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June 2, 2021updated 03 Jun 2021 4:14pm

Digital privacy and data security main concerns associated with digital transformation across geographies: Survey

Pharmaceutical companies continue to face several challenges when adopting new technologies despite the rate of digital transformation being accelerated following the COVID-19 pandemic.

GlobalData conducted a survey to identify the main concerns associated with digital transformation across different geographies in 2019 and 2020.

An analysis of the survey reveals that digital privacy and data security continue to remain the top concern for the industry followed by unclear return on investment.

In Asia Pacific region, around 50% of the respondents said that digital privacy and data security is their main concern in 2020. The figure doubled from 25% in 2019.

Digital privacy and data security main concerns associated with digital transformation across geographies

A Closer Look at Concerns,2019 vs. 2020 by Geography

However, the percentage of respondents who had the same concern dropped from 37% in 2019 to 33% in 2020 in North America, and from 55% in 2019 to 38% in 2020 in Europe.

The percentage of respondents who expressed concerns regarding unclear return on investment jumped from 9% to 26% in Europe, while dropping marginally from 26% to 22% in North America and remaining steady at 14% for Asia Pacific.

In 2020, 13% of the respondents in North America expressed concerns related to increased cyber risks, followed by 13% in Europe and 7% in Asia Pacific. A year ago, the figures were 15%, 9% and 25% respectively.

The survey also found that the percentage of respondents who expressed concerns regarding evolving regulatory requirements doubled from 7% in 2019 to 14% in North America in 2020.

The percentage of respondents who had similar concerns declined in the other two regions on a year-on-year basis, dropping from 21% to 6% in Europe and from 25% to 7% in Asia Pacific.

In 2020, around 10% of the respondents in Europe highlighted never ending change due to digital transformation as their primary concern. The percentage increased from 6% recorded in 2019.

The same concern declined from 13% in 2019 to 7% in 2020 in Asia Pacific, while it remained stable at 11% in North America.

Around 7% of respondents from Asia-Pacific, 5% from North America and 3% from Europe cited other concerns in 2020.

Additionally, approximately 7%, 4% and 2% of respondents from North America, Europe and Asia-Pacific responded that they did not have any concerns regarding digital transformation in 2020.

The responses are based on Digital Transformation and Emerging Technology in the Healthcare Industry, 2020 survey fielded between 17 September and 06 October 2020.

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