The pharmaceutical industry continues to remain concerned about digital privacy and data security despite growing importance of digital transformation in post-COVID-19 world.
GlobalData conducted a survey on pharmaceutical industry professionals to identify the main concerns associated with digital transformation in 2019 and 2020.
A Closer Look at Concerns, 2019 vs. 2020
The survey found that digital privacy and data security continue to remain the primary concern for the industry in 2020 albeit at a lower rate.
In 2020, around 35% of the respondents opined that digital privacy and data security is their central concern. The figure was 42% in 2019.
The concerns regarding unclear return on investment jumped from 15% in 2019 to 23% in 2020.
In the same time period, the concerns regarding increased cyber risks remained largely stable, decreasing by one percentage point to 13% in 2020.
Around 11% of the respondents feared never-ending change due to digital transformation as the top concern in 2020. The figure was 8% a year ago.
The concerns regarding evolving regulatory requirements declined from 17% in 2019 to 10% in 2020.
Around 4% of the respondents stated other concerns in 2020. This was 3% in 2019.
The responses are based on Digital Transformation and Emerging Technology in the Healthcare Industry, 2020 survey fielded between 17 September 2020 and 6 October 2020.