Change is coming to the regulatory landscape in the life sciences sector. There is a lot of uncertainty as the market shifts and stakeholders try to understand the changes coming—making the need to plan more urgent than ever. From increased scrutiny of data integrity to the tracking of medicinal products, to changing political landscape and policy changes, today’s shifting regulatory priorities will need to be front and center as you develop your compliance strategies, actions, and investments in 2021 and beyond.
The Office for Life Sciences has pledged to increase R&D spending to 2.4% of GDP by 2027, with a goal of bumping this budget up in the future. As the life sciences industry advances at pace, so too does the regulatory environment in which it operates. In recent years we’ve seen an increasingly complex landscape of regulation in life sciences, with changes in science and technology creating opportunities as well as challenges when it comes to working in the industry.
Many life science organizations continue to develop risk and compliance initiatives despite ongoing regulatory uncertainty and the looming question of how Covid-19 will impact the sector.
Regulation in the life sciences industry aims to not only ensure the safety and efficacy of products, but also to ensure innovative therapies can pass through investigative and regulatory processes as quickly as possible. The challenges of this are myriad, particularly as technology continues to develop and scientific breakthroughs change the way drugs and devices are manufactured.
As more products become more complex, regulators must establish the best – and quickest – ways to evaluate them. These products include digital pills, connected medical devices and new molecular entities – all of which have the potential to improve public health if introduced to market safely and efficiently.
All of this rapid development and change means the regulatory landscape must acquire new skills and talent in order to meet market demand and stay ahead of the curve. This is great news for life sciences candidates who are prepared to up skill and adapt to changes in the market.
We present to you, “Top 10 Regulatory Services Companies - 2022.”