Big data is transforming the pharmaceutical sector, enabling innovation and efficiency improvements through technologies such as nanobody compositions and genetic data analysis systems. These advancements promise more efficient drug discovery, personalized healthcare solutions, and optimization of pharmaceutical processes, while also influencing innovation and investment trends across multiple industries. The impact of big data extends beyond the pharmaceutical industry, influencing various sectors and driving innovation, investment, and hiring trends. GlobalData’s data and analytics market report provides comprehensive analysis, historical figures, and revenue forecasts for various product and service types, including the big data platform. Buy the report here.
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This article presents a quarterly round-up of the latest trends in the pharmaceutical industry regarding big data. It provides an overview of recent developments in big data-related deals, talent acquisition, and patent filings within the pharmaceutical industry.
Diverse applications of big data in pharmaceutical industry
Pharma companies are leveraging big data technologies to innovate and improve their businesses, as seen in the latest patents. For example, F. Hoffmann-La Roche Ltd has patented a method for predicting tumor phenotypes using genomic analyses, leading to personalized treatment strategies. Thrive Bioscience Inc's patent on instrument resource scheduling enhances cell culture growth through automated scheduling and operation of resources. PHAGELAB CHILE SPA's patent focuses on designing phage therapy cocktails using machine learning algorithms. Eppendorf SE's patent introduces an object tracking system in live cell culture incubators. These advancements in big data technologies enable faster drug discovery, personalized treatments, and improved research efficiency, ultimately benefiting the acquirer by accelerating innovation and reducing costs in the pharmaceutical industry.
The industry experienced a 5% decline in the number of big data-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of big data-related patent applications in the pharmaceutical industry witnessed a drop of 64% compared with Q1 2023.
Strategic deal trends in big data in pharmaceutical industry
Pharmaceutical companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in big data. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of big data in the pharmaceutical industry.
In Q1 2024, the number of big data-related deals in the pharmaceutical industry grew by 52% compared with Q1 2023. On a quarterly basis, there was 47% increase in the number of deals in Q1 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q1 2024, the pharmaceutical industry experienced a 23% growth compared with the previous quarter. On an annual basis, job postings also declined by 20%. Notably, management occupations, with a share of 21%, emerged as the top big data-related job roles within the pharmaceutical industry in Q1 2024, with new job postings rising by 9% quarter-on-quarter. Life, physical, and social science occupations came in second with a share of 17% in Q1 2024, with new job postings rising by 32% over the previous quarter. The other prominent big data roles include computer and mathematical occupations with a 16% share in Q1 2024, and business and financial operations occupations with a 4% share of new job postings.
Johnson & Johnson, AstraZeneca, Merck, Pfizer, and F. Hoffmann-La Roche are among the top companies leading in big data hiring within the pharmaceutical industry.
Countries driving adoption of big data in pharmaceutical industry
The US is the leading country in big data adoption within the pharmaceutical industry, boasting the highest number of big data-related patents, jobs, and deals. Meanwhile, the UK, Canada, China and Germany also maintain significant positions in big data adoption within the pharmaceutical industry.
In conclusion, big data remains a catalyst for innovation and strategic partnerships in the pharmaceutical industry, as evidenced by recent patent filings and deal trends, with the US leading the adoption. The surge in job postings reflects the industry's increasing demand for skilled professionals in big data-related roles.
To further understand GlobalData's analysis on big data in the pharmaceutical industry, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData patent analytics tracks patent filings and grants across companies and themes. Proprietary databases on deals and job analytics are used to respectively monitor global deal activity and uncover insights from daily job postings to identify trends, company activities, and industry dynamics across different sectors globally.
