U.S. Life Science Top 10 Market Trends for 2020 by IDC

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This IDC Perspective identifies several major trends that we believe will impact life science companies in 2020.“With digital transformation becoming ubiquitous in the industry, there is an increasing push to drive improved business outcomes. Improved business outcomes is a broad goal and can include improved portfolio management in discovery research, use of digital twins to better predict clinical trial performance, and more systematic evaluation of RWE data in pursuit of accelerated time to market, label expansions, and virtual placebos in place of traditional placebos. 2020 appears set for systematic growth, augmented by blue sky opportunities and the continuing need to maintain the high standards necessitated by strict regulatory oversight," said Alan S. Louie, research director, IDC Health Insights Life Science R&D Strategies and Technologies."Access to data is becoming pervasive in the life science and other industries, through technologies including cloud computing and storage and IoT, and will accelerate with the rise of 5G and edge networks. The ongoing challenge for our industry will be gaining intelligent and relevant insights using advanced analytics and AI," according to Michael Townsend, research director, IDC Health Insights Life Sciences Commercial Strategies.