With the COVID-19 pandemic, most pharma companies are re-evaluating their operations and customer access. GlobalData’s latest report, Digital Transformation and Emerging Technology in the Healthcare Industry – 2020, shows that embracing the digital transformation will help pharma companies to overcome existing and long-term business challenges, seizes opportunities, and continues to thrive in the challenging business landscape.
Social Media and Cloud Computing
According to GlobalData’s report, social media and cloud computing became the most dominant technologies for current investments for pharma companies, with respectively 60% and 56% industry professionals confirming this trend. The lockdowns, movement restrictions and social distancing norms changed the traditional sales and marketing methods rapidly. It also forced companies to embrace more digital methods. Now the companies are focusing on digital and social media campaigns to create remote yet personalized and tailored messaging for patients and physicians alike. Urte Jakimaviciute MSc, Senior Director of Market Research, GlobalData Healthcare, said,
“Comparing to 2019 data, the percentage of companies investing in social media and cloud computing has grown by more than 20%. On the other hand, investments in artificial intelligence and big data, the main ongoing investment targets in 2019, were down by more than 10%. This suggests that these investments were put on hold to allow organizations to concentrate on current business needs.
Despite already being an essential strategic initiative, digital transformation has taken on heightened importance due to the COVID-19 pandemic. The virus provided pharma companies with a chance to critically reflect on the new ways to drive value in business. Technologies such as cloud computing, cybersecurity and digital platforms are facilitating processes such as remote working or decentralized clinical trials, while social media has become a powerful tool to ensure better customer reach.”
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