6 TECH OUTLOOKAPRIL - 2019Copyright © 2019 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.APRIL - 24 - 2019, Vol 05 - 05 Published by ValleyMedia Inc. To subscribe to Pharma Tech OutlookVisit www.pharmatechoutlook.com Editor-in-ChiefStacey SmithSalesVisualizerAsher BlakeJohn GouthamEditorial StaffAaron Pierce Ava GarciaJenna VegasJoshua ParkerJustin SmithSwayamsidha BeheraJennifer Stephen Jennifer@pharmatechoutlook.comPhone: 510.996.5173EditorialStacey Smith Editor-in-Chiefeditor@pharmatechoutlook.comRising drug consumption and increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, neurological disorders, diabetes across the globe is driving demand for pharmacovigilance (PV) services. To cater to this increasing need, PV also needs to shift from a labor-intensive case processing approach to an automated model. Some technology vendors have already cracked the code for this and started offering advanced solutions that can automatically extract and process adverse drug reaction (ADR) events data from multiple sources. Making use of the modern technologies, many industry experts suggest that by 2020 the application of automation in PV is likely to reduce the time taken to process a case of ADR by 80 percent and decrease operational costs by at least 50 percent. Flash forward to the future, global PV Market is set to exceed 8.0 billion dollars by 2024.Sailing along the favorable wind, more PV operations are adopting artificial intelligence (AI) to produce more granular predictive accounts of safety issues and end-to-end case processing, aggregated reporting, and more accurate signal detection. Simultaneously, companies are also upskilling themselves by adopting recent technologies like optical character recognition, robotic process automation, natural language processing (NLP), and machine learning. Technology solution providers, such as Genpact, are helping several life sciences companies transform PV operations.Pharma companies are actively seeking PV solution providers with capabilities to apply these advanced technologies in an end-to-end model and to outsource their PV and regulatory activities related to managing and maintaining drug information. In light of this, Pharma Tech Outlook presents its pharmacovigilance edition featuring insights from industry leaders and innovative solution providers.We hope this edition is valuable in helping you build an effective and efficient drug monitoring process. Let us know your thoughts!Reshaping Pharmacovigilance with AITECH OUTLOOKTECH OUTLOOK*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffsales@pharmatechoutlook.comeditor@pharmatechoutlook.commarketing@pharmatechoutlook.comEmail:Contact Us:Phone:510.556.2402, Fax:510-894-8405
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