The pharmaceutical industry is undergoing constant changes resulting from declining profit margins, cost pressure, and the necessity to replenish pipelines and maximize peak sales, while at the same time meeting stringent regulatory and legislative requirements. Although digital transformation was seen as one of the ways to ease these pressures, the COVID-19 crisis is making digital transformation even more pressing. As the pandemic takes its toll on businesses, pharma is also forced to adopt to an ever-changing environment defined by supply chain disruptions, delays in clinical trials, evolving regulatory requirements, intense competition, lockdowns, and social distancing norms.
Technology is no longer viewed as enabling business, but as driving it. It is fundamental to number of operations and is changing the value chain in a disruptive way. As the new technologies are being adopted by the healthcare industry it is important to understand what opportunities and challenges they bring.
A total of 194 GlobalData Pharma clients and prospects participated in the 10-minute survey, which was fielded from September 17, 2020 to October 6, 2020.
The respondents who did not have a digital transformation strategy in place and were not working towards one were excluded from data analysis in this report, bringing the final respondent count to 156.
Components of the report include:
Scope of Digital Transformation Strategies — main objectives of digital strategy within the pharmaceutical industry providing respondent mix by region, company size, and respondent seniority.
COVID-19 Pandemic and Digital Transformation – assesses the impact of COVID-19 on the speed of digital transformation and innovation in pharmaceutical industry.
Challenges to Digital Transformation – highlights key hinderances healthcare organizations face when implementing digital transformation providing respondent mix by region and company size.
Important Factors for Digital Transformation – determines the key factors required to successfully implement digital transformation providing respondent mix by company size.
Uptake of Emerging Technologies – examines the key emerging technologies being invested in by healthcare organizations providing respondent mix by region and company size.
Impact of emerging technologies on pharmaceutical sector — provides the analysis and insights on how technologies are being applied in the healthcare industry and what improvements in business processes these technologies can provide.
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Table of Contents
1 Study Design
2 Key Findings
3 Overview of Digital Transformation
4 Digital Transformation Strategy
5 Digital Transformation Objectives
6 Obstacles to Digital Transformation
7 Concerns Associated with Digital Transformation
8 Necessities for Digital Transformation
9 Emerging Technologies Investment Trends
10 Summary of Key Findings
12 Contact Us