Tag: life sciences

Connected Medical Device Services PEAK Matrix® Assessment 2022

Top Connected Medical Device Services

With the increased adoption of remote monitoring technologies, wearables, and smart implants, the medical devices industry is shifting toward building a connected care ecosystem that seamlessly integrates people, technology, and data across the care continuum. Enterprises are looking to augment their current device portfolios with digital technologies to support the patient journey across care settings. To support enterprises on their connected care journeys, providers are ramping up both their engineering and digital capabilities through industry-specific partnerships, IP, and innovation centers to benefit stakeholders across the healthcare and MedTech ecosystems.

DOWNLOAD THE FULL REPORT Connected Medical Device Services PEAK Matrix® Assessment 2022

Connected Medical Device Services PEAK Matrix® Assessment 2022: What is the Scope?

  • Industry: life sciences
  • Geography: global
  • The assessment is based on Everest Group’s annual RFI process for 2022, interactions with leading connected medical device service providers, client reference checks, and an ongoing analysis of the connected medical device services market

What is in this PEAK Matrix® Report:

In this research, we present an assessment of 19 medical device service providers featured on the Connected Medical Device Services PEAK Matrix®. This report examines:

  • Connected medical device services market trends

  • The service provider landscape for connected medical device services

  • Service providers on several capability- and market success-related dimensions

LEARN MORE ABOUT Connected Medical Device Services PEAK Matrix® Assessment 2022


Our Thinking

Digital Transformation Strategies
Webinars

What’s Ahead After a Decade of Digital Transformation?

Linkedin Live Banner 1200x628 1
Webinars

Trust and Safety (T&S) in the Metaverse

June 21 webinar banner GTP 1200x628 copy 7
Webinars

Web 3.0 and Metaverse: Implications for Sourcing and Technology Leaders

Use of Wearables and Telehealth Are Skyrocketing
Market Insights™

Use of Wearables and Telehealth Are Skyrocketing

The Virtual Sales Model in Life Sciences-Drivers of and Challenges to Adoption
Market Insights™

The Virtual Sales Model in Life Sciences-Drivers of and Challenges to Adoption

Life Sciences Services Specialists’ Unique Value Propositions
Market Insights™

Life Sciences Services Specialists’ Unique Value Propositions

LS Enterprises Shifting from Traditional CRM to CXP
Market Insights™

Life Sciences Enterprises Shifting from Traditional CRM to CXP to Create Competitive Advantage

Customer Experience is a Top Business Priority for Life Sciences Enterprises
Market Insights™

Customer Experience is a Top Business Priority for Life Sciences Enterprises

Connected Medical Device
PEAK Matrix®

Connected Medical Device Services PEAK Matrix® Assessment 2022

life science service providers
PEAK Matrix®

Life Sciences Operations PEAK Matrix® Assessment 2022

Life Sciences GBS Success 06 09 2022 1200x628
Webinars

GBS Leadership Exchange: Life Sciences GBS Success – Reimagining Operating and Governance Models

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Life Sciences Operations PEAK Matrix® Assessment 2022

Top Life Science Service Providers

Following the COVID-19 pandemic, the life sciences industry has undergone several changes. Face-to-face HCP interactions are slowly being replaced with an omnichannel approach; the market is also pivoting from centralized clinical trials to de-centralized clinical trial operations. Additionally, safety has become a priority for regulators and consumers, leading to an increased focus on pharmacovigilance. The dynamic nature of this industry and recent disruptions have opened new growth avenues for enterprises. To capitalize on these opportunities, enterprises are investing in digital tools and establishing relationships with third-party vendors to achieve cost savings and operational efficiencies.

DOWNLOAD THE FULL REPORT Life Sciences Operations PEAK Matrix® Assessment 2022

Life Sciences Operations: What is the Scope?

This report provides a detailed analysis of 32 operations service providers and includes:

  • Relative positioning of the providers on Everest Group’s PEAK Matrix® for Life Sciences Operations Services
  • Comparison of the providers’ capabilities and market shares
  • Everest Group’s analysis of the providers’ strengths and limitations

What is in this PEAK Matrix® Report:

In this research, we present a detailed assessment of 32 life science service providers featured on the Life Sciences Operations – Services PEAK Matrix®. We provide a relative positioning and analysis of the providers’ market shares, along with our evaluation of their strengths and limitations. This report will enable enterprises to identify suitable service providers to manage the evolving needs of their businesses.

