Today, driven by the rising application of artificial intelligence (AI) in healthcare and pharma landscape, the accuracy of pharmacovigilance (PV) operations has considerably increased. The AI-driven pharmacovigilance offers more precise predictive accounts of safety issues and case processing, along with improved aggregate reporting, and signal detection. Coupled with the implementation of AI, pharmacovigilance companies are adopting several other leading-edge technologies like optical character recognition, robotic process automation, natural language processing (NLP), and machine learning technologies to automate redundant tasks in the PV processes.
Leveraging machine learning technologies, pharmacovigilance teams, today, are effectively processing the ever-growing volumes of data. At the same time, with the use of ML, PV signal management tools—for collection of adverse drug reaction (ADR) data—are also showing promises of scouting the web for meaningful data related to a specific drug to predict or detect the probable instances of ADR.
Widespread digitalization of pharmacovigilance sector has pushed pharma companies to actively seek third-party pharmacovigilance solution providers to outsource their PV and regulatory activities related to managing and maintaining drug information. The multitude of pharmacovigilance service providers in the market today makes it difficult for companies to choose an appropriate vendor providing services best suited to their requirements. This edition of Pharma Tech Outlook presents to you, 10 most promising pharmacovigilance solution providers of 2019, featuring companies who are radically transforming the field of pharmacovigilance. Over the past few months, a distinguished panel of CEOs, CIOs, VCs and the editorial team of Pharma Tech Outlook have reviewed companies in the pharma tech sector and have shortlisted the forerunners who are meeting the challenges of the industry head-on.
We present to you, Pharma Tech Outlook’s “Top 10 Pharmacovigilance Consulting/Services Companies – 2019.”