The pandemic has exposed challenges in the pharmaceutical industry, from drug discovery to clinical trials to supply chain. Here’s how Apple, Microsoft, Google, and Amazon are addressing them and working to establish permanent places for themselves in the space through product launches, partnerships, M&A deals, and more.
Tech giants Amazon, Microsoft, Google, and Apple are making moves in the pharmaceutical industry.
The space is undergoing a digital transformation driven by an explosion in healthcare data and use cases for AI. Incumbents are quickly learning that inexperienced data science teams can cause more harm than good.
In response, big tech companies are building tech to streamline drug discovery, clinical trials, manufacturing & supply chain, and remote patient monitoring & health records.
Some tech giants will likely succeed in healthcare — as partners, competitors, or both — and will play a key role in pharma’s digital transformation. In this report, we examine each big tech company, analyzing the trends driving each company’s pharma strategy, their current initiatives, and what it means for the industry.
Download the report to find out:
- Which pieces of the pharma value chain big tech is attacking
- How big tech’s product strategies differ across drug discovery, clinical trials, manufacturing & supply chain, and patient monitoring & health records
- How big tech companies leverage partnership deals with incumbents to expand their pharma offerings
- Which strengths and capabilities differentiate each tech giant from others in pharma
- Pharma’s R&D returns have dropped by 65% over the past 6 years. Last year saw an uptick for the first time since 2014, suggesting that digital transformation initiatives may be taking hold. Big tech companies are leveraging their software, data, and AI expertise to capitalize on opportunities across the value chain.
- With massive amounts of available data, drug discovery is a rapidly growing opportunity for digital solutions in pharma. Funding to AI drug discovery companies hit a record high in 2020, with nearly $1.3B invested. This record has already been shattered in 2021, with $2.6B raised to date.
- The quantity of patient data housed in clinical systems skyrocketed nearly 500% from 2016 to 2020. This data is particularly valuable as “real-world evidence” (RWE) for drug discovery and clinical trials. Big tech is using this data to identify drug targets, predict real-time medication demand, and build patient monitoring and health records technology.