Paradigm Shift in R&D

Bringing new products to market has been costly, with low R&D efficiencies at the back of high risk of failure, pricing pressures, and a lengthy R&D path. Companies are finding new avenues to discover and conduct research to maximize ROI on their strategic assets with the help of digitalization, open innovation, and shared models. Companies are focusing on projects that could be eligible for a shorter R&D cycle and qualifies for quick regulatory approvals. The innovators are opening up for partnerships with companies that are into similar or other business segments, including close competitors.