Digital Transformation and Emerging Technologies in the Healthcare Industry 2024 Edition

Digital Transformation and Emerging Technologies in the Healthcare Industry 2024 Edition

Summary

The pharmaceutical industry is facing ongoing shifts driven by declining profit margins, increasing cost pressures, and the need to both replenish pipelines and maximize peak sales, all while adhering to strict regulatory and legislative requirements. Although adopting innovative technologies is seen as a key strategy to mitigate these challenges, the digitalization process is complex, time-consuming, and requires significant investment, along with sustained commitment and transparent dialogue with various stakeholders, including employees, investors, and regulators.

In this report, GlobalData examines the progress of digital transformation in the pharmaceutical industry. It assesses the industry's preparedness to embrace innovation, explores the challenges and opportunities associated with digital transformation as well as highlights current and emerging trends in technology-related investments.

• The pharmaceutical industry is experiencing steady advancement in digital transformation.
• Mirroring 2023 survey findings, operations enablement and innovation was selected as the main scope of digital transformation in 2024.
• Optimism regarding the growth of digital transformation in their organizations reached record highs among the pharma industry professionals.
• In line with previous years’ results, lack of specific skills and talents was selected as the top hinderance for digital transformation.
• Digital privacy and data security issues have ranked as the top concern associated with digital transformation, closely followed by cybersecurity concerns.
• Strong leadership was regarded as the key driver for a successful digital transformation.
• Pharma industry professionals are prioritizing artificial intelligence (AI) for current and future investments.
• Digital transformation is a must for maintaining competitive advantage in the pharmaceutical industry.

Scope

• Benchmark the level of business readiness and technology adoption.
• Gain a deeper understanding of the business functions affected the most by digital transformation.
• Identify and assess barriers to adopting emerging technologies.
• Define the critical requirements for success.
• Determine the importance of emerging technologies to the pharmaceutical industry.
• Evaluate current levels of investment and identity both present and future investment priorities.
• Analyze the impact of COVID-19, inflation, and other factors on digitalization efforts.
• Explore the impact of emerging technologies on the pharmaceutical value chain.
• Assess the role of digital transformation in sustaining competitive advantage.

Reasons to Buy

• Stay up to date on the scope, challenges, and essentials for the digital transformation within the healthcare industry.
• Explore how innovations are transforming the healthcare industry and what impact on the sector these technologies will have in the near future.
• Develop and design your corporate strategies through an in-house expert analysis of the key factors of digital transformation and emerging technology in the healthcare sector.
• Develop business strategies by understanding the key factors of digital transformation and emerging technology in the healthcare sector.
• Identify emerging industry trends in the uptake of emerging technologies to gain a competitive advantage.