Market Analysis
published on Jan 16, 2018
Report Overview:
NelsonHall’s “Impact of Digital on IT Services in the Pharmaceuticals Sector: 2018” 48-page report is based on global interviewing of senior executives across Pharmaceuticals sector in four geographies: U.S., U.K., Continental Europe, and Asia Pacific.
The report identifies the principal business issues faced by Pharmaceuticals firms over the period 2017-2019, the IT and digital initiatives planned in response to these issues, and their anticipated changes in IT spend and sourcing.
In particular, the report analyzes the importance of digital to Pharmaceuticals firms and focuses on the nature of the digital initiatives planned by Pharmaceuticals firms by application and technology, together with the key benefits required from digital by Pharmaceuticals firms and their supplier selection criteria when purchasing digital services.
Who is this Report for:
NelsonHall’s “Impact of Digital on IT Services in the Pharmaceuticals Sector: 2018” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the Pharmaceuticals sector
- Vendor marketing, sales and business managers developing strategies to target IT services (ITS) opportunities within the Pharmaceuticals sector
- Financial analysts and investors specializing in the IT services and BPS sector.
Scope of this Report:
The report is based on interviews with executives in the Pharmaceuticals sector in the U.S., U.K., Continental Europe, and Asia Pacific.
The report analyzes the worldwide market for IT services within the Pharmaceuticals sector and addresses the following questions:
- What are the principal business priorities faced by organizations in the Pharmaceuticals sector?
- What IT initiatives are planned by organizations in the Pharmaceuticals sector?
- How relevant are digital initiatives to organizations in the Pharmaceuticals sector?
- What digital initiatives are planned by organizations in the Pharmaceuticals sector?
- What business areas are targeted for digital initiatives by organizations in the Pharmaceuticals sector?
- What digital technologies are planned to be introduced by organizations in the Pharmaceuticals sector?
- What are the key selection criteria used by organizations in the
- Pharmaceuticals sector to select suppliers to implement digital initiatives?
- What shifts in sourcing approach are expected by executives in the Pharmaceuticals sector over the next three years?
- How do companies in the Pharmaceuticals sector expect their spend on ITS services to change over the next three years?
Key Findings & Highlights:
As always, pharmaceuticals companies need to improve their R&D success rates while reducing their R&D spend and, given the time taken in clinical trials, reduce their time to market. Beyond their R&D expenditure, pharmaceuticals companies also need to reduce their costs more widely across sales & marketing and administration, particularly their cost of financial reporting.
Eighty percent of pharmaceuticals companies see digital as highly relevant to their industry, so there is significant focus on using digital solutions to improve their timeliness in getting products to market, as well as reducing operating costs. In particular, pharmaceutical companies are:
- Continuing to need to launch new products more quickly and cost effectively
- Expanding use of digital to improve R&D collaboration and increase cost efficiency in administrative processes
- Modernizing application landscapes and redeploying IT expenditure through retiring legacy applications, and migrating to SaaS and cloud
- Increasingly using niche specialist vendors with business knowledge and an ability to use a pharmaceuticals business perspective to applying digital.