Nov 2018 - IDC Perspective - Doc # AP44350318
Digital Transformation in the Pharmaceutical Industry — A Journey Through Value Chain
By: Manoj VallikkatResearch Manager, Sampath Kumar VenkataswamyResearch Manager, Anjali Kumari, Gerald WangHead, Asia Pacific Public Sector, Jing Bing ZhangResearch Director, IDC Worldwide Robotics, Christopher HolmesManaging Director - IDC Insights Asia Pacific
This IDC Perspective provides a picture of the various technological tools that can be adopted in various stages of the value chain by pharmaceutical companies as they go for digital transformation. The regional readiness for the transformational adoption has been confirmed by analyzing a set of regional countries on the government drive and data protection policy in place. Use cases were discussed to provide a better visualization of the emerging tools. As pharmaceutical leaders are busy strategizing their future, IDC's advice for technology buyers would be a good guidance.
"Pharmaceutical companies are facing two major challenges: first, to meet the "digital consumer" demand for faster, patient-centric, outcome-based medicines; and second, to attain these demands at reduced drug prices. The only way to tackle both challenges is to adopt digitalization or digital transformation across the value chain. This could well be achieved as pharmaceutical leaders take digital disruption as an opportunity and not as a risk," says Manoj Vallikkat, research manager, Healthcare Insights, IDC Asia/Pacific.
3D printer, Analytic applications, Augmented and virtual reality, Blockchain, Cognitive/artificial intelligence, Governance, risk and compliance infrastructure, Internet of things, Supply chain management applications, Technology buyer