What’s Trending in Pharma IT in 2024? 

Technological advancements and the increasing demand for efficiency, security, and innovation are shaping the pharmaceutical industry. Cutting-edge IT solutions in drug discovery, clinical trials, and regulatory compliance are necessary to stay competitive.  

Key trends include: 

• Data & Analytics 
• Cybersecurity 
• Cloud Computing Services 
• ERP and Business Transformations 
• Advanced Manufacturing 
• Voice Enabled Platforms 
• Virtual Reality (VR) and Augmented Reality (AR) 

Data & Analytics 

As the volume of health data grows, pharmaceutical companies are leveraging advanced analytics to extract valuable insights from diverse data sources, including clinical trials, electronic health records, and genomic data. This capability enables more precise drug development, personalized medicine, and improved patient outcomes.  

Integrating AI and machine learning further enhances the power of big data analytics, allowing for predictive modeling, real-time data analysis, and the identification of novel drug targets. Consequently, the pharmaceutical industry is expected to see significant advancements in R&D efficiency, regulatory compliance, and market competition driven by the strategic use of big data analytics. For instance, pharma companies use predictive analytics to identify potential drug candidates faster and more accurately, reducing the time and cost of bringing new drugs to market. 

Other areas of development include: 

• Data Lakes 
• Genomic Data Analysis Tools 
• Natural Language Processing (NLP) 
• Blockchain for Data Integrity 
• Real-World Evidence (RWE) Platforms 
• High-Performance Computing (HPC) 
• Cloud-Based Analytics 

An article published by Pharmaceutical Technology showing trends in patent filings, deals, and posted jobs for Q2 2021-Q1 2024 dubbed the U.S. the leading country in big data adoption within the pharmaceutical industry. The UK, Canada, China, and Germany were close contenders. Altogether, the industry has seen fluctuations in big data-related patent activities. Although there was a 64% year-on-year drop in big data-related patent applications in early 2024, there has been significant activity in certain areas.  

The decline in overall patent filings and grants in Q2 2024 reflects broader industry trends. Yet, big data remains a focal point for innovation, particularly in personalized medicine and operational technologies. Patents in personalized medicine include technologies for predicting tumor phenotypes using genomic analyses. Pharma corporations are also securing patents related to the automation of resource scheduling to improve cell culture growth.  

Cybersecurity  

Protecting sensitive information, such as intellectual property and patient data, is crucial as the pharmaceutical sector increasingly relies on digital technologies and data-driven processes. The industry’s digitalization, including cloud computing, big data, and AI-driven research, makes pharmaceutical companies more vulnerable to cyberattacks, data breaches, and ransomware. 

The rise in high-profile cyber incidents, especially those targeting healthcare and life sciences sectors, highlights the need for robust cybersecurity measures. Additionally, regulatory requirements for data protection and handling sensitive patient information have become more stringent, compelling companies to strengthen their cybersecurity defenses. Likewise, the industry is enhancing its cybersecurity frameworks by adopting zero-trust architectures (ZTAs). 

ZTAs operate on the principle of “never trust, always verify.” Unlike traditional security models relying on perimeter defenses like firewalls, Zero Trust assumes that threats can come from inside and outside the network. It treats every access request as potentially dangerous, ensuring that each request within a network is authenticated, authorized, and encrypted.  

Research shows that the global Zero Trust security market had a value of over $31.6 billion in 2023. This number is expected to increase to $133 billion by 2032. One survey showed that 30% of respondents planned to partner with multiple security providers in 2024 to begin roadmapping zero-trust implementation. Another 23% of cybersecurity professionals surveyed worldwide said they have already started implementing zero-trust solutions.  

AI- and machine learning-powered threat detection systems are also being implemented to identify and mitigate potential cyber threats in real-time. These advanced systems analyze vast amounts of data to detect anomalies and suspicious activities, enabling companies to respond swiftly to security incidents. Finally, pharmaceutical companies invest in blockchain technology to secure the integrity of clinical trial data and supply chain operations, ensuring transparency and preventing tampering. 

Effective cybersecurity technologies used in the pharmaceutical industry include: 

• Zero Trust Architecture 
• Data Encryption 
• Identity and Access Management (IAM) (e.g., multi-factor authentication (MFA), single sign-on (SSO), and role-based access control (RBAC)) 
• Security Information and Event Management (SIEM) 
• Advanced Threat Protection (ATP) (e.g., endpoint detection and response (EDR), threat intelligence, and automated incident response) 
• Data Loss Prevention (DLP) 
• Endpoint Security (e.g., antivirus software, firewalls, intrusion prevention systems (IPS), and advanced endpoint detection and response (EDR)) 
• Cloud Security (e.g., cloud access security brokers (CASBs), encryption, identity management, and secure configuration management) 
• Blockchain Technology  
• Artificial Intelligence and Machine Learning   

Cloud Computing Services 

Cloud platforms increasingly integrate AI, machine learning, and advanced analytics, providing powerful tools for data-driven decision-making. As the demand for personalized medicine and faster time-to-market grows, cloud computing is emerging as a cornerstone for innovation and competitive advantage in the pharmaceutical sector. Additionally, cloud-enabled clinical trials are driving the growth of cloud computing in the pharmaceutical industry.  

