A catastrophic start to the 2020s has triggered a permanent redrawing of the pharma and healthcare landscape. Not surprisingly, most attention has been focused on the sector’s race to vaccinate the world before COVID-19 variants inflict too much more damage. But another seismic shift in the pharma business has been a rapid evolution in the use of digital technology.
This point was highlighted in a recent survey by GlobalData which found that 35% of pharmaceutical industry professionals believe COVID-19 sped up digital transformation in the pharma industry by more than five years.
From the rapid rollout of telehealth to an increased use of AI in drug development and distribution, tech is now influencing strategy at every tier of the pharma ecosystem.
Whether it’s decentralised clinical trials, digital therapeutics, or remote sales and marketing processes, changes that may have taken years to introduce have been driven through in weeks or months.
While the speed of this course correction is impressive, many pharma companies are inadequately prepared for such a rapid transition. Becoming a digitally-powered enterprise requires a series of cultural and organisational modifications that most businesses haven’t yet got to grips with.
In my latest PharmaTimes article, see what companies that want to ensure this pandemic-inspired surge towards tech is sustainable in the long term should embrace to thrive in the Post-COVID world.