The Life Sciences industry is currently experiencing a seismic shift, majorly driven by considerable external factors. The prominent players in the landscape, who heavily relied on highly popular drugs, are now facing a setback in the game due to the expiry of patents on a large scale. Moreover, customers’ expectations have increased rapidly over the years, leading researchers to identify measures to uproot the causes of diseases rather than curing patients after they are victimized. All these factors have made way for an ultimate disruption in the distribution channels, while Clinical Research Organizations (CROs) are struggling to cope up with the revised regulatory compliances. In the wake of this scenario, CROs are adopting high-end technological advancements to bridge the gap between the demand and supply of cure options.
To begin with, researchers are vouching for Artificial Intelligence (AI) when it comes to introducing newer opportunities in the market. Combined with Machine Learning (ML) algorithms, automation initiatives will empower researchers to become more capable of moving further toward more groundbreaking discoveries. Meanwhile, as the competition grows, CROs are looking forward to building partnerships, in an ambitious bid to transition into the new-age research from legacy systems and stay ahead of the competitive curve.
As regulatory compliance looms large in the Life Sciences arena, CROs are moving forward to incorporate automation techniques in tandem with their quality testing systems, thereby making sure that every drug undergoes the process of quality check during each phase without any discrepancies. Electronic Medical Records (EMRs) will be standardized with an aim to reap long-term benefits in terms of documentation prerequisites. As most of these systems operate in real time, cloud-driven applications will serve as the binding force for organization in their efforts of streamlining the flow of data during the drug evolution process. All these advancements will be focused on a single objective—enhancing the drug discovery process while ensuring zero compromises on security and compliance.
While cutting-edge technology ensures quality for the Life Sciences industry, it is an uphill task for organizations to decide on one from the extensive assemblage of trends. To make this task easier, a distinguished panel comprising CEOs, CIOs, VCs, Analysts and the editorial board of CIO Applications has selected a list of Life Sciences Technology Vendors.
We present to you CIO Applications’ “Top 10 Life Sciences Technology Vendors 2019.”