IDC FutureScape: Worldwide Life Sciences 2023 Predictions

IDC FutureScape Figure

• Figure: IDC FutureScape: Worldwide Life Sciences 2023 Top 10 Predictions

Executive Summary

IDC FutureScape Predictions

• Summary of External Drivers

• Predictions: Impact on Technology Buyers

• Prediction 1: By the End of 2024, Transparency Improvements Driven by Drug Serialization and Traceability Mandates Will Translate into 20% Reduction in Revenue Leakage at Life Science Companies Worldwide

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 2: By 2025, 50% of Life Science Organizations Will Adopt Intelligent Tech Platforms to Embrace Sustainability-by-Design Strategies and Track Value Chain Emissions Across Sites, Processes, and Products

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 3: By 2025, 80% of Pharma Will Have Adopted AI-Enabled Pharmacovigilance Solutions with "Human in the Loop" to Avoid "Black Swan Events," Drive Patient Safety, and Support Value-Based Pricing

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 4: By 2025, 60% of Life Science Firms Will Use Health Data Platforms for Physician Engagement and Patient Journey Processes, 65% to Support Regulatory Submissions, and 35% to Support Value-Based Pricing

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 5: By 2026, Investments in Integrated Supply Chain Management Will Enable Half of Global Life Science Manufacturers to Increase Revenue by Avoiding Stockouts of Active Ingredients and Supplies

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 6: By 2026, the Adoption of AI-Based Drug Design by the Life Science Industry Will Grow by 65%, Fueled by a Focus on Precision Medicine and a Fast-Growing Ecosystem of Innovative Tech Start-Ups

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 7: By 2027, Investments in Digital Pathology Multimodal Data Integration Capabilities Will Double to Advance Cancer Diagnostics, Define Composite Biomarkers, and Drive a Precision Medicine Strategy

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 8: By the End of 2027, 95% of Pharma Companies Will Have Established Strategic Partnerships to Access Real-World Data, with 25% Transitioning to the Adoption of Synthetic Data

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 9: Pioneered by the United States, Retail Pharmacies Will Fuel Diversity and Inclusion, Increasing Access to Clinical Trials by 60%, Enabling a Care Anywhere Strategy, and Driving Adoption of CRAACO by 2028

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

• Prediction 10: By 2028, 60% of Life Science Organizations Will Have Adopted the Metaverse with Early Adoption for HCP Engagement, Training, and Sales Enablement, with Gradual Adoption in Digital Therapeutics

• Associated Drivers

• IT Impact

• Patient Impact

• Guidance

Advice for Technology Buyers

External Drivers: Detail

• Storms of Disruption — Accelerating, Interconnected Uncertainty

• Cybersecurity and Risk — Scaling and Evolving Threat Environment

• Global Supply Shock — Refocusing on Multisource and Resilience

• Digital Business — Stepping Stone to the Future Enterprise

• Meaningful Intelligence — Differentiated Decision Power

• Embracing the Metaverse — New Levels of Immersion

• Mainstream ESG — Sustainability Is Measured and Mandatory

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• Related Research