16 Jan The Top 5 Pressures Life Sciences Companies Will Face in 2019
The life sciences industry – encompassing pharmaceutical, medical device, biotechnology, clinical research (CRO), contract manufacturing (CMO), and medical distribution companies – continues to evolve at a rapid pace. As we enter 2019, this will only continue, with companies facing new or increasing industry-related pressures that will create a range of challenges and opportunities. These pressures include:
1. Improving patient outcomes and providing better value.
2. Lowering costs and improving financial performance.
3. Managing specialized talent and providing better employee experiences.
4. Maintaining an innovative R&D pipeline.
5. Complying with rapidly changing government regulations.
Whether an emerging or established business, these pressures will have widespread impact, prompting organizations to transform to address them. We envision that these transformations will take place across corporate functions, R&D, supply chain, and commercial sectors. However, while transformation in the industry is not uncommon, it’s not always successful.
At Navigate, we believe that focusing on experience-led transformation – meaningful patient, customer, and employee experiences – with a clear strategy, will lead to sustainable change and deliver lasting results.
Over the coming months, we’ll be sharing blog posts that will go into greater detail on each of these challenges and how companies can best approach transformations that will result in optimal outcomes. To learn more, please feel free to contact me directly at [email protected] or 484-383-0606.