Digitalisation is taking the pharma and life sciences industry by storm. Technologies like AI, machine learning, AR/VR, IoT, blockchain, and 3D printers, are among the numerous innovations that are transforming the pharmaceutical industry, changing the way healthcare is delivered, and medicine is practiced.
Machine learning, for instance, has made the clinical and healthcare processes more efficient and seamless. Machine learning helps accelerate and improve the various stages of the drug discovery procedure. During the entire process, where various biomedical information is generated, identifying new patterns in the information can be easily done using machine learning. In a nutshell, all kinds of data can be analysed using machine learning and later utilised to create unconventional solutions from medicine discovery.
AR/VR, too, have contributed immensely to the pharmaceutical industry. With their ability to create a captivating virtual world with minute details, AR/VR technologies help pharma companies increase the efficiency of the pre-development phases of drugs by enabling scientists to better visualise the interactions and, thus, redesign and re-engineer molecules according to site specifications.
That being said, blockchain too provides an opportunity for pharma manufactures to decrease the costs, increase transparency, and trust for all participants in the drug development process by protecting intellectual property (IP) information. Current IP systems have blocked cross-collaboration, which makes the whole process more cumbersome and complex. Blockchain may be able to provide a platform for the protection IP, including the facilitation of payments, and incentivisation models that could encourage participants to provide input into the R&D process.
Highlighting these new developments in the life sciences landscape, Pharma Tech Outlook has compiled a list of leading pharma and life sciences firms that are transforming the drug development process and driving greater value to the patients, healthcare professionals, and society.
We present to you Pharma Tech Outlook's “Top 10 Pharma and Life Sciences Tech Consulting/Service Companies in Europe - 2019.”
