Report by Gabriel Karandysovsky.
Introduction
It comes as little surprise that Life Sciences is a sector firmly on the rise. While access to healthcare is democratizing across the globe, the growing needs of patients go hand in hand with technological advancements transforming the way businesses operate. More stringent regulatory standards and access to large swathes of data force global businesses to react. New opportunities are opening up, with outside entrants prying the door open wider. There are vertiginous sums involved. It’s an appetizing pie, to say the least, and localization service providers are jostling for a position at the table.
At the same time, localization buyers in Life Sciences have a wealth of options to choose from when deciding who to partner with. Stock solutions are no longer enough, and providers are figuring out what new wrinkles they can add to their game to land a new deal. Curating business relationships is taking a backseat to investment in innovation. This is a terrain of opportunity for specialized technology providers, too. They come armed with technology that answers specific demands while remaining unburdened by the weight of complex localization processes.
This is an in-depth report on the Life Sciences industry. The Nimdzi team carried it out by talking to industry players. We collected feedback from service providers working in this space. We analyzed publicly available sources of information on localization buyers and consulted research reports on the industry from leading analytics firms. Industry experts weighed in with their opinions about current trends. The tableau was completed by talking to technology firms about their specialized offerings.
Our aim is to form a comprehensive mosaic of the state of localization in the Life Sciences industry.
Report scope: Life Sciences
For the purposes of this report, we will concentrate on the Life Sciences market. This sub-sector of the larger healthcare industry includes companies in fields such as biotechnology (biotech), pharmaceuticals (pharma), and medical devices (medtech). It also includes organizations and institutions that devote the majority of their efforts into the various stages of research, development, technology transfer and commercialization of health products and services. These are referred to as Contract Research Organizations (CROs).
Information contained in this report
- TL;DR
- The healthcare market: a (big) numbers game
- Life Sciences: a growing pie
- Localization buyers
- Localization providers
- Technology: the great enabler
- The next frontier
- Conclusion
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This report was researched and written by Gabriel Karandysovsky. If you wish to find out more about the topic, please reach out to Gabriel at [email protected].
