Modern, interconnected data and personalized patient centricity: these are two of the rising trends we explore in Slalom's 2023 life sciences outlook.
The global pharmaceutical market could surpass $1.5 trillion in 2023, according to a report from IQVIA. Even through such growth, brand loss of exclusivity will be a strong annual trend, with over $40bn projected in revenue loss across the top 10 pharmaceuticals. As we continue to navigate a post-COVID landscape, we can expect to see a persistence of trends from 2022 into 2023. Notably, we expect life sciences (LS) organizations to invest heavily in:
Whether it’s the increased adoption of machine learning or the trend toward in-house activities (and their associated data) or focus on end-to-end supply chain connectivity, 2023 will see increased reliance on modern data practices to improve automation and efficiency. It’s about more than just data collection—it's how that data is used, connected across the patient and development lifecycle, and applied to aid innovation and quality care.
LS organizations are getting increasingly closer to patients, and the need to deliver personalized experiences through every interaction will continue to increase. We also see health equity as a core focus within the realm of patient centricity, driving preferences for real world evidence and more flexible relationships with payers.
We dive into greater detail in each of the following sections, covering:
R&D
Commercial
Medical affairs
Manufacturing and supply chain
Regulatory, quality, and compliance
Digital health product development
Data and intelligence
Experience