5 Things That Will Dominate The 2020s For Pharma Companies

What’s worth some 1,204.8 billion USD? Well, it’s the worldwide pharmaceutical market, of course! With such a capital at stake and with the pace of technological disruption, the pharma industry is quick to adapt to the changing times. In fact, leading drug companies are re-investing as much as 20.8% of drug sales into new drug development.  We’ve analyzed the trends shaping the future of pharma before, but how can we expect to see the landscape evolve in this new decade? With leaps in A.I., patient empowerment and 3D printed drugs, here are the 5 aspects that will be the focus of pharmaceutical companies in the coming years. 1. Faster and cheaper: A.I. for drug R&D A recent report forecasts the global artificial intelligence in healthcare market size to reach the USD 31.3 billion bar by 2025, growing at a compound annual growth rate (CAGR) of 41.5% over a forecast period. Pharma companies’ contribution to this growth isn’t negligible, as the sheer amount of A.I. companies in drug development reflects. It’s all about the speed and savings that A.I. ‘s myriad of applications can bring in this sector. Source: https://medsocial.ai/ Companies like Atomwise, Turbine and Deep Genomics use artificial intelligence to identify the most suitable drugs for certain conditions, doing so in record time all while cutting down on the costs. A prime example is that of Atomwise providing its algorithm to perform the drug research in developing a treatme...
Source: The Medical Futurist - Category: Information Technology Authors: Tags: Future of Pharma digital health future of medicine pharmaceutics digital health companies Source Type: blogs