The global pharmaceutical industry is changing in promising and challenging ways. Advancement in research and development (R&D) and innovation in process development will be essential in shaping the pharmaceutical sector. Cloud computing can facilitate faster innovation for addressing the challenges in the pharmaceutical industry. Basically, cloud computing is the hosting of data and applications on virtual or internet-based servers. When offered by a third party vendor, typically within the vendor’s own data centers, they are referred to as cloud managed services and can include data aggregation and migration, security, backup and disaster recovery, and even analytics. Cloud software solutions help in the pharmaceutical industry in several ways. Benefits such as improving the quality of data to support sales or providing practical ways for clinical trial site managers to communicate across wide geography expects to grow cloud computing in pharmaceutical market after implementing Cloud computing.
Cloud computing in research and development (R&D), in clinical trials, and personalized medicine are the major growth drivers for cloud computing in pharmaceutical industry. Research and development are a complex area due to big data, industry regulations, and security requirements. R&D requires the recording, storage, processing, and analysis of massive amounts of clinical data. To cope with this major application platform, technology in the cloud can help R&D by unifying fragmented processes and siloed data. Further, data security can be achieved with a hybrid of cloud and on-premises implementations. Certain cloud platforms have additional security and compliance measures that can instill complete confidence in the transformed development process. Clinical trials enabled by the cloud is driving the growth of the market in recent years. Implementing a cloud solution in the clinical trial stage of development helps to improve the quality and increase the consistency of data in clinical trials. Cloud technology also improves communication across geographic regions and reduces time-to-market, remaining transparent and compliant throughout.
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Furthermore, cloud computing helps sales force by providing accurate and up to date information about stocks of the product, physicians contact details, social media networks they favor, and whether their practices are accepted, and very importantly, helps in avoiding duplication. Along with this, other benefits cloud computing offers in the pharmaceutical industry are cost savings, scalability of service, and new classes of services and applications. Also, the emergence of value-based care and personalized medicine are advancing the pharmaceutical industry. Cloud computing software, such as remote monitoring algorithms, developed specifically to a chronically ill patient’s unique symptoms and that detect deterioration in advance of an acute event. However, a concern with cloud computing in pharmaceutical industry is the security of sensitive information as pharmaceutical companies hold vast amounts of sensitive data, including intellectual property and patient information.
April 13, 2017- Merck, American pharmaceutical company, launched the Alexa Diabetes Challenge software application that uses Amazon’s Alexa technology to help patients with a recent diagnosis of Type 2 diabetes.
March 23, 2016- The strategic framework agreement between Huawei, leading global information and communication provider, and WuXi appTech, the global open-access R&D platform on precision medicine cloud platform, to support the China Precision Medicine Initiative (China PMI).
North America is a very prominent region for cloud computing in the pharmaceutical market due to advancement and innovation pharmaceutical industry. Increased adoption of information technology in the pharmaceutical industry is a key driver for the North American market. U.S. government’s push for including IT in pharmaceutical and high healthcare expenditure is also boosting the growth of the market in this region. In addition, there is a significant opportunity for the market due to increase in the population that consumes three times more drugs than younger consumers, expansion into developing regions, and an overall increase in human lifespans. Major companies are adopting cloud computing in the organization such as Merck and Pfizer. Pfizer, for instance, has selected Oracle Health Sciences InForm Cloud Service and Siebel Clinical Trial Management System Cloud Service to help simplify how it manages both operational and study data, for in-house as well as outsourced trials.
Europe is one of the most promising regions for cloud computing in the pharmaceutical market. Adoption of Cloud computing software in many pharmaceutical companies is growing rapidly. As an example, GSK deploys all email and collaboration technology in the Microsoft cloud. Factors such as reducing costs, going green, flexibility and scalability are driving the growth of the market in the European region. Moreover, regulators in the European market are increasing their compliance requirement around data privacy and security to ensure that pharmaceutical companies are managing their data properly.
Asia Pacific market is growing very rapidly. Rising chronic disease rates, technological advances, and product innovation are driving the growth of the market in this region. Pharmaceutical industry development and demographic shift in the emerging countries such as India and China are providing significant opportunities for the market. Internet penetration rates, government investment policies, demand for quality treatment, and rising adoption of new technologies like cloud computing, big data, and artificial intelligence (AI) are boosting the growth in the Asia Pacific region.
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On the basis of Service Type
On the basis of Deployment model
On the basis of Application,
PMS (Production Management System)
Cloud Computing in Pharmaceutical Subcomponent Manufacturers
On the basis of Region
Middle East and Africa
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