Many industries across the globe have been disrupted by the influx of artificial intelligence (AI). And the healthcare industry is no different. The technology has far-reaching implications across the different areas of healthcare, including the discovery and development of better medicines, effective prescription of medicines, accurate monitoring of patient adherence to prescription, proper diagnosis of diseases at an early stage, clinical research studies and applications that support decision-based medical tasks, and others.
Given the enormous potential of AI in medicine, the adoption of AI technology by many pharmaceutical and biotechnology companies grew considerably over the past few years, which is leading to the growth of the AI in medicine market. Moreover, the lack of skilled healthcare professionals, the increased funding for the R&D activities concerning the use of AI in medicine, the growing importance of precision medicine fuel the growth of the industry. As per the report by Allied Market Research, the AI in medicine market is likely to accrue a sum of $18,119 million, thereby growing at a CAGR of 49.6% from 2018 to 2025.
With the aim of bringing better health outcomes for people worldwide and solving complex clinical problems, many biotechnology and pharmaceutical vendors are making significant investments in AI to offer solutions in the space. For instance, SQN Clinical, a functional biometrics organization recently launched SQN Health Analytics, a real-time analytics tool for clinical research that helps improve efficiency and oversight within clinical research. Helomics Corporation, a personalized healthcare company offering personalized medicine solutions for clients in various industries launched its new precision oncology insights platform which offers a personalized roadmap for oncologists and their patients. Insilico Medicine, a Maryland-based biotechnology company that develops artificial intelligence (AI) solutions for drug discovery, biomarker development, and aging research, announced its partnership with A2A Pharmaceuticals, Inc., another biotechnology company based in New York to advance the discovery of novel molecules for the Duchenne Muscular Dystrophy (DMD) – a debilitating and terminal genetic disorder characterized by progressive muscle degeneration and weakness.
SQN Clinical Unveils Real-Time Analytics Tool
Realizing the needs of its customers for enhancing clinical oversight and efficiency in the field of clinical research, SQN Clinical introduced an analytics tool called SQN Health Analytics. The cloud-based suite provides a clearer picture of the entire trial procedure and all the accumulated data to clinical professionals as and when they need it. The latest addition to the company’s portfolio, the suite features a high-level summary information, advanced filtering options and the ability to drill down to individual patient records. This brings an end to the time-consuming, manual, and complex data exploration process. SQN Health Analytics also allows having greater control over identifying potential issues before their appearance and allows for better trial management and in-trial decision making. Joseph Jameson, Data Analyst at SQN Clinical said, “We can display any trial data in a clear and uncluttered way, real-time, anytime and anywhere. Reports and snapshots can still be generated for any point in the trial, providing reliable data for review meetings and to support decision making. The system allows for comparative analytics between or within trials, providing the opportunity to explore relationships and patterns that weren’t easy to see before.”
Helomics’ New Platform Launched
The novel new Precision Oncology Insights platform by Helomics offers a personalized oncology strategy to oncologists and their patients. Initially, attention will be given to gynecologic cancers, especially ovarian. The platform enables easy testing of living tumor tissues from a patient to analyze the way the tumors respond to drugs. The drug response profile is then combined with other genomic and molecular data using the platform. An analysis of the results is performed by its Artificial Intelligence knowledgebase, D-CHIP (Dynamic Clinical Health Insights Platform), to create a roadmap which offers more context to help the patient’s oncologist personalize treatment. The strategy of the platform focuses on its network of 1,200+ oncologists as well as negotiating strategic deals with academic medical centers across the world.
Insilico Joins Forces with A2A to Form AI Drug Company
Insilico Medicine and A2A Pharmaceuticals, Inc. agreed to form a partnership in order to create a new company called Consortium.AI. Utilizing the most recent technologies of AI, the novel company is established to discover novel small molecules for the Duchenne Muscular Dystrophy (DMD) and other rare orphan diseases. The collaboration uses the strengths of the companies to accelerate the advancement of better therapeutics for patients who need them. Alex Zhavoronkov, founder and CEO of Insilico Medicine said, “A2A Pharmaceuticals has a team of highly talented drug hunters with a proven track record in discovery, development and licensing of the drug candidates. We are very happy to partner with their team to address the unmet medical needs of patients who are desperately waiting for solutions. This is a fantastic application for AI.”
Note: This is a guest post, and opinion in this article is of the guest writer. If you have any issues with any of the articles posted at www.marktechpost.com please contact at [email protected]