How can IoT improve the value-creating landscape within the Nordic life science industry?
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Typ
Examensarbete för masterexamen
Program
Publicerad
2022
Författare
Randelin, John
Wallin, Kristoffer
Modellbyggare
Tidskriftstitel
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Volymtitel
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Sammanfattning
Internet of things (IoT) is currently driving a new age of digital innovations
within life science by facilitating digital transformation and progressive care.
However, the IoT technology is also associated with significant challenges for
organizations. These challenges do pose a risk of negative impact on business,
and severe complications for individuals and patients, if not understood and
addressed properly.
This study is examining the value-creating landscape within the Nordic life
science industry, and how it is affected by IoT as an emergent technology.
Previous research on the subject demonstrates a lack of empirical studies
examining the Nordic market and calls for additional empirical examinations
that can help explain IoT’s potential and implications on life science busi-
nesses. We conducted a qualitative study based on interviews with experts
in the field, focusing on two research questions. The first research question
is examining social and economic value derived from IoT within the Nordic
life science market, while the second research question targets challenges as-
sociated with IoT within the Nordic life science market.
Several opportunities for IoT to create social and economic value within life
science have been identified. A selection of these includes improved diag-
nostics, individualized care, knowledge about product usage, and decision
support. Our findings do also affirm several challenges for the technology,
where the main obstacles are found to be high regulatory demands and con-
servatism within the life science industry. Additionally, technical challenges
associated with the IoT technology such as connectivity and cyber security
issues are also significant.
Beskrivning
Ämne/nyckelord
Internet of Things , life science , medical equipment , Nordic life science , pharmaceutical industry , digitalization , value creation