The rising burden of chronic illnesses has driven pharmaceutical companies to adopt several advanced drug discovery technologies to reduce time and cost. The pharmaceutical company faces several challenges in the drug discovery process due to regulatory hurdles and rising competition, which has necessitated the adoption of emerging techniques to ace drug discovery development.
Recently, almost all pharmaceutical companies have been utilizing advanced technology, such as automation, miniaturization, and robotics-based strategies, in compound screening and synthesis. They also use tools like microarrays, lab-on-a-chip, and bioinformatics. Utilizing these techniques enables market players to improve productivity and increase their market share.