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Technological advancements, regulatory shifts, and socioeconomic changes have long posed challenges for our healthcare system and the medical industry. The Covid-19 pandemic has laid bare and further exacerbated these underlying currents. A number of trends have emerged that will significantly change the pharma life and sciences industry: New therapies are causing increased complexity along the entire value chain and require greater agility as well as more frequent partnering to drive clinical development. Personalized medicine is enabling patients to proactively prevent diseases with the help of pharma life and sciences industry solutions integrated in their daily lives. However, to provide personalized healthcare, medical services need a far more profound understanding of lifestyle habits and individual human biology. Moreover, new competitors are entering the market to challenge the established providers. At the same time, geopolitical developments are impacting the globalization of the value chain. Lastly, digitization is enabling new solutions and approaches in the pharma life and sciences industry, for example through data analytics and AI.
To capitalize on these trends in healthcare, pharmaceutical companies need to consistently evolve in terms of research and development, operational strategy, digitization, and commercial transformation. This involves restructuring the value chain to reflect the needs of patients, introducing new forms of therapy, making targeted use of digital tools, and refocusing the business model towards health promotion and prevention. New go-to-market models can help implement these changes effectively, while the localization of supply chains can make them even more robust and resilient to disruption. It is equally important to initiate cross-industry collaboration to efficiently develop and effectively apply these innovative therapies.
To support our pharma life and sciences clients in this process, we combine practical experience with strategic excellence. For example, we optimize clinical approval processes, analyze supply chains and portfolios, and work closely with clients to develop smart strategies for integrated data management and production optimization. Whenever required, we also draw on our global network of PwC pharma life and sciences industry experts as the need arises.
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