Today Basel is crowded with some of the top business and research leaders representing a young and rapidly growing industry of artificial intelligence (AI) in healthcare and pharmaceutical research. They come together to announce mission and launch activities of a global Alliance for Artificial Intelligence in Healthcare (AAIH), which is to become a leading international organization for advancing artificial intelligence innovations in Drug Discovery, Clinical Research, Diagnostics, Precision Medicine and other key areas of pharmaceutical research and healthcare. The newly formed alliance will be a voice of the industry in matters of education, lobbying for policies and regulations, facilitating investment, and promoting AI-innovations among top drug makers and healthcare institutions.
Topic: ‘Pharmaceutical industry trends’
Pharmaceutical companies are increasingly outsourcing research activities to academic and private contract research organizations (CROs) as a strategy to stay competitive and flexible in a world of exponentially growing knowledge, increasingly sophisticated technologies and an unstable economic environment.
The R&D tasks that firms choose to outsource include a wide spectrum of activities from basic research to late-stage development: genetic engineering, target validation, assay development, hit exploration and lead optimization (hit candidates-as-a-service), safety and efficacy tests in animal models, and clinical trials involving humans.
According to a recent analytical report by Visiongain, drug discovery outsourcing will continue to grow over the next decade and will rise to a $43.7 billion dollar industry by 2026, as compared to an estimated 19.2 billion in 2016 (or $21.2 billion according to Kalorama Information). This is in line with Vantage’s fresh alliance benchmarking study, revealing that over 80% of bio-pharma respondents report increased alliance activity compared to five years ago. Getting ideas and expertise from external sources is a well-established practice in the pharmaceutical industry with about one-third of all drugs in the pipelines of the top ten pharmaceutical companies initially developed elsewhere, according to a 2014 WSJ article by Jonathan D. Rockoff.
China has been becoming a research powerhouse in many fields of science, but it still is a minor player when it comes to pharmaceuticals. However, recent developments suggest that China’s role in pharmaceutical research may change in the near future.