PwC has been named as a Leader in the IDC MarketScape: Worldwide Life Science R&D Strategic Consulting Services 2021 Vendor Assessment (August 2021, IDC #US48159321). IDC states that, ‘As pharmaceutical companies continue on a path of vendor consolidation, choosing service providers that could deliver a full suite of business process outsourcing (BPO) and IT outsourcing (ITO) solutions, complemented by strategic consulting efforts, is becoming a preferred model. The sudden spurt in start-ups, the development of digital ecosystems, and the growing adoption of co-innovation models have led life science companies to seek guidance on the right path ahead and on determining which innovative technology to adopt, which start-up to partner with, and how best to integrate the same within existing workflows.’
The report states that, ‘PwC is focusing on accelerating its clients' innovation goals through innovative advisory work and complementary partnerships that enable the acceleration of new models. PwC will focus on recruiting top talent, partnering with industry leaders to deliver the best technology, and pushing operational boundaries and leveraging the practice's network to bring sponsors, regulators, retailers, and R&D service providers together to drive cost efficiencies and accelerate drug development.’
Commenting on PwC’s strengths, the report states, ‘PwC brings deep, life science industry-specific expertise to engagements to drive business transformation. 80% of PwC's engagements include an innovation component, one-fourth include an IP component, and a third include an AI component... PwC's ability to provide strategic direction ranges from driving organizational change to helping customers get key FDA programs approved. PwC brings to the table in-depth knowledge in diverse areas including clinical operations, commercialization, policy making, and innovative technologies ...’
The IDC MarketScape goes on to say that, ‘PwC's Business Consulting, eXperience Consulting, and Technology Consulting (BXT) approach follows an integrated strategy, focusing on financial feasibility, experimental agility, and iterative implementation to drive business transformation. Its ability to submit crisp data and succinct readouts, to drill down and to transition from strategy to execution, is valued. The efforts it invests in truly understanding the culture of an organization and the ability to drive organizational transformation, transitioning teams from a rigid mindset to critical thinking have made PwC a trusted partner.’
Glenn Hunzinger, Partner, Pharmaceutical and Life Sciences Consulting Solutions Leader, PwC US said: 'We are proud to be recognized as a Leader in the 2021 IDC MarketScape for Worldwide Life Science R&D Strategic Consulting Services. Pharmaceutical and Life Sciences companies are facing unprecedented challenges to continue to deliver break-through therapies in an expedited and more efficient manner globally and must have capabilities necessary to thrive in a complex healthcare environment. We are continually focused on advancing our clients' innovation goals through innovative solutions and complementary partnerships that enable the acceleration of new models in R&D.'
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of Information and Communications Technology (ICT) suppliers in a given market. The research methodology utilises a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the icons.
'The last 18-24 months have highlighted the criticality of investments in science and R&D innovation to drive improved health outcomes. PwC is proud to be at the forefront of the work our clients are doing everyday to generate the data and insights needed for delivering safe and effective medicines to patients globally.'
Global Lead, Analyst Relations, PwC United States
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