NEW DELHI: According to a recent study released on Tuesday, 58% of healthcare industry executives worldwide feel that initiatives for digital transformation will be dragged down by inflation and growing expenses.

In North America, 63% of professionals in the healthcare and pharmaceutical sectors anticipated that inflation would thwart their business units' digitalization attempts.

According to Global Data, a renowned data and analytics business, 55% of industry professionals in Europe and 47% in the Asia-Pacific area had the same viewpoint. "Rising labour and material prices have taken centre stage in 2022. The profit growth of pharma companies is anticipated to be under some pressure from inflation, which would likely lead to fewer investment activities that could have an influence on digital transformation initiatives "Elton Kwok, Market Research Manager for Pharmaceuticals at GlobalData, said.

Organisations may be forced to reduce their emphasis on and investment in these projects as a result of inflation and cost pressures. Digitalization involves money, time, and skill, he commented.

Implementing emerging technologies like artificial intelligence (AI), big data, cloud computing, application programming interfaces (API), and others is a part of digital transformation.

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