The shift towards cloud-based solutions allows pharma companies to enhance scalability, flexibility, and collaboration across global operations. By leveraging the cloud, organizations can streamline their R&D processes, facilitate real-time data sharing, and accelerate drug discovery and development. Adopting hybrid and multi-cloud strategies is also becoming more prevalent, allowing companies to balance security, cost-efficiency, and regulatory compliance.  

Recent research suggests that cloud computing in the pharmaceutical industry is expected to reach a market value of $59 billion by 2032, with a CAGR of 14.6%. Hybrid cloud solutions are popular among users as a deployment type, growing with the highest CAGR. This flexible option provides companies with privacy and security on a private cloud and the power and scalability of the public cloud.   

Popular hybrid cloud solutions include: 

• Microsoft Azure 
• Amazon Web Services (AWS) Outposts 
• VMware Cloud on AWS 
• IBM Cloud Pak 
• IBM Cloud Satellite 
• Red Hat OpenShift 
• Google Anthos 
• Dell Technologies Cloud 
• HPE GreenLake 
• Oracle Cloud@Customer 

As a service type, Software-as-a-Service (SaaS) is anticipated to have the highest CAGR rate during the forecast period through 2026. The primary benefit of this solution is access from anywhere at any time on any device, enhancing collaboration across global teams. Other benefits include: 

• Clinical, regulatory, and quality control 
• Content and data governance 
• Electronic data capture (EDC) 
• Healthcare provider interactions 
• Sales operations 
• Clinical trial management 
• Pharmacovigilance 
• Supply chain management 
• AI and analytics 
• Automation 
• Document and audit control 
• Change control 
• Corrective and Preventive Actions (CAPA) 
• Revenue management 

Common SaaS solutions include: 

• Veeva Vault 
• Medidata Rave 
• Salesforce Health Cloud (CRM) 
• Oracle Health Sciences Cloud 
• SAP Life Sciences 
• IQVIA OCE (Orchestrated Customer Engagement) 
• MasterControl (QMS) 
• TrackWise Digital by Sparta Systems 
• Model N Revenue Cloud 
• Egnyte 

By application, PMS (Production Management System) is projected to grow fastest due to its ability to ensure quality and compliance with FDA, GMP, and ISO requirements. Examples include: 

• SAP S/4HANA  
• Salesforce Health  
• Oracle SCM  
• Infor CloudSuite 
• Medidata Solutions 
• Plex Manufacturing  
• Siemens Opcenter 
• Veeva Vault 
• Dassault Systèmes BIOVIA 
• Microsoft Dynamics 365 

ERP and Business Transformations 

Enterprise Resource Planning (ERP) systems are a cornerstone of digital transformation, fundamentally transforming business operations by providing a centralized framework that integrates various functions across an organization. This holistic approach to managing and consolidating core business processes bridges the gap between various departments, such as finance, human resources, supply chain, and customer relationship management, enabling a seamless flow of information and enhancing operational efficiency.  

Also, real-time data accessibility and streamlined operations promote strategic growth and allow for increased savings, with the automation of routine tasks reducing overhead and administrative costs. The unified data repository additionally supports informed decision-making and enhances compliance. Finally, the ability to customize ERP solutions to fit the unique requirements of an organization ensures that businesses can adapt to market changes swiftly, maintaining a competitive edge.  

Successful ERP implementation requires careful planning and adequate support. Oxford can help with effective change management, cost and resource allocation, customization, and data migration to get the most out of your ERP implementation and prevent initial failures, out-of-budget expenses, employee resistance, lack of system flexibility, and disrupted timelines.  

ERP implementation benefits include: 

• Increased Efficiency: 35% of businesses said this was the primary driver behind ERP implementation 
• Operational Improvements: 95% of businesses reported substantial improvements in operations post-implementation 
• Prompt Services: Modern ERP systems can enhance on-time deliveries by 24% 
• Removal of Functional Barriers: 29% of companies say ERP systems helped to break down functional barriers and streamline business processes 
• Heightened Innovation: 79% of businesses say ERP fosters innovation and 80% of companies use ERP solutions to create novel applications that promote positive business efforts 
• Customer Responsiveness: 38% of organizations believe ERP has been instrumental in responding to customer demands more effectively  
• Enhanced Customer Engagement: 75% of businesses find that ERP systems are essential in real-time customer engagement  
• Easy Data Access for Timely Decision-Making: 45% of companies find it easier post-implementation to access customer and business data when needing to make fast decisions 
• Higher Quality Information: 73% of businesses were able to enhance datasets post-implementation 
• Return on Investment: 28% of businesses achieved a ROI within one year of ERP implementation 

Advanced Manufacturing  

Pharma companies are enhancing their production processes’ efficiency, precision, and scalability by integrating cutting-edge technologies such as automation, IoT, and AI. Advanced manufacturing techniques, including continuous manufacturing and 3D printing, enable faster production cycles, reduced waste, and more consistent product quality. These innovations also support the production of personalized medicines, allowing for tailored therapies that meet individual patients’ needs.  

