The pharmaceutical sector is one of the UK’s largest manufacturing sectors in terms of employment and economic value. But after years of rising costs and a falling behind in efficiency, the industry has turned to big data to help shape its future. James Pozzi explores.
With the global market for medicines forecast to grow from its £612bn in 2011 to £770bn by 2016 according to research by the IMS Institute for Healthcare Informatics, big pharma will continue to be big business. The UK is also a sizeable player in the global market with an estimated £60.1bn annual turnover. It also operates with genuine industry heritage, having developed drugs including propranolol, salbutamol and…
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