LEARN MORE ABOUT Life Sciences Operations PEAK Matrix® Assessment 2022

Our Thinking

Screen Shot 2016 07 27 at 9.40.22 AM
Blog

Oscar Health’s +Oscar Platform May Signal a Turning Point for Healthcare Payer Product Innovation

GettyImages 1125515418
Blog

COVID-19 Highlights Life Sciences’ Need for an Adaptable Supply Chain

Everest Group Life Sciences Clinical Trials Products PEAK Matrix Assessment 2019
Blog

Dassault Systèmes Acquires Medidata to Ride the Platform Wave in Life Sciences

The Future of Life Sciences Clinical Trials Take Aways from Medidata NEXT blog 523406948
Blog

The Future of Life Sciences Clinical Trials: Take-Aways from Medidata NEXT

The Virtual Sales Model in Life Sciences-Drivers of and Challenges to Adoption
Market Insights™

The Virtual Sales Model in Life Sciences-Drivers of and Challenges to Adoption

Life Sciences Services Specialists’ Unique Value Propositions
Market Insights™

Life Sciences Services Specialists’ Unique Value Propositions

LS Enterprises Shifting from Traditional CRM to CXP
Market Insights™

Life Sciences Enterprises Shifting from Traditional CRM to CXP to Create Competitive Advantage

Customer Experience is a Top Business Priority for Life Sciences Enterprises
Market Insights™

Customer Experience is a Top Business Priority for Life Sciences Enterprises

Connected Medical Device
PEAK Matrix®

Connected Medical Device Services PEAK Matrix® Assessment 2022

life science service providers
PEAK Matrix®

Life Sciences Operations PEAK Matrix® Assessment 2022

Life Sciences GBS Success 06 09 2022 1200x628
Webinars

GBS Leadership Exchange: Life Sciences GBS Success – Reimagining Operating and Governance Models

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

GBS Leadership Exchange: Life Sciences GBS Success – Reimagining Operating and Governance Models | Virtual Roundtable

GBS Leadership Exchange | Invitation-only event

Life Sciences GBS Success – Reimagining Operating and Governance Models

Thursday, July 14, 2022 |
8:30-10 am EDT / 6-7:30 pm IST

Life sciences GBS organizations today are strategic partners for their enterprises, delivering innovative capabilities for operational and technological advancements. The next wave of evolution for GBS is now upon us and will focus on reaching value beyond arbitrage, growing the enterprise’s top line, and reducing barriers inhibiting GBS-enterprise collaboration.

However, evolution will hinge on a reimagining of the GBS operating and governance models.

Attend our exclusive virtual roundtable, “Life Sciences GBS Success – Reimagining Operating and Governance Models,” on Thursday, July 14, 2022, 8:30 am – 10:00 am EDT / 6:00 pm – 7:30 pm IST.

In this collaborative session, our analysts will lead a conversation with you and your industry peers exploring the operating and governance model changes that are critical to position GBS for sustained success.

What you will take away

Together, we’ll discuss the key priorities for the future of life sciences GBS organizations, including:

  • The 2025 vision for life sciences GBS organizations
  • Key areas and enablers for future value creation
  • Futuristic operating and governance models
  • Success-driving actions and approaches for life sciences GBS leaders
  • Success stories and ideas from best-in-class peers

Who should attend?

  • GBS leaders
  • GBS strategy leaders
  • GBS site leaders

Virtual Roundtable Guidelines

This event is available to our GBS Leadership Exchange members only. The only price of admission is participation. Attendees should be prepared to share their experiences and be willing to engage in discourse.

Participation is limited to enterprises (no service providers), and Everest Group must approve each attendance request to ensure an appropriate size and mix of participants. The sessions are 90 minutes in duration and include introductions, a short presentation, and a facilitated discussion.

Arora Jimit Refresh gray square 1
Jimit Arora
Partner
Bharath M Refresh gray square
Bharath M
Practice Director
Kushagra Singh
Kushagra Singh
Senior Analyst

Request more information

"*" indicates required fields

Name*
Consent*

Life Sciences Operations Outsourcing Is Expected to Grow 9-11% Through 2022 | Press Release

Pharmaceutical firms are seeking faster time to market, reduced costs and access to technology, thereby generating rapid traction in life sciences outsourcing marketing

The life sciences industry is going through a renaissance period that is marked by transformational breakthroughs in the way technology is utilized. Key market trends such as rising adoption of decentralized trials, focus on research and development (R&D) efficiency, rise in the use of specialty medication, and increasing importance of real-world evidence (RWE) is forcing enterprises out of their comfort zone and necessitating the development of next-generation technological capabilities, resulting in increased adoption of outsourcing in the life sciences space.

The rising demand for technological support is one of many trends compelling firms in the life sciences industry to rethink their strategy and operations. Other trends are explored in depth in Everest Group’s “Life Sciences Operations: Changing Market Dynamics Ushering In a New Wave of Digitalization” In this report, Everest Group examines the key themes and trends characterizing the life sciences operations market, including the various levers of emerging technologies and their impact across the life sciences value chain, outsourcing dynamics, deal trends, and the service provider landscape.

