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All to win? Or all to lose?

How a disruptive business model is driving digitization in life sciences.

Overview

Business as usual is not an option for life science companies who are increasingly at risk of being cannibalized by digital disruptors. But partial digitization will only buy them time. They need to scale up—and quickly—with new digital business models that target new markets. The reward for fast movers that address unmet customer needs through the lens of a digital ecosystem could be a 61 percent profitability boost.

DOWNLOAD ALL TO WIN? OR ALL TO LOSE? DRIVING DIGITIZATION IN LIFE SCIENCES [PDF]

Key Findings

Only new, digitally disruptive business models can unlock digitization’s full potential.

  • Digitization will be fueling at least one-third of the revenue growth and 40 percent of the profitability.

  • Partial digitization could increase profitability by 27 percent, but still result in revenue loss. This only buys you time because so many mainstream players are pursuing the same strategy.

  • To secure a leading position for the future you need to scale up—and quickly. New, digitally disruptive business models that address unmet needs in new markets could generate a profitability boost of as much as 61 percent for fast movers.

Digitization ought to be a no-brainer for life sciences. Accenture research shows that it will be fueling almost one-third of the growth in the global pharmaceutical market by 2020.

DOWNLOAD DRIVING DIGITIZATION IN LIFE SCIENCE INFOGRAPHIC [PDF]

Recommendations

Companies that combine partial digitization with new business models will be positioned to win in the outcomes-driven life science markets of the future.

  • Provide clear guidance from the top

  • Address the market as a whole to create value for the entire health ecosystem

  • Target the right markets with a completely new attempt to drive outcomes and profitability will be your reward

  • Learn, share and partner to create new business opportunities

  • Foster a digital culture and mind-set and build required digital skills

LEARN MORE ABOUT ACCENTURE STRATEGY


Authors
Kenneth Munie
Kenneth Munie

Managing Director — Accenture Strategy
Digital Disruption Lead

Kenneth Munie is a Managing Director in Accenture's Strategy practice, focused on Life Sciences. Since joining Accenture in 2004, Mr. Munie has concentrated on commercial strategy & analytics for life sciences clients. He has significant experience in developing and executing digital brand & portfolio marketing strategies, defining and implementing new commercial models, and designing interactions between life science manufacturers and payers & providers. Mr. Munie holds a MBA from The Wharton School of the University of Pennsylvania, where he graduated with honors, majoring in both Marketing & Strategic Management and a B.S. in Electrical Engineering from the University of Michigan.

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Dr. Jan Ising
Dr. Jan Ising

Managing Director — Accenture Strategy
Life Science Industry Lead Europe

Jan Ising is managing director at Accenture Strategy with over 10 years of experience in Life Science and Healthcare focusing on global pharmaceutical companies as well as payer associations. His focus is at the intersection of new commercial models, digitization as well as corporate transformations. Jan Ising is leading the European team for Accenture Strategy in Life Science. Prior to Accenture he was an Associate Principal of one of the leading strategy consulting firms. Jan holds a MA and Ph.D. degree from Witten/Herdecke University in Economics.

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