The Harvey Nash / KPMG CIO Survey is the largest IT leadership study in the world. This pharmaceutical industry sector snapshot provides survey responses from 34 pharmaceutical companies on key topics and highlights several areas where this sector’s responses were significantly different from those from across all industries.
Technology in pharmaceuticals faces two competing pressures: requirements to decrease costs as margins are squeezed; and competition from non-traditional healthcare industries using digitally focused business models enabled by disruptive technologies. Although constantly under pressure to cut costs, pharmaceutical companies are looking to leverage disruptive technologies, including Internet of Things (IoT) and MedTech, to create new revenue generating commercial models and corresponding services. Additionally, an increased focus on data protection in key markets such as North America and Europe manifests itself in the CIO’s concerns about legal and regulatory issues and privacy risks.