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Supply Chain or Distribution Failure
Supply chain risk is broadening and becoming more complex, extending well beyond keeping shipping vessels moving or suppliers’ manufacturing facilities intact.
Industry Overview
Life Sciences
Accelerating Innovation in an Increasingly Volatile Sector
From early-stage biotechnology start-ups to large multinational pharmaceuticals, the life sciences industry relies on innovation to meet shifting demands in health and improve treatment outcomes around the globe. However, emerging and established risks force organizations to operate in a volatile environment. While navigating research and development challenges, supply chain impacts and barriers to commercial sales, businesses also find themselves swept up in the fight for talent.
Finding new ways to cost-effectively manage risk and attract and retain a digitally-savvy workforce will accelerate innovation to create greater efficiencies, develop personalized medical treatments and access new markets. But with ever-evolving regulation, governance and production interruptions impacting the pace of progress, businesses across this sector must be resilient, investing in end-to-end solutions for their risk and human capital, as well as workforce health and wellbeing to protect vital talent.
Top 5 Current Risks
According to our latest Global Risk Management Survey, the biggest risks facing the Life Sciences industry include:
Report
Better Decisions on Risk Capital and Human Capital for Life Sciences
From the global powerhouses of big pharma to the niche start-ups and technology giants venturing into the healthtech space, technology has transformed the opportunities and risks for life sciences businesses. Both innovation and digitalization have been fundamental for the research, production and distribution of medicine and medical devices.
More Insights
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Article
Life Sciences: a Structured Approach to Implementing Pay Transparency Practices
Organisations recognize the growing value of technology and data assets relative to historical tangible assets, but they spend four times more budget on insurance for Property, Plant & Equipment risks
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Article
Managing Human Capital to Drive Innovation in Life Sciences
How Cyber and Data Resilience Support Growth in Life Sciences
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Article
How Life Sciences Build Robust Talent Pipelines in the Age of Digitalization
While digitalization is delivering transformational change to R&D across the sector, it is also rapidly reshaping recruitment and retention strategies.
