The mention of cloud computing in the documents of companies in the pharmaceutical industry fell by 15% between the third and fourth quarters of 2021.
Overall, the incidence rate for cloud computing in 2021 was 125% higher than in 2016, when GlobalData, from which we took our data for this article, first began tracking key issues, specified in the company documents.
When pharmaceutical companies publish annual and quarterly reports, ESG reports and other documents, GlobalData analyzes the text and identifies individual sentences that relate to the destructive forces that companies face in the coming years. Cloud computing is one of these topics – companies that stand out and invest in these areas are considered to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.
Two measures were calculated to assess whether cloud computing is more integrated into pharmaceutical companies’ summaries and strategies. First, we looked at the percentage of companies that mentioned cloud computing at least once in their applications over the last twelve months – that’s 38% compared to 15% in 2016. Second, we calculated the percentage of total sentences analyzed that refer to cloud computing .
Of the top 10 employers in the pharmaceutical industry, IQVIA was the company that relied most on cloud computing in 2021. GlobalData identified nine sentences related to the cloud in the documents of the US-based company – 0.15% of all sentences. Roche mentioned cloud computing in second place – the problem was mentioned in 0.02% of the sentences in the company’s documents. Other leading employers with high cloud references include GSK, AstraZeneca and Pfizer.
This analysis gives an approximate indication of which companies are focusing on cloud computing and how important the issue is in the pharmaceutical industry, but there are also limitations that need to be interpreted carefully. For example, a company that mentions cloud computing more regularly is not necessarily evidence that it is using new techniques or prioritizing the problem, nor does it indicate whether the company’s cloud computing endeavors have been successful or unsuccessful.
GlobalData also categorizes mentions of cloud computing into a series of subtopics. Of these sub-topics, the most frequently mentioned topic in the fourth quarter of 2021 was “software as a service”, which accounted for 88% of all mentions of cloud sub-topics by pharmaceutical companies.