Life Science Review Technology Magazine

What is Life Sciences Technology:

This rundown of life sciences contains the parts of science that include the logical investigation of life and creatures –, for example, microorganisms, plants, and creatures including individuals. This science is one of the two significant parts of common science, the other being physical science, which is worried about non-living issue. Science is the common science that reviews everyday routine and experiencing living beings, with the other life sciences its sub-disciplines.

Image for post
Image for post

Reporting and analysis on the technological innovations that are an integral part of modern life sciences research and development. The Life Science Technologies section covers various fields within the biomedical sector including biological data analytics, bioinformatics, advances in biomaterials and bioelectronics, biomedical engineering, as well as the neuroscience sector.

See Also:

Top 3 Challenges in the Life Sciences Markets:

This year has brought new beginnings for the individuals working in sales and marketing roles for sales figures and marketing metrics. These numbers are meant to measure the researchers’ ability to make the researchers aware of the value the companies create and differentiate what various companies have to offer. Many things had changed since every life science company followed a ‘blue ocean strategy,’ where every researcher purchased transfection reagents from the same company and restrictions enzymes from another. The present competitive environment needs new entrants and incumbents to fight for their market share with evolving strategies to increase their voice and promote relevant content.

Image for post
Image for post

Here the top three life science marketing challenges.

GDPR compliance: email spamming and website cookies

Big data promised to allow life science marketers to carefully segment potential clients to ensure that each individual receives the most appropriate targeted content, and the effectiveness of campaigns could be tracked. But the EU had other plans. In May 2018, the EU decided to tighten its data protection laws when the General Data Protection Regulation (GDPR) took effect.

What was said by some to be the end of email spamming was actually about the personal data rather than unsolicited emails. Email regulations governing spamming are country-specific.

Inbound marketing strategies and social media for life science marketers

Life science researchers like to make well-informed decisions when looking for new instruments, reagents, consumables, and contracted services. They depend on Google searches, journal articles, and advice from their peers and key opinion leaders. This is good news for offerings that were first-to-market or in segments with little competition, but is expensive and takes considerable time to put in place for new offerings in competitive markets.

Image for post
Image for post

Inbound marketing strategies, like blogs, white papers, and webinars combined with social media, become an efficient way to share the company’s expertise and value proposition immediately to a large audience of potential clients. But choosing the content and social media presence is essential.

See Also:

Tips for choosing the right conferences to sponsor and avoid

Nothing boosts marketing than the scientific conference. For life science marketers, it’s generally easy to choose the most important conferences to attend, but one can find themselves investigating new kinds of conferences to address new markets or opportunities.

Image for post
Image for post

How AI is Transforming the Life Science and Pharmaceutical Industries:

The pharma and life science industry has to deal with increasing regulatory, reducing the R&D productivity, impact of artificial intelligence in the (AI) value chain, and difficulties to growth and profitability. The pharma and life science industry is forced to transform their status quo due to the regulatory changes conducted by the far-reaching Patient Protection and Affordable Care Act (PPS) in the US.

Image for post
Image for post

Even though the healthcare system’s result is deteriorating and new epidemics are emerging, the industry is dealing with rising R & D expenses due to the increasing cost of regulatory compliance. Customer demographics are also changing because of the intense regulatory transformation. The growth in the life science and healthcare sector is boosted by developing APAC and Latin American regions.

See Also:

Disruption in life sciences

The pharmaceutical companies can utilize AI in various methods to promote informed decision making on every part of the business. In the healthcare sector, making an informed decision during clinical trials, designing, planning, and manufacturing will improve collaboration in the systems, process efficiency, drive competitive advantages, information sharing, and cost optimizations.

Artificial intelligence helps the pharmaceutical industry make decisions based on engineering, real-time, data mining, and algorithms. They can respond to the following primary business value chain disruptions.

Image for post
Image for post

AI-driven drug discovery

With AI-based drug discovery, scientists can source their scientific findings and information from external labs or internal knowledge. It helps them start discovery as soon as possible and decrease the time of product development due to which it can be launched in the market faster.

Reduce cycle times for clinical trials–

The pharmaceutical industry can also decrease cycle time because of the enhanced machine-based algorithm’s better information.

Supply chain transformation

The healthcare sector can also develop a predictive algorithm by combining internal and external data. It will help them decrease the unexpected deficiencies in the availability of drugs, impacting customer service levels, and even losing sales revenue.

See Also:

Image for post
Image for post

How Technology Will Benefit the Life Science Supply Chain:

The life science industry has become necessary to have a more advanced supply chain to meet the increasing demand cost-efficiently. It has become urgent for the sector to change its operations due to the patients’ evolving requirements and technological advancements.

Image for post
Image for post

However, presently the life science and healthcare sector are witnessing a transformation in its operating models and supply chains. The industry is also affected due to cost pressure from regulatory authorities, consumer behavior, government, and digitalization. The companies that are already using Technology and advanced supply chain will be at an advantage in the competition. Here are some of the significant trends in the life science industry, and the developing patient-centric healthcare method will need a more cost-efficient, complicated, and capable supply chain.

1) Advancing Data Analytics (Big Data)

With the help of Data analytics or Big Data, healthcare providers can make better-informed decisions about managing operations. It can be done by connecting the members of healthcare systems and combining the data. The system will help the healthcare system accurately predict, reduce expenses, and increase efficiency in the logistics and supply chain operations.

2) Internet of Things (IoT)

Internet of Things (IoT) can increase the visibility and connectivity in the supply chain. It will also help life science companies better control the product inventories in the supply chain and decrease waste and loss. Robust links among physical products and data will also help the industry fight its battle against theft and counterfeiting.

3) Healthcare On-Demand

Healthcare on-demand can increase the response to increasing the online and home care channels. It is estimated that the online pharmaceutical market will grow immensely in the future. Due to such augmentation in the market, the delivery channels are also changing by applying new direct-to-consumer delivery models.

Image for post
Image for post

4) Robotics and Automation

The utilization of robots and automated vehicles will help them decrease labor necessary for the repetitive tasks like analyzing laboratory samples, picking products in warehouses, and sorting them. Aerial drones can also be utilized to offer faster and cost-effective deliveries in remote locations.

Check This Out:

See Also:

Written by

I am a technology blogger, who loves to read and write on the latest in technology.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store