CLOSE

Specials

  • March
  • June
  • September
  • Bioanalytical Services
  • Life Science Analytics
  • Life Science Compliance
  • Bioanalytical Services APAC
  • APAC
  • Europe

I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

Skip to: Curated Story Group 1
lifesciencesreview
US
APAC
  • Home
  • News
  • Contributors
  • Magazine
  • Conferences
  • Newsletter
  • About

Thank you for Subscribing to Life Science Review Weekly Brief

  • Home
  • News

Recommended picks

Must-Know Biotechnology Trends in 2021

Must-Know Biotechnology Trends in 2021

Top Biotech Developments to Watch for

Top Biotech Developments to Watch for

Using AI to Prevent Adverse Effects of Immunotherapy

Using AI to Prevent Adverse Effects...

Ehave, Inc. Uses Artificial Intelligence And Machine Learning for Big Data Management in Mental Health Care

Ehave, Inc. Uses Artificial...

The Role of Technology in the Biotech Sector

The Role of Technology in the Biotech...

Cyberattacks in Hospitals

Cyberattacks in Hospitals

How AI Can Enhance the Prediction of Immunotherapy

How AI Can Enhance the Prediction of...

How Technology is Reshaping Immunotherapy

How Technology is Reshaping...

Must-Know Biotechnology Trends in 2021

Must-Know Biotechnology Trends in 2021

Top Biotech Developments to Watch for

Top Biotech Developments to Watch for

Using AI to Prevent Adverse Effects of Immunotherapy

Using AI to Prevent Adverse Effects...

Ehave, Inc. Uses Artificial Intelligence And Machine Learning for Big Data Management in Mental Health Care

Ehave, Inc. Uses Artificial...

The Role of Technology in the Biotech Sector

The Role of Technology in the Biotech...

Cyberattacks in Hospitals

Cyberattacks in Hospitals

How AI Can Enhance the Prediction of Immunotherapy

How AI Can Enhance the Prediction of...

How Technology is Reshaping Immunotherapy

How Technology is Reshaping...

What are the Roadblocks to Digitalization of Biopharmaceutical Industry?

By Jeremy Williams, Life Science Review | Sunday, January 24, 2021
Tweet

The biopharmaceutical industry believes that digitalization will help the companies to achieve their strategic imperatives.


Fremont, CA: The large-scale adoption of digital capabilities is lagging, but executives see the potential value of digitalization throughout R&D. Meanwhile, a significant risk aversion to large-scale adoption of digitalization, particularly among the largest companies, is witnessed. Also, digital tools and platforms are becoming more integral in how do the companies collaborate, analyze, and manage data as well as enhance the patient experience.


In a report, the executives stated that they are experiencing opportunities for these digital capabilities to achieve real, measurable value in the organization. The majority of the respondents says that using real world data throughout R&D will improve the decision-making, and some believe that the ability to manage data in a better way across the enterprise may deliver measurable business value.


Most of this potential value lies ahead on the basis of the current level of digital adoption. A few respondents said that they had gained their desired state of digitalization, which is not very surprising because it requires significant investment, the right talent, and generally involves major organizational change.


These barriers then add to the risk aversion, which was noted as one of the most substantial barriers to adoption, especially in more prominent organizations.


 


Here are three roadblocks to digitalization.


• R&D functions are often going it alone- Digitalization is being implemented in silos and is being driven by individual R&D functions. Most of the executives say that digitalization is happening in silos inside their organizations, rather than across functions, throughout R&D, or the entire enterprise.


• Lots of pilots, but few successes at scale- Companies are adopting a cautious and incremental approach to digitalization, with many digital pilots, proofs of concept, and minimum viable products. Together these amount to sizeable investments in digital transformation, but this focus on special use cases rather than the broad relevance, with repeatability and extensibility, means that companies are not able to understand the payoff of digitalization at scale.


• Metrics are needed to measure impact and justify the investment- According to the executives, they struggle to measure the success of digitalization, and without clear metrics, it isn't easy to assess the success of previous investments and justify the potential impact of new investments in emerging technologies. Being able to demonstrate and quantify the value of an initiative is essential, especially when technology adoption means disrupting a currently functioning process.


See also: Top Biotech Solution Companies


Weekly Brief

loading
Towards a New World Order
> <
  • Other 2021

    Top Vendors

    Current Issue
  • Other 2020

    Top Vendors

    Current Issue

Read Also

Critical Bioanalytical Challenges of ADCs

Critical Bioanalytical Challenges of ADCs

Must-Know Biotechnology Trends in 2021

Must-Know Biotechnology Trends in 2021

Top Biotech Developments to Watch for

Top Biotech Developments to Watch for

Importance of Biomarkers in Drug Development

Importance of Biomarkers in Drug Development
Using AI to Prevent Adverse Effects of Immunotherapy

Using AI to Prevent Adverse Effects of Immunotherapy

Ehave, Inc. Uses Artificial Intelligence And Machine Learning for Big Data Management in Mental Health Care

Ehave, Inc. Uses Artificial Intelligence And Machine Learning for Big Data Management in Mental Health Care

The Role of Technology in the Biotech Sector

The Role of Technology in the Biotech Sector

Why Partner with Bioanalysis Experts?

Why Partner with Bioanalysis Experts?
Loading...

Copyright © 2021 Life Science Review . All rights reserved. |  Subscribe follow on linkedin

This content is copyright protected

However, if you would like to share the information in this article, you may use the link below:

https://www.lifesciencesreview.com/news/what-are-the-roadblocks-to-digitalization-of-biopharmaceutical-industry-nwid-73.html