With the Pharmaceutical Industry constantly evolving due to globalization, consolidation and regulatory compliance, we see the industry looking at new competing challenges, including:

• Greater supply chain complexity,
• Need for pricing reforms as the cost pressure from payers continue to increase and the changing demands
• Expectations of patients
• Seeking a greater role in their own care

According to Deloitte’s report on measuring the return from pharmaceutical innovation, the annual projected R&D returns along with the peak sales per asset have been declining for the past few years. However, on a positive note, we saw smaller firms continue to outperform the larger ones.

As smaller firms are able to leverage technology to enhance their agility, digitization holds tremendous potential in helping companies adapt. By applying the latest IT trends:

• Pharma companies can considerably increase visibility in their supply chain operations
• Manage and assess the results of personalized medicine delivery
• Determine the direction of product development
• Improve operations by making them more adaptive and responsive.

Cloud is a key pharma industry trend enabling the pharma industry to meet the changing consumer needs.

Cloud for Pharma

With Cloud, pharma companies can develop a single integrated network that makes collaboration on a global level easier across different IT architectures or ERP systems, making networks more scalable. Cloud based IT Infrastructure can enable rapid computing for different types of data and systems from the physical network across all nodes of the supply chain.

By partnering with a cloud solution provider (CSP), pharma companies can work to customize and implement a secure and effective cloud-based Enterprise Quality Management (EQM) Strategy

According to Deloitte’s fourth annual survey of mid-market technology, nearly 40 percent of executives expect the greatest productivity gains will come from investments in cloud infrastructure. The scalability and agility that a cloud solution offers can help pharma companies with their R&D, clinical research and cost savings.

source: https://www.dincloud.com/blog/digital-it-trends-in-pharma