Global Pharmaceutical Industry - Top 5 Growth Opportunities for 2024: Tech-enabled Partnerships Propelling Drug Discovery and Development in Precision Oncology, Rare Diseases, and Obesity

DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Top 5 Growth Opportunities for the Pharmaceutical Industry, 2024" report has been added to ResearchAndMarkets.com's offering.

In 2024, the life science (LS) industry's focus on precision health will intensify. LS companies will augment their omics-based research capabilities and increasingly deploy AI and bioinformatics to discover personalized therapies. Partnerships between pharmaceutical companies and technology vendors will multiply, to support innovation in drug discovery for rare diseases, obesity, and oncology.

The possibility of targeting previously undruggable targets will drive investments and partnerships in ribonucleic acid (RNA) technology, protein degradation (PROTAC), and antibody engineering technologies. Precision oncology is a vital area of focus, reinforced by the establishment of more public-private partnerships. There will be an increase in cross-industry collaboration between pharmaceutical companies, contract research organizations (CROs), digital therapeutics, diagnostic companies, real-world evidence (RWE) solution vendors, next-generation sequencing (NGS) companies, and medical device players.

The implementation of artificial intelligence will intensify for accelerated drug discovery and drug repurposing, clinical trial democratization and design, RWD analysis, manufacturing automation, and supply chain transparency, with resulting benefits extending to patients, healthcare providers, and the pharmaceutical industry overall.

Top Growth Opportunities for 2024

• Growth Opportunity 1: AI-enabled Drug Repurposing for Rare Diseases
• Growth Opportunity 2: PPPs for Precision Oncology Scaleup in the Middle East and APAC
• Growth Opportunity 3: Agile Partnership Model for Drug Discovery and Development
• Growth Opportunity 4: Targeting Undruggable Proteins with Emerging Biotech Platforms
• Growth Opportunity 5: Combination Therapies for Obesity Management

For more information about this report visit https://www.researchandmarkets.com/r/43ai27

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