GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN PHARMACEUTICAL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In May 2024, Lantern Pharma Inc., Biotechnology company announced a strategic collaboration with Oregon Therapeutics to optimize the development of XCE853, a protein disulfide isomerase (PDI) inhibitor drug candidate for various cancer indications. Leveraging Lantern's RADR AI platform, the collaboration aims to identify biomarkers and efficacy signatures of XCE853 across solid tumors, enhancing precision in clinical development and patient selection.
• In December 2023, Merck, a prominent science and technology company, introduced AIDDISON, a pioneering drug discovery software. It serves as the first software-as-a-service platform that integrates SynthiaTM retrosynthesis software application programming interface (API), connecting virtual molecule design with practical manufacturability.
• In August 2023, Parexel, a leading clinical research organization (CRO), and Partex, the pioneer in data-to-drugs pharma platforms, formed a preferred strategic alliance. This partnership aims to utilize AI-powered solutions to expedite drug discovery and development globally for biopharmaceutical clients, while also reducing portfolio risks associated with their assets.
• In June 2023 IQVIA, a global leader in advanced analytics, technology solutions, and clinical research services for the life sciences industry, had won the "Best AI-based Solution for Healthcare" award in the sixth annual AI Breakthrough Awards. These awards recognize top companies, technologies, and products in the global artificial intelligence (AI) market.