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March 9, 2021updated 03 Feb 2022 9:11am

COVID-19 accelerated digital transformation of the pharma industry by five years: Poll

Digital transformation in the pharmaceutical industry is crucial for improved patient care, cost-effectiveness, greater transparency, improved production, and drug development.

Digital transformation in the pharmaceutical industry is crucial for improved patient care, cost-effectiveness, greater transparency, improved production, and drug development.

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What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
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Verdict has conducted a poll to assess by how much time the COVID-19 pandemic has accelerated the digital transformation of the pharmaceutical industry.

COVID-19 accelerated digital transformation of the pharma industry by five years

Analysis of the poll results shows that COVID-19 has fast-forwarded digital transformation of the pharma industry by more than five years, as opined by a majority 35% of the respondents.

While 30% of the respondents voted that the pandemic accelerated digital transformation by more than six years, 5% voted that digital transformation was accelerated by five to six years.

Digital transformation of the pharma industry has been accelerated by two to three years and three to four years, according to 9% and 8% of the respondents, respectively.

Further, 8% of the respondents voted that digital transformation of the pharma industry has been accelerated by four to five years.

Approximately 27% of the respondents opined that COVID-19 has accelerated the digital transformation of the pharma sector by less than one year.

The analysis is based on 482 responses received from the readers of Pharmaceutical Technology, a Verdict network site, between 20 January and 01 March.

Impact of COVID-19 on digital transformation of the pharma industry

The COVID-19 pandemic impacted the pharmaceutical industry in many ways by delaying routine treatments, straining healthcare budgets, derailing drug development for non-COVID related diseases, and causing supply chain disruptions. The pharmaceutical industry was forced to adopt various digital technologies to overcome the challenges posed by the pandemic.

Technologies such as cloud computing and cybersecurity helped the industry adopt remote working and perform decentralised clinical trials, according to GlobalData. Companies need to adopt digital technologies according to the business needs and develop a robust digital transformation strategy before investing in new technologies, adds GlobalData.

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Free Whitepaper
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What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

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