Digital transformation improves remote
interactions with patients, streamlines research and analytics, ISG
Provider Lens™ report says
Technologies that enable decentralized clinical trials and other
new practices are transforming the global life sciences industry,
according to a new research report published today by Information
Services Group (ISG) (Nasdaq: III), a leading global technology
research and advisory firm.
The 2024 ISG Provider Lens™ global Life Sciences Digital
Services report finds that enterprises are recognizing the
limitations of traditional, centralized trials that require ongoing
in-person visits by patients. Digital technologies now make it
possible to remotely recruit patients, obtain their consent,
monitor their health and collect data.
“Interest in decentralized trials is soaring,” said Jenn Stein,
ISG partner and life sciences industry lead. “Pharmaceutical
companies and research organizations are studying and embracing new
methodologies to better evaluate treatments.”
The convergence of recent innovations in telemedicine, wearable
devices, mobile applications and electronic health records has
kickstarted this trend by enabling seamless remote interactions
between patients and investigators, the report says. However,
organizations are still working through challenges around data
privacy, security, regulatory compliance and integration with
existing trial infrastructure and workflows.
AR and VR systems are becoming widely available for life
sciences, and enterprises are introducing them to make it easier
for patients to participate in decentralized trials, ISG says.
Personalized patient engagement and training with these tools
enhance comprehension and adherence to trial protocols.
Organizations are also using AR and VR for more intuitive data
visualization to analyze and interpret trial results.
Enterprises and vendors are also innovating to provide more
patient-centric research, trials and treatment outcomes, the report
says. Getting patients involved in drug development and care
delivery is a growing priority, and patient-reported outcomes are
beginning to shape research and trials. Pharmaceutical companies,
researchers and healthcare providers are collaborating with
patients and communities to make sure products and services meet
their needs.
Organizations are using AI, automation and natural language
processing (NLP) to change the way they conduct pharmacovigilance
and regulatory compliance, ISG says. Automation is streamlining
processes such as case intake and adverse event reporting, and AI
algorithms let companies quickly analyze data, identify risks and
respond to new regulations. Generative AI (GenAI) is the latest
must-have technology.
“There is a race to use GenAI to improve research and trials,”
said Jan Erik Aase, partner and global leader, ISG Provider Lens
Research. “Every company wants GenAI tools in its portfolio.”
The report also explores other trends in the life sciences
industry, including the rising importance of supply chain
management and collaborative approaches to regulation.
For more insights into the challenges faced by life sciences
organizations, including compliance with changing regulations and
integration between new and legacy technologies, plus ISG’s advice
on overcoming these, see the ISG Provider Lens™ Focal Points
briefing here.
The 2024 ISG Provider Lens™ global Life Sciences Digital
Services report evaluates the capabilities of 39 providers across
five quadrants: Clinical Development, Patient Engagement,
Manufacturing Supply Chain, Pharmacovigilance and Regulatory
Affairs — Digital Evolution, and Commercial Operations — Digital
Evolution.
The report names Accenture, Capgemini, Cognizant, Deloitte,
HCLTech, Infosys and TCS as Leaders in all five quadrants. It names
Wipro as a Leader in four quadrants and PPD as a Leader in three.
Genpact, Hexaware and Tech Mahindra are named as Leaders in two
quadrants each, and Indegene, IQVIA and LTIMindtree are named as
leaders in one quadrant each.
In addition, Tech Mahindra is named as a Rising Star — a company
with a “promising portfolio” and “high future potential” by ISG’s
definition — in two quadrants. Hexaware, Indegene and Persistent
Systems are named as Rising Stars in one quadrant each.
In the area of customer experience, Cognizant is named the
global ISG CX Star Performer for 2024 among life sciences digital
services providers. Cognizant earned the highest customer
satisfaction scores in ISG's Voice of the Customer survey, part of
the ISG Star of Excellence™ program, the premier quality
recognition for the technology and business services industry.
Customized versions of the report are available from BeyondSoft,
PPD and Tech Mahindra.
The 2024 ISG Provider Lens™ global Life Sciences Digital
Services report is available to subscribers or for one-time
purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Mexico,
Brazil, the U.K., France, Benelux, Germany, Switzerland, the
Nordics, Australia and Singapore/Malaysia, with additional markets
to be added in the future. For more information about ISG Provider
Lens research, please visit this webpage.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI and automation, cloud and data analytics; sourcing
advisory; managed governance and risk services; network carrier
services; strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs more than 1,600
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240716714144/en/
Press Contacts:
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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