Life Science companies are innovating and doing so at an increasing rate; don’t believe the hype to the contrary. I see the development of new business models, products and the expansion of existing products offerings. There has been no more important time to be a part of the Life Sciences Industry? Well publicized and massive epidemiological, demographic, technological and resource transformations are demanding courageous and innovative solutions to continuously maintain, and hopefully improve, health…within budget into the future.
Synchronized to these transformations are innovative and ground breaking models for Research and Development, Manufacturing, Logistics etc. For example:
- Medical Device companies are harnessing technological developments to make real-time and pervasive biometrics a part of patient care to lower costs and simultaneously improve health
- Pharmaceutical companies are using ‘patient engagement’ techniques to explore the entire continuum of care to improve health outcomes. Simultaneously, they are running clinical trials to prove formulary value
- Biotechnologists are bringing into reach personalized medicine to differentially prescribe and treat patients based on an ever widening variety of biomarkers
- New manufacturing techniques and the ability (requirement) to track and trace the pedigree of products are making the global drug supply safer and more available, yield better health and increase revenues
At the same time the global economy is availing new markets, allowing the development and improvement of global health. Working through regulatory, manufacturing, distribution and logistics opens the door for further innovation and business models. Look to this blog to find more about how SAP is improving Global Health
The SAP Life Sciences team looks forward to discussing these exciting developments and other industry specific topics with analysts and colleagues at the SAP Industries Analyst Base Camp to be held on July 10-11th in Newtown Square, PA.