The pharmaceutical industry is facing significant challenges in its digital transformation journey, primarily due to a persistent skills shortage. A recent survey conducted by GlobalData highlights that nearly half of the professionals in the sector believe that a lack of specific digital skills is impeding progress, particularly among larger companies.
Key Takeaways
49% of pharmaceutical professionals cite skills shortages as a major barrier to digital transformation.
Larger companies are more affected by this issue compared to smaller firms.
The demand for tech-savvy specialists continues to grow, but the supply remains limited.
The Skills Gap in Pharma
The GlobalData survey, which gathered insights from 109 pharmaceutical industry professionals between August and October, reveals that the skills gap remains a critical issue. This is not a new problem; a similar survey conducted a year ago indicated that 43% of respondents identified skills as the top challenge in digital transformation, surpassing concerns about funding and operational silos.
Urte Jakimaviciute, Senior Director of Market Research and Strategic Intelligence at GlobalData, emphasized the ongoing nature of this challenge. She noted that the shortage of talent with specific digital skills has been a pressing issue since the onset of the COVID-19 pandemic. Despite the increasing demand for such specialists, the supply of qualified individuals is limited, and there is no quick fix in sight.
Impact on Larger Companies
The survey findings suggest that larger pharmaceutical companies are particularly vulnerable to the skills shortage. These organizations often have a broader scope of operations and a greater number of systems that require digitalization. Consequently, they need more human resources to effectively implement digital transformation initiatives.
Jakimaviciute pointed out that the absence of necessary skills may prevent these larger firms from fully realizing the potential benefits of the digital technologies they adopt. This could hinder their competitiveness in an increasingly digital landscape.
Smaller Firms and Outsourcing Solutions
In contrast, smaller pharmaceutical companies appear to be navigating the skills shortage differently. According to GlobalData, these firms are more likely to outsource specialized skills rather than attempting to build them in-house. This approach allows them to prioritize rapid innovation without being bogged down by the need for very specialized roles.
Conclusion
The findings from the GlobalData survey underscore the urgent need for the pharmaceutical industry to address the skills shortage that is holding back digital transformation efforts. As the demand for digital expertise continues to rise, companies must explore innovative solutions, including training programs and strategic partnerships, to bridge the skills gap and ensure they can leverage digital technologies effectively. Without addressing this critical issue, the industry risks falling behind in a rapidly evolving digital landscape.
Sources
Skills shortage holding back pharma's digital transformation, FiercePharma.