Covid-19 briefing

Download GlobalData’s Covid-19 Executive Briefing report

- ECONOMIC IMPACT -

Latest update: 26 April 2022

GlobalData polls show that concern over the spread of COVID-19 remains volatile, so does the business optimism

Swift development of Covid-19 vaccines and strong capital markets continue to drive Pharma growth; however immediate impact focused on Russia and Ukrainian markets.

81 million

The number of confirmed cases in the US exceeds 81 million.

3.5%

The consensus forecast for world GDP growth in 2022 has been lowered to 3.5%

- SECTOR IMPACT: PHARMA -

Latest update: 4 March 2022

industry development

1,156

Number of trials that are experiencing delayed initiation, enrollment suspensions or overall slow enrollment

35%

Every aspect of the pharma value chain was impacted by the pandemic, but according to an ongoing GlobalData poll, the biggest impact is in supply chain (35%)

REMOTE PATIENT MONITORING

Remote Patient Monitoring (RPM) tools gained momentum during the start of Covid-19, when the pandemic provided seamless groundwork for effective RPM usage and accelerated technology uptake. While the urgency to implement RPM solutions may have been addressed during the previous year, the adoption of remote monitoring tools will remain solid even after the Covid-19 pandemic recedes, in line with continuous digitalization of the healthcare industry.

RPM was scored as the most impactful industry trend for 2021, but has pushed to the third position, as per the GlobalData’s The State of the Biopharmaceutical Industry Survey, 2022 Edition. Genomics Genomics has been rated as the most impactful industry trend by the surveyed healthcare professionals.

SMART TECHNOLOGIES

The COVID-19 pandemic has given businesses an unprecedented opportunity to accelerate and implement technology-fueled changes to the way they operate, even if those changes had already begun to be implemented pre-pandemic. For pharmaceutical companies, the pandemic forced many to rethink and readjust their drug development process, manufacturing, supply chains, marketing strategies, and end-customer reach.

While pharmaceutical companies mainly relied on technologies before the pandemic to enhance internal processes, now digital technologies are becoming necessary to ensure business continuity and to gain competitive edge.

COVID-19-driven challenges and accelerated digital transformation will continue to reshape the biopharmaceutical industry in 2022 with Big Data and AI dominating as the most impactful technologies.

02/23/2024 23:27:09