Studied benefits of Cloud computing in the biotech and pharma fields.

Cloud computing has become one of the most common investments in the pharmaceutical and biotech sectors. If your research and development teams don’t have the processing power to keep up with the deluge of available data for drug discovery and other applications, you’ve likely looked into the feasibility of a digital transformation.

Real-world research reveals these examples that highlight the incredible effects of Cloud-based computing environments for start-up and growing biopharma companies.

Competitive Advantage

As more competitors move to the Cloud, adopting this agile approach saves your organization from lagging behind. Consider these statistics:

• According to a February 2022 report in Pharmaceutical Technology, keywords related to Cloud computing increased by 50% between the second and third quarters of 2021. What’s more, such mentions increased by nearly 150% over the five-year period from 2016 to 2021. 
• An October 2021 McKinsey & Company report indicated that 16 of the top 20 pharmaceutical companies have referenced the Cloud in recent press releases.
• As far back as 2020, a PwC survey found that 60% of execs in pharma had either already invested in Cloud tech or had plans for this transition underway. 

Accelerated Drug Discovery

In one example cited by McKinsey, Moderna’s first potential COVID-19 vaccine entered clinical trials just 42 days after virus sequencing. CEO Stéphane Bancel credited Cloud technology, that enables scalable and flexible access to droves of existing data and as Bancel put it, doesn’t require you “to reinvent anything,” for this unprecedented turnaround time. 

Enhanced User Experience

Both employees and customers prefer to work with brands that show a certain level of digital fluency. In the survey by PwC cited above, 42% of health services and pharma leaders reported that better UX was the key priority for Cloud investment. Most participants – 91% – predicted that this level of patient engagement will improve individual ability to manage chronic disease that require medication.

Rapid Scaling Capabilities

Cloud computing platforms can be almost instantly scaled to fit the needs of expanding companies in pharma and biotech. Teams can rapidly increase the  capacity of these systems to support new products and initiatives without the investment required to scale traditional IT frameworks. For example, the McKinsey study estimates that companies can reduce the expense associated with establishing a new geographic location by up to 50% by using a Cloud platform. 

Are you ready to transform organizational efficiency by shifting your biopharmaceutical lab to a Cloud-based environment? Connect with RCH today to learn how we support our customers in the Cloud with tools that facilitate smart, effective design and implementation of an extendible, scalable Cloud platform customized for your organizational objectives. 

References
https://www.mckinsey.com/industries/life-sciences/our-insights/the-case-for-Cloud-in-life-sciences
https://www.pharmaceutical-technology.com/dashboards/filings/Cloud-computing-gains-momentum-in-pharma-filings-with-a-50-increase-in-q3-2021/
https://www.pwc.com/us/en/services/consulting/fit-for-growth/Cloud-transformation/pharmaceutical-life-sciences.html