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      Expectations of life sciences companies today include faster innovation, transparent drug pricing, and a greater purpose beyond profits. Some companies are hunkering down to weather the current economic storm. However, leaders are rethinking their operating models to ensure they can meet stakeholder expectations, anticipate threats, and capitalize on data-driven insights to win in the marketplace.

      In this paper, KPMG professionals examine four primary signals of change and four strategic imperatives that represent the future of life sciences.

      • Precision medicine is no longer aspirational. It is moving life sciences directly into the patient care continuum.
      • Digital health is central to life sciences companies’ ability to introduce new innovations that meet consumer expectations for better healthcare experiences.
      • Artificial Intelligence and Machine Learning are improving R&D and MedTech development, although security measures are crucial for harnessing their full potential.
      • Critical risks persist including supply chain, cyber breaches, and counterfeiting.

      • Design tech-enabled, customer-centric experiences to meet the needs of payers, providers, and patients.
      • Develop AI partnerships with a range of AI companies -- from focused startups to Big Tech -- for faster time to market.
      • Rethink the supply chain to enable more connected customer experiences, support novel therapeutics and precision medicine, and mitigate the risk of disruption.
      • Manage cyber risks associated with emerging technologies from AI and ML to cloud and the Industrial Internet of Things.
      future-of-connected-enterprise-for-life-sciences.pdf

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      Learn more about KPMG firms' life sciences practice or contact a KPMG professional who is ready to help you address new challenges and drive growth.

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      The future of life sciences will likely be shaped by tech-enabled connectivity, strategic uses of AI, and patient-centric supply chains.
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      Anastasia Miros
      Anastasia Miros

      Director, Healthcare and Life Sciences, Asia Pacific

      KPMG in Singapore

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