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Strategic Management for Innovation in Life Sciences: A Comprehensive Overview

In: Innovation in Life Sciences

Author

Listed:
  • Soham Saha

    (MedInsights SAS)

  • Victor Hannothiaux

    (MedInsights SAS)

  • Manish Sarkar

    (MedInsights SAS
    Hochschule für Technik und Wirtschaft (HTW Berlin))

  • Sophie Ameloot

    (MedInsights SAS)

Abstract

Innovation is a key driver of success in the life sciences industry, as it allows companies to develop new products, processes, and services that can improve patient outcomes and generate faster and better management of healthcare challenges. As evidenced by the recent COVID-19 outbreak and healthcare responses, emerging big data, digitization of processes and services, and increased cloud collaboration have reduced innovation costs while providing healthcare solutions at breathtaking speeds. This enables key stakeholders (academia, biotechnology/med technology startups, pharmaceutical companies, manufacturers and investors, etc.) to invest intelligently in future life sciences industry disruptors, and builds resilience to prevent future disruptions due to health emergencies. However, to manage such a rapidly changing innovation scenario and adaptation in life sciences, it is necessary to have a strategic approach that aligns with a company’s overall business goals, and at the same time, provides effective and efficient solutions to contribute to resilient innovation for the future. In this chapter, we will be discussing the key challenges in handling innovation pipelines involving big data and artificial intelligence, some case studies we have experienced, and key business strategies we have adopted to navigate our way in the field of innovation in life sciences.

Suggested Citation

  • Soham Saha & Victor Hannothiaux & Manish Sarkar & Sophie Ameloot, 2024. "Strategic Management for Innovation in Life Sciences: A Comprehensive Overview," Management for Professionals, in: Avo Schönbohm & Hans Henning von Horsten & Philipp Plugmann & Moritz von Stosch (ed.), Innovation in Life Sciences, pages 191-212, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-47768-3_11
    DOI: 10.1007/978-3-031-47768-3_11
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