COVID-19 pandemic led to increase in emerging technology investments in pharma, finds survey

25 January 2021 (Last Updated January 27th, 2021 18:12)

The COVID-19 pandemic has led to an increase in investments in digital transformation and emerging technologies to deal with the shift towards remote working and mobility restrictions.

COVID-19 pandemic led to increase in emerging technology investments in pharma, finds survey

The COVID-19 pandemic has led to an increase in investments in digital transformation and emerging technologies to deal with the shift towards remote working and mobility restrictions.

GlobalData has conducted a survey among IT professionals in the pharmaceutical industry to assess the extent of change in investments in disruptive or innovative technologies in 2020.

Digital transformation_New technology and digital transformation investments in 2020

New Technology and Digital Transformation Investments in 2020

Investments in disruptive or innovative technologies in 2020 increased significantly, according to 31% of the professionals, as in-person interactions dropped and companies switched to digital tools for communication.

While 30% of the professionals saw a slight increase in investments, 22% opined that investment strategy didn’t change.

Further, 12% of the professionals said that there was a slight decrease in the amount of investment in emerging technologies, while 4% said that their technology investments declined significantly.

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