The world as we know it changed forever in 2020. Countries around the world struggled to cope with the COVID-19 pandemic and everybody found they were taking drastic measures to deal with the threat. It’s no wonder that we all began to reimagine the ways in which society operates.
Now that we’re well into the “new normal,” our world still seems quite uncertain, and recovery isn’t yet secure. In these fragile times and today’s changing world, can the life sciences sector really flourish?
The answer, without question, is yes. Even despite the destruction and chaos we’ve seen during this pandemic, some real opportunities for growth have emerged.
The life science sector has been traditionally slow to accept the concept of digitalization, preferring instead to cling to long-established legacy practices.
However, the arrival of Covid only served to underscore that this approach was constraining the industry’s progress, with innovation being hampered and the development of novel solutions being bogged down.
The recent move towards digitalizing manual processes has provided numerous benefits to enable scalability while supporting practices of remote working. As the world continuously has numerous unknown variables to contend with, this is incredibly important.
For people working within the field of life sciences, having a mechanism through which they can carry on working, communicating, and collaborating even if they work in other locations is imperative. By assessing the workflow process and redesigning it, more holistic solutions can be adopted more rapidly.
The life sciences industry must learn to collaborate more effectively to achieve success and innovation. Through the pooling of resources and the sharing of non-competitive data, it is possible to make significant and rapid steps forward in less time.
Thanks to technology that allows knowledge to be shared from all over the world, the collaboration between different parties is widening the possibilities, especially through sharing of costs.
Meanwhile, the pooling of resources is increasing access for those working in the field around the globe enabling regulatory processes to be advanced more easily.
There is a strong need for data within the life science sector, especially within the realm of research and development. Vast swathes of data are being produced in this modern digital age, but key opportunities are likely to be lost if proper ways of assessing and harnessing this information are not employed.
Luckily, a collaborative approach together with cutting-edge technologies in today’s ever-changing world is making it easier to not only receive enormous amounts of data, but also to analyse it effectively.
Artificial intelligence technology is making clinical trials speedier, more adaptive, and more meaningful while also significantly reducing costly late-stage failures. This allows studies to leverage patient-level data in a more meaningful way, for example when it comes to quantifying the real implications of responses to treatment, and to improve clinical transparency as a whole.
Despite challenges that the modern changing world is throwing at the life science sector, with a willingness to trust new technology and invest in it, ever-greater successes could be just on the horizon. It is certainly an exciting time to be working in the industry!