This report provides an overview of the big data analytics in the pharma industry.
Big data is generated in vast quantities across healthcare
The healthcare and pharmaceutical industries generate data in abundance from a multitude of sources including physician notes, pathology reports, electronic health records (EHR), patient registries, genomics, clinical trials, social media, wearable devices, and many more. The dataset in question is huge in both size and complexity, rendering traditional data management techniques inefficient for processing.
In response to this problem, a burgeoning industry has become established around the development of technologies and tools that secure, store, process, analyze, aggregate, and integrate large quantities of data such that they can be used to generate new insights. Big data analytics serve as the engine for other emerging technologies such as artificial intelligence (AI), Internet of Things (IoT), 5G, and cloud.
Pharma can utilize big data across its value chain
The identification of patterns, trends, and associations within these datasets are expected to revolutionize the pharma industry. There are numerous use cases for big data analytics in this sector, including the acceleration of drug discovery and development, optimization of manufacturing processes, supply chain management, and the creation of innovative sales and marketing strategies.
This report assesses how big data analytics, combined with other emerging technologies, can be used across the pharma value chain. It provides an overview of the current landscape, including healthcare, technology, regulatory, and macroeconomic trends, as well as key players, while also highlighting opportunities for the use of big data analytics in the future. The report provides an industry-specific analysis based on GlobalData databases and surveys, as well as several pharma-specific case studies. Finally, the report provides an analysis of big data-related deals, jobs, and social media activity, highlighting the impact of the COVID-19 pandemic, where relevant.
- The global data and analytics market in the pharmaceutical sector was valued at $1.4 billion in 2020 and is forecast to grow to $1.9 billion by 2025.
- Surveyed pharma industry professionals believed that big data analytics has a role throughout the pharma process, including manufacturing, supply chain, drug discovery and development, and sales and marketing.
- Cloud and big data were found to be the leading two technology investment priorities for pharma in 2021, with 47% and 45% of respondents indicating that their organizations had investment in these leading technologies, respectively.
- While the start of the COVID-19 pandemic saw a slight decline in the number of active job postings related to big data analytics, they rose again in Q4 2020 and have continued an upward trajectory.
- Real-world evidence is an important source of big data in the pharma industry. Between 2011 and 2022, 187 clinical trials related to RWE collection were identified using GlobalData's Clinical Trials Database.
- Overview of the current and future use cases of big data analytics in the pharma industry, across the value chain.
- Insightful review of the healthcare, technology, regulatory, and macroeconomic trends. Each trend is independently researched to provide qualitative analysis of its implications on the big data space.
- Reports of the revenue opportunity forecast in the data and analytical markets in the pharma industry from 2020 to 2025, spanning three technology segments and 49 geographical markets.
- Key players in the big data space, with a focus on technology providers and pharma adopters.
- Industry analysis of big data in the context of jobs in the pharma industry, use of real-world evidence in post-marketing studies, social media, and several pharma-specific case studies.
- Deals analysis: outline of key deals within the big data space over the past three years, including mergers and acquisitions, strategic partnership, and funding.
Reasons to Buy
- Assess who the leading technology players are in the big data space, as well as leading pharma adopters.
- See examples of how pharma companies are integrating big data analytics into their value chains.
- Understand what trends are driving the big data space and challenges exist for pharma in the space.
- See how the big data landscape is evolving, with a review of company activity including mergers and acquisitions (M&A), strategic partnerships and funding deals, as well as a job analysis.
- Assess the impact of COVID-19 on big data analytics.