ISG’s experience working with its clients. The five quadrants are:
- Clinical Development Digital Transformation, evaluating service providers that help companies develop products during all clinical phases. These providers deliver technologies to improve efficiency, management, data analysis, regulatory reporting and other functions.
- Patient Engagement Digital Transformation,assessing providers of supporting processes and platforms that allow life sciences companies to engage directly with patients. They help clients use remote monitoring and other technologies in more patient-centric services to improve products and patient outcomes.
- Manufacturing Supply Chain Digital Transformation, covering providers that help companies overcome ongoing supply-chain challenges, including restrictions on movement and changes in reporting requirements. They often using automation and AI to improve supply-chain visibility and production forecasts.
- PVG and Regulatory Affairs Digital Transformation, evaluating service providers that support patient safety monitoring, pharmacovigilance (PVG) and reporting compliance, helping life sciences companies deliver high-quality products under increasing scrutiny by regulatory agencies and consumer watchdog groups.
- MedTech Digital Transformation, assessing service providers that help MedTech vendors use emerging technologies such as IoT, mobile enablement and advanced analytics to digitize product development, engineering, production and logistics.
A report generated from the study will cover the global life sciences digital transformation market and examine available products and services. ISG analysts Rainer Suletzki, Frances Grote and Sandya Kattimani will serve as 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 digital service providers can contact ISG and ask to be included in the study.
All 2022 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.
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