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Challenges
15p
out of every £1 ‘spent’ in manufacturing is wasted due to INEFFICIENCIES ACROSS THE END-TO-END PROCESS
- Forbes
50%
of business leaders say the cost and time involved with REGULATORY COMPLIANCE HAS INCREASED
- Department for Business, Energy & Industrial Strategy
68%
of pharmaceutical, biotech and life science companies STRUGGLE TO RECRUIT highly skilled workers
- AMS
97%
of companies experienced SUPPLY CHAIN DISRUPTION over the past 12 months
- 3Gem Research and Insights
Opportunities
5 years
Decision-makers say COVID-19 has ACCELERATED THE DIGITAL TRANSFORMATION of the pharmaceutical industry by five years
- Verdict
22%
of the global population will be AGED 60 YEARS OR OVER BY 2050, up from 12% today
- World Health Organisation
58%
of chemical manufacturers are prioritising investments in DECARBONISATION AND SUSTAINABILITY initiatives
- PwC
70%
of chemical manufacturers are investing significant sums in INNOVATION BEYOND TRADITIONAL PRODUCT R&D
- EY
Drivers
No.1
Pharmaceutical companies SUFFER MORE CYBER ATTACKS than those in any other industry
- Forbes
12 years
The average time it takes to DISCOVER, DEVELOP AND TEST A NEW MEDICINE, at a cost of £1bn.
- The Association of the British Pharmaceutical Industry
17,400
Average cost per hour of UNPLANNED DOWNTIME for process manufacturers
- The International Society of Automation
Top reasons why manufacturers are investing in supply chain traceability
20%
Simplify regulatory complicance
18%
Increase reliability
15%
Enhance customer engagement
12%
Boost efficiency
12%
Improve sustainability