As pharma companies continue to scale up digital transformation processes, a survey by GlobalData has highlighted that teaming up with experienced external vendors is driving innovative technology implementation. Technologies such as 5G, IoT, sensors, blockchain, cloud and virtual/augmented reality were the top technologies for which pharma companies used external vendors, whereas they were more likely to develop artificial intelligence (AI), big data/analytics or robotics in house comparing to the rest of smart technologies.
The survey, which is published in this report, revealed that the majority of healthcare professionals would turn to external vendors to implement 5G to their processes, at 65% of respondents. This was followed by Blockchain at 55% and IoT and sensors at 50%. On the other hand, 28% of respondents would implement AI in house, followed by big data/analytics and robotics at 26% each.
Urte Jakimaviciute, Senior Director of Market Research at GlobalData, comments: “Implementing smart technologies into pharmaceutical processes requires substantial financial resources, time, and knowledge, especially since the speed of innovation is accelerating rapidly. As pharmaceutical companies continue to revamp their portfolios and digital transformation speeds up, partnering with technology providers becomes a natural step for the industry to take.
“Businesses are more likely to use external vendors to deploy technologies that are less widespread, have fewer use cases, or need to be implemented in short timeframes. While there is no way to slow down the digital transformation, a collaboration with external technology vendors may be a key to success.”
Jakimaviciute continues: “Partnering can enable not only faster adoption of the new technologies, but also bring substantial cost savings. External vendors tend to have specific domain knowledge, and are also fast to respond to any regulatory or compliance requirements that the pharmaceutical sector needs to adhere to.
“Pharma companies are already accustomed to working with external vendors to enhance processes in research and development (R&D), manufacturing and supply chain management. As the need to control the rising costs of pharmaceutical processes is becoming more pressing, leveraging smart technologies is expected to create more sustainable operational models and improve business agility. The companies that can optimize the processes faster are primed to succeed – this forces healthcare industry to pursue more open and collaborative approaches.”
In 2021, Boehringer Ingelheim signed a collaborative agreement with Google Quantum AI to implement quantum computing in pharma R&D; UCB and Microsoft announced a strategic collaboration to combine Microsoft’s computational services, cloud, and artificial intelligence (AI) with UCB’s drug discovery and development capabilities; Bristol Myers Squibb created a collaboration with Exscientia to use AI to accelerate the discovery.
In this Smart Pharma report, GlobalData examines the integration of smart technologies across the pharmaceutical industry value chain, assesses COVID-19 impact on the uptake of smart technologies in pharma and importance of partnering with technology vendors to enable a roll-out of innovative technologies.
A total of 155 GlobalData Pharma clients and prospects participated in the 10-minute survey, which was fielded from April 21, 2021 to May 18, 2021.
In this report, smart pharma refers to the incorporation of new technologies to improve and enhance processes such as drug development, manufacturing, supply chains, and sales and marketing.
Components of the report include:
- Adoption of Smart Technologies in Pharma — highlights the main challenges and benefits associated with implementation of smart technologies within the pharmaceutical industry providing respondent mix by region, and company size.
- Drug Discovery and Development – assesses the smart technologies that are expected to play a major role in optimizing drug discovery and development process and highlights the current and future technologies uptake.
- Manufacturing – examines the smart technologies that are expected to play a major role in optimizing pharmaceutical manufacturing process and highlights the current and future technologies uptake.
- Supply Chains – evaluates the smart technologies that are expected to play a major role in optimizing supply chains and highlights the current and future technologies uptake.
Sales and marketing – assesses the smart technologies that are expected to play a major role in optimizing sales and marketing process and highlights the current and future technologies uptake.
Pharma and Tech Collaborations – showcases how pharmaceutical industry is partnering with external technology vendors to increase the implementation speed, efficiency, and reliability of new technologies.
A Closer Look at Big Data and AI — highlights the importance of Artificial Intelligence and Big Data in pharmaceutical industry.
COVID-19 Impact – assesses the COVID-19’s impact on the acceleration of smart technologies uptake.
Reasons to buy
- Discover the benefits and challenges associated with integrating smart or innovative technologies into the pharmaceutical industry.
- Explore how smart technologies are transforming the pharmaceutical industry value chain and what impact on pharmaceutical sector these technologies will bring.
- Develop and design your corporate strategies by understanding which technologies are set to play the major role in transforming pharmaceutical value chain.
- Identify how pharmaceutical industry is partnering with external technology vendors to increase the implementation speed, efficiency, and reliability of new technologies.
- Stay up to date on the COVID-19’s impact on the acceleration of smart technologies uptake.
Table of Contents
1 Study Design
1.1 Respondent Mix
1.2 Objectives and Design
1.3 Respondent Profiles
2 Key Findings
2.1 Key Findings
3 Adoption of Smart Technologies in Pharma
3.1 Digital Transformation Strategies
3.2 Challenges Impact the Entire Pharma Value Chain
3.3 Smart Technologies Can Be Used to Help Address These Challenges
3.4 Benefits and Challenges of Smart Technology Integration
3.5 Challenges to Integrating Smart Technologies Into Pharma
3.6 Anticipated Impact of Incorporating Smart Technologies Into Pharma Value Chains
3.7 Drug Development to Benefit the Most From Smart Technologies
4 Drug Discovery and Development
4.1 R&D Productivity
4.2 Smart Technologies in Drug Discovery and Development
4.3 Smart Technologies in Drug Discovery and Development – Respondents’ Perspective
4.4 Increasing Number of AI-Based Drug Discovery Partnerships with Big Pharma
4.5 Case Studies
5.1 Smart Technologies in Manufacturing
5.2 The Future of Robotics in Manufacturing
5.3 Smart Technologies in Manufacturing – Respondents’ Perspective
5.4 Case Studies
6 Supply Chains
6.1 Smart Technologies in Supply Chains
6.2 The Future of the Blockchain in Pharmaceutical Supply Chains
6.3 Smart Technologies in Supply Chains – Respondents’ Perspective
6.4 Case Studies
7 Sales and Marketing
7.1 Smart Technologies in Sales and Marketing
7.2 Hiring Trends in Pharma Business Intelligence
7.3 Impact of COVID-19 on Physician Interactions with Pharma Sales Reps
7.4 Smart Technologies in Sales and Marketing – Respondents’ Perspective
7.5 Case Studies
8 Pharma and Tech Collaborations
8.1 Collaboration Between Pharmaceutical Industry and Tech
8.2 Case Studies
9 A Closer Look at Big Data and AI
9.1 Disruptive Emerging Technologies
9.2 Emerging Technologies – A Closer Look at AI and Big Data
9.3 Artificial Intelligence – A Closer Look
9.4 Big Data/Analytics – A Closer Look
9.5 Job Analytics Data – AI
9.6 Job Analytics Data – Big Data
10 COVID-19 Impact
10.1 Digital Transformation and COVID-19
10.2 COVID-19’s Impact on Technologies Uptake
11 Summary of Key Findings
11.1 Summary of Key Findings
12.2 Drug Development Scorecard – Artificial Intelligence
12.3 Key Themes Impacting the Pharmaceutical Industry
12.4 Our Thematic Research Methodology
12.5 About the Authors
13 Contact Us