Drug discovery and development technologies play a crucial role in shrinking the massive process and reducing the timeline with minimal errors. Pharma companies are increasingly leveraging artificial intelligence, supply chain automation, and data integration technologies to optimize the process, and this is expected to grow the drug discovery and development market size to $161.76 billion by 2027, at a CAGR of 8.9 percent.
Like every other industry, artificial intelligence is largely influencing the pharmaceutical industry, especially drug development. Artificial intelligence in drug discovery and development aims to simplify the review of literature and identify potential participants from patients for clinical trials, which, according to Insider Intelligence, can reduce the time and cost of pharmaceutical companies by up to 70 percent.
To put the spotlight on similar developments in the industry, Pharma Tech Outlook illustrates how the pharmaceutical industry is leveraging the latest developments in drug discovery and development. The edition also features a thought leadership article from Nick Thomson, Senior Director, Chemical Research & Development, Pfizer [NYSE:PFE]. They shed light on various technological developments that benefit drug discovery and development.
In this edition of Pharma Tech Outlook, we also bring to you the story of some of the top drug discovery solution providers in APAC that deliver the best outcomes for their clients. In the list, MediRama particularly stands out for their unique approach, based on their understanding of the clinical development of drugs and expertise that aligns with patient benefits. The list also comprises Metabolon for assisting clients on metabolomics and helping them achieve research and development goals.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the drug discovery and development industry. We would like to know your thoughts.
