Biopharma futures
2022-02-21 13:04:40
I've been looking at a few industry reports on the future of biopharma as part of a course I'm on with
INSEAD Business School on Business Strategy and Financial Performance.
I thought I'd share some of my ramblings on Biopharma Futures.
Expectations are high
Pharmaceutical
companies are operating under a spotlight with an expectation of faster
innovation, of delivering societal impact, benefiting and better
representing the needs of patients, collaborating, and being more cost
effective. The recent pandemic highlighted the ability of pharmaceutical
companies to deliver scientific innovations and this has added to the
expectation of more rapid drug development, streamlining of drug
regulations, and a role in the prevention of future healthcare crises.
Pharmaceutical companies recognise that they need to partner with others
to find innovative approaches 'outside the walls' of the company. There
is also a drive to bring patients to the centre of innovation to ensure
more diverse representation in clinical trials (making results more
widely applicable) and to better understand the priorities for improving
people's health.
Precision and customisation is expected
There is an emerging focus on small patient groups (or even
individuals) and rare diseases through screening, monitoring, diagnostic
technologies, and pharmacogenomics. Combining and analysing clinical data from multiple sources can also help identify early information on disease.
There is already a new wave of technologies
Current technologies are leaving the lab and could they be at a similar stage to biologic therapies a few decades ago. Examples include gene therapy, other DNA technologies,
and precision technologies such as robotics and nanotechnology.
Digital is going to surge
There is an ongoing digital transformation of the work of pharmaceutical companies and the delivery of healthcare. There is also the growing field of digital therapeutics.
Business pressures are going to affect companies
The current business environment sees economic uncertainty with
COVID-19 recoveries, the need for more resilient supply chains, and the
recognition of the growing importance of China.
Sources:
Source: agnate.co.uk
biopharma future business technologies companies pharmaceutical insights 2021https
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