Selected Highlights:

  • Modernizing clinical trials: Clinical trials in the life sciences sector are experiencing a shift from a centralized clinical trial approach to a decentralized clinical trial (DCT) approach, which has resulted in reduced costs and enhanced recruitment. DCTs leverage virtual platforms and other technologies (such as smart phones, wearables, sensors, and in-home devices) to enable clinical trial testing in various settings—from point-of-care locations to trials conducted at patients’ homes. Artificial intelligence (AI) and machine learning (ML) are being leveraged to facilitate diagnosis, improve patient satisfaction, and generate real-world evidence of drug efficacy.
  • Increased focus on APAC markets: Although North America and the European Union (EU) are currently the largest geographies for life sciences, Asia Pacific (APAC) countries are growing in importance due to the increase in healthcare spending and rise of non-communicable diseases (such as cardiovascular disease, cancer, and diabetes) in the region. Healthcare spending in APAC is projected to surge to US$2.3 trillion by 2026, based on an analysis of health expenditure data from the Organization for Economic Co-operation and Development (OECD). The rise in spending will be partly utilized to purchase medication and MedTech devices, thereby boosting the life sciences market in the region.
  • R&D’s focus on efficiency: To improve their return on investment, pharmaceutical companies are shifting towards more cost-efficient DCTs, improving efficiencies through collaborative R&D, and utilizing emerging technologies such as AI and analytics. Additionally, life sciences firms are increasingly outsourcing their R&D activities in a bid to reduce cost.
  • Specialty medicine: The life sciences industry is transitioning from a blockbuster model (i.e., development of mass market drugs to generate new sales) to a specialty model (i.e., development of specialized medicines to treat specific disease subtypes). Examples of specialty medicine include gene therapy and precision medicines customized to each patient’s genetic makeup. As the demand for biotechnology drugs grows, enterprises will be required to develop and adopt new technologies such as AI and analytics for rapid drug development and adaptive clinical trials.
  • Beyond-the-pill services: “Beyond-the-pill services” refers to an accompanying offering to a pharmaceutical or medical device product that addresses a patient’s needs along the entire journey, leading to better health outcomes. Such services may include education and information, assistance in managing the disease or side effects of treatment, tracking therapy progress, and co-pay programs. To develop and implement an effective beyond-the-pill service offering, life sciences firms need to invest in digital remote monitoring platforms and cloud-based technologies and increase hiring of trained personnel to provide care.
  • Regulatory scenarios: In nearly every geographic region, life sciences firms are anticipating regulatory changes that will impact their business. The U.S. is developing guidelines to regulate the Software-as-a-Medical Device (SaMD) market. In Asia, regulatory scrutiny is on the rise, particularly in the Chinese and South Korean markets. In the EU, the Medical Device Regulation (MDR) and In Vitro Diagnostic Regulation (IVDR) are set to replace the Medical Device Directive of 1993.
  • Real-World Evidence: The US Food & Drug Administration (FDA) defines Real-World Data (RWD) as data relating to patient health status and/or the delivery of health care routinely collected from a variety of sources. Real-World Evidence (RWE) is the clinical evidence about the usage and potential benefits or risks of a medical product derived from analysis of RWD. Currently RWE is used to support regulatory submissions and label expansion, to inform the design of value-based contracts for comparative effectiveness research, and as a synthetic control arm of clinical trial design. To develop RWE capabilities, most pharmaceutical firms are actively seeking access to new sources of data; however, many lack the capabilities and infrastructure to analyze large datasets, which may result in huge investments in data analytics platforms and a rise in outsourcing to service providers with data analytics capabilities and requisite data security and governance measures.
  • COVID-19 impact: The pandemic has exposed the pharmaceutical industry’s supply chain fragility and its dependence on China and India, leading several countries to restructure pharmaceutical supply chains to enhance onshore production capacity. The pandemic has also ushered in the digital age in the life sciences industry, with several firms focused on investing in social media, cloud computing, big data, cybersecurity, and digital platforms.

These trends have generated rapid traction in the life sciences outsourcing market as service providers accelerate their efforts to assist enterprises in augmenting their operations by delivering services and solutions across the life sciences operations value chain.

***Download a complimentary abstract of the report here.***

About Everest Group
Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global companies, service providers, and investors. Clients use our services to guide their journeys to achieve heightened operational and financial performance, accelerated value delivery, and high-impact business outcomes. Details and in-depth content are available at http://www.everestgrp.com

Request a briefing with our experts to discuss the 2022 key issues presented in our 12 days of insights.

Request a briefing with our experts to discuss our 2022 key issues

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

  • Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.