Additionally, real-time monitoring and predictive maintenance capabilities improve operational reliability and reduce downtime. As regulatory bodies increasingly endorse these technologies, advanced manufacturing is driving cost efficiencies and accelerating the delivery of innovative treatments to the market, positioning it as a critical enabler of the pharmaceutical industry’s future growth.  

Accordingly, the U.S. Food and Drug Administration (FDA) launched an advanced manufacturing technology (AMT) program this year. The AMT program aims to accelerate the growth of the U.S. advanced pharmaceutical manufacturing (APM) industry, providing enhanced sustainability and heightened public health emergency preparedness and response, among other benefits. Per the FDA, the AMT guidance encourages the implementation of innovative technologies that can scale manufacturing capabilities to improve drug quality, address shortages of medicines, increase supply chain resilience, and speed time-to-market. 

Voice-Enabled Platforms 

These platforms are gaining traction in pharma, transforming how professionals interact with technology and data. With natural language processing (NLP) and AI advancements, voice-enabled platforms allow users to perform complex tasks hands-free, improving efficiency in various settings, from laboratories to production floors. Researchers and healthcare professionals can now access, analyze, and input data using simple voice commands, streamlining workflows and reducing the need for manual data entry.  

According to a MarketsandMarkets report, the speech and voice recognition market is expected to reach $28.1 billion by 2027, with a CAGR of 24.4% from 2022 (when it was $9.4 billion) to 2027. Examples of voice-enabled platforms used in the pharmaceutical industry include: 

• Suki AI 
• Nuance Dragon Medical One 
• Siri and Alexa Integrations 
• Orbita 
• IBM Watson Health 
• Amazon Transcribe Medical  
• Microsoft Azure Speech Services  

This technology enhances accessibility, enabling more intuitive interaction with digital systems, particularly in environments where multitasking is essential. As voice-enabled platforms become more integrated with other pharma IT systems, they are expected to drive significant improvements in productivity, data accuracy, and overall user experience, making them an asset in the industry’s ongoing digital transformation.  

Virtual Reality (VR) and Augmented Reality (AR) 

VR and AR are set to revolutionize the pharmaceutical industry by offering immersive and interactive experiences that enhance drug development, training, and patient care. VR is utilized for advanced simulations, enabling researchers and medical professionals to visualize complex biological processes, conduct virtual clinical trials, and refine surgical techniques in a risk-free environment. AR enhances real-time data visualization and remote collaboration, allowing for more precise manufacturing processes and aiding in complex procedures by overlaying critical information directly onto the physical world.  

Overall, the AR and VR market is expected to reach $40.4 billion in 2024. By 2029, that value will increase to $62 billion, growing at a CAGR of 8.97%. The North American pharmaceutical industry’s market share is estimated to reach $4.64 billion by 2025. This shows a significant increase from just $477 million in 2018, reflecting AR and VR’s growing popularity and effectiveness in pharma and medical settings.  

According to Innovations in Pharmaceutical Technology, AR and VR will exceed 100 million worldwide users by 2027. Combined with 3D AI, machine learning, cloud services, and the Internet of Things (IoT), these immersive mixed reality technologies power the metaverse—where the real world collides with the virtual world—of Pharma 4.0. As VR and AR technologies evolve, they are expected to become integral tools in enhancing efficiency, innovation, and patient outcomes within the pharmaceutical sector.  

AR and VR technologies that are being used or developed in the pharma sector are: 

• Oculus VR for Training and Education 
• Veeva CRM MyInsights 
• Augmedics 
• Nanome 
• AccuVein 
• Proximie 
• Holo4Labs 
• Medivis 
• HoloLens by Microsoft 
• zSpace 
• XRHealth 
• Medisim 
• Pixo VR 

Oxford Can Help 

Oxford can help your business leverage the potential of AI, big data, cybersecurity, cloud, and other technologies. With a network of over 30,000 consultants and experts, we deliver customized solutions that meet your specific needs and challenges. We also provide training and coaching to help you develop the skills and competencies you need to thrive in the digital era. By partnering with Oxford, your organization can access the best talent, tools, and methodologies that can accelerate the adoption and implementation of pharma tech solutions, enhancing the quality and impact of your work.