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FREMONT, CA: The pharmaceutical sector has seen a growth in demand and a need to bring about innovations. With populations increasing at exponential rates, the need to find breakthrough medications is also rising. In other industries, technological advancement has been high in recent times, and the pharmaceutical industry is no exception. Biotech companies can drive the innovation game to help deal with upcoming health challenges successfully.
Biotech companies are in an excellent position to bring in an innovative approach in developing medication and novel treatment methodologies. The world is in dire need of treatments that address unmet medical needs and orphan diseases. Large pharmaceutical companies often outsource the fundamental and experimental drug development processes to smaller biotech companies. This is set to change as industry experts have hinted at disintegration. The disintegration will mean small biotech companies get more power and can lead the way in innovations.
The new age biotech companies taking control are employing artificial intelligence-driven drug development. With funding coming in, the future of the pharmaceutical industry now seems to be safe and replete with possibilities. A particular application developed by a biotech company enables drug trials to be foolproof by ensuring a patient never misses a dose and even if they do, they can’t lie about it as the application records the activities and ensures the patient is medicated. Companies have also developed apps to predict protein structures. AI has been used to study genome data. The analysis of genomic data through AI gives hugely accurate information regarding gene sequence of patients.
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Precision medicine can become a reality if the ambitious biotech companies can leverage the power of data through technology. Disease, as well as patient-specific medication and treatment, gives the highest level of efficiency that one can expect. Machine learning and natural language processing are also playing their part. Companies are deploying these to study the vast amount of data available which the human brain cannot use comprehensively.
Driven by a quest to bring in a fresh approach, biotech companies and startups may go on to bring a revolution in the pharma industry.