ICT investment trends in pharmaceuticals
Factors such as emerging markets, drug accessibility, and new product launches are driving the growth of the pharmaceutical industry
However, enterprises look for technological innovation as a means of tightening overall expenditure and are looking to increase their ICT investment to aid “beyond the pill” pharmaceutical services such as apps and wearables
Pharmaceuticals has been one of the fastest-growing industries; however, in the last few years the sector has been witnessing constant growth, owing to factors such as the slow adoption of some new products and lower pricing flexibility.
Kable’s survey shows that overall ICT expenditure in the pharmaceutical sector is set to increase in 2016 compared to 2015, with a current focus on the core ICT categories of hardware, software, and IT services.
Pharmaceutical companies are continuously looking to improve scalability and reduce cost of ownership. Consequently, they are investing in cloud computing solutions, with the majority of the cloud budget allocated towards software as a service (SaaS) and private cloud.
This report presents the findings from a survey of 70 pharmaceutical companies regarding their Information & Communications Technology (ICT) investment trends. The survey investigates how companies currently allocate their ICT budgets across the core areas of enterprise ICT expenditure: hardware, software, IT services, communications, and consulting. The report illustrates the core technologies that pharmaceutical companies are investing in, including enterprise application, network services, IoT, and cloud computing. The survey also highlights the approach to purchasing technology adopted by pharmaceutical companies. Through Kable’s survey, the report aims to provide a better insight to ICT vendors and service providers when pitching their solutions to pharmaceutical companies. The report focuses on ’ ICT expenditure trends for specific business areas and technologies, identifying the top three IT projects, and understanding the business challenges faced by organizations.
In particular, it provides an in-depth analysis of the following:
How ICT budgets are set to change in 2016 in terms of their overall size
Allocation across the core elements of IT spend, including hardware, software, services, communications, and consulting
Distribution of ICT money in areas such as the networks, applications, service desk, and data centers
Which ICT functions pharmaceutical companies are interested in outsourcing
pharmaceutical companies’ investment priorities based on their budget allocations across core technology categories such as IoT, cloud computing, business intelligence, and security products
Factors that are influencing pharmaceutical companies’ investments in each technology category
How pharmaceutical companies’ IT budgets are currently allocated across various segments within a technology category
pharmaceutical companies’ distribution of their ICT budget across various segments within a technology category
Vendor satisfaction ratings for various core and advanced technology categories
Insight into pharmaceutical companies’ preferred buying approaches
Business and IT objectives that pharmaceutical companies are looking to achieve through their IT investment strategies
Factors that are influencing pharmaceutical companies’ decisions to select an ICT provider
Reasons To Buy
Understand how the pharmaceutical companies ICT landscape is set to change in 2016 to prioritize your target market
Comprehend how ICT money are being allocated by pharmaceutical companies in specific geographies and size bands to improve your market penetration
Make effective business decisions by recognizing the opportunities within each of the core areas of ICT spend (hardware, software, IT services, telecommunications, and consulting)
Realign your sales initiatives by understanding the current strategic objectives of pharmaceutical companies
Enhance your market segmentation with the included, detailed breakdown of opportunities within selected technology categories (enterprise application, network services, IoT, and cloud computing)
Prioritize your focus areas by understanding which factors are influencing pharmaceutical companies ’ decisions when selecting an ICT provider
Understand the changes in customers’ priorities and identify the business and IT objectives that pharmaceutical companies are looking to achieve through their ICT investment strategies