While it is true that the Life Sciences industry is rapidly being recognized as a competitive and fast-paced sector, it continues to operate in a robust regulatory environment. As for 2020, it is expected that the industry would witness growth and transformation. Like any other sector, the Life Sciences industry would also embrace digital advancements, which would further bring a positive change, thereby improving business operations.
Speaking about digital growth, the life sciences industry is undoubtedly embracing the benefits of the cloud. For instance, with the growth of could-based regulatory information management (RIM) implementations, there has been a decline in the use of the on-premise deployment model in the life sciences industry. This transformation can be linked to performance, global presence, flexibility, and optimization of operations.
Interestingly, there has also been a growth in the RIM implementations. To be more precise, regulatory changes in the Identification of Medicinal Products (IDMP) are not only paving the way for business opportunities in the sector, and at the same time, increasing the attention on the need for data-driven and sophisticated regulatory information management (RIM) solutions. There is also an increased focus on establishing a system that allows seamless data and content-sharing across clinical, regulatory, labeling, manufacturing, and drug safety domains, further driving the adoption of unified RIM solutions within the life sciences industry.
It has also been observed that the incorporation of digital quality management right from the start can play a significant role in minimizing risks that deviate from standards and regulations, thereby proactively establishes complaint progresses through clinical development towards regulatory submission. As such, quality and compliance teams must put their focus on implementing a quality management system, covering both quality processes and document management areas.
In this edition of Life Sciences Review, we shed light on the most prominent and life sciences companies that offer turnkey technologies and tools for their clients' unique needs. We have focused on companies that not only exhibit prudence and expertise in the life science space but also have a passion for building a better world. We hope that our readers can choose the best firm to partner in their business endeavors.
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