Market Analysis
published on Aug 27, 2020
Report Overview:
NelsonHall’s “Impact of Digital on Pharmaceuticals Sector: 2020” 56-page report is based on global interviewing of senior executives across the Pharmaceuticals sector in four geographies: U.S., U.K., Continental Europe, and Asia Pacific.
The report identifies the principal business issues faced by Pharmaceuticals companies over the period 2020-2022, 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 companies by application and technology, together with the key benefits required from digital by Pharmaceuticals companies and their supplier selection criteria when purchasing digital services.
Who is this Report for:
NelsonHall’s “Impact of Digital on IT Services in Pharmaceuticals Sector: 2020” 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:
Pharmaceuticals organizations are placing a primary focus on increasing the efficiency of operations. This is, in part, supported by a modernization of the IT landscape. Two primary business priorities to do this, identified unprompted by pharmaceuticals companies were:
- Reducing costs in production, compliance, R&D, and administration
- Improving the time to market through improved efficiency in production and clinical trials
Accordingly, pharmaceuticals companies are:
- Implementing digital channels targeting services such as clinical trials administration and patient data management
- Expanding the use of analytics, cognitive and machine learning to attract and retain customers
- Migrating a larger proportion of the IT landscape to cloud environments and SaaS-based applications and consolidating legacy applications to reduce operating costs.