Life Sciences

Biotechnology

The biotechnology sector strives to reduce time and hurdles in the path of Modernas and BioNTechs commercialization. From VC-backed entities to inventor-led startups, the growth factor is stymied in the wake of a lack of early-stage investment and capital for neutralizing development risks and maturing technologies. Companies need to implement molecular and synthetic biology more fruitfully on an industrial scale to combat their chemical counterparts. The inclusion of advanced concepts like 3D bioprinting, microfluidics, and personalized medicines is imminent. Still, companies need to chart a better roadmap to address IP protection, reimbursement, and regulatory strategies, proof of concepts to attract investments, funding, and future exit strategies.

Pharmaceuticals

Along with Artificial Intelligence and digital therapeutics integration, blockchain technology inclusion is a must for secure supply chain monitoring at all ends. Pharmaceutical companies must strategize better to combat supply chain disruptions, economic uncertainty, geopolitical pressures, and pandemic-triggered R&D gaps. A “zero trust” approach is mandatory to resolve the gaps and ensure that the cyber vulnerability of all suppliers is neutralized. Industry participants also need to take a stand on the “China plus one” concept while addressing the climate change impact on global supply chains.

Consumer Healthcare

The global consumer health market will be strong in the coming years despite the havoc created by Covid-19. The global consumer healthcare market is estimated to grow at approximately CAGR. 5.5% to 7%. Trends such as medicine shopping via e-commerce (OTC products), personalized healthcare, digital tools (wearables, etc.), Telehealth, AI, real-time healthcare data and Internet of Medical Things (IoMT), 3D printing in healthcare, etc. will be the center of attraction in this decade. Customizing medical treatment for a patient’s needs and patient-centric care will improve the patient experience. The pandemic has boosted the usage of e-commerce platforms for shopping health-related products, OTC products, etc., and its use will keep increasing in the upcoming time. These trends will get more and more advancements and usage in the near future as far as the consumer healthcare space is concerned.

Hospitals & Healthcare

Bankruptcies, inflationary pressures, labor expenses, and skill shortages are some of the biggest hurdles barring the growth of the hospital sector globally. Regulatory challenges, macroeconomic factors, weak market returns, and added baselines in staff costs are some key challenges that hospitals will need to address in the forthcoming years. The healthcare sector, too, needs to deal with drug development and research inefficiencies, update inventory management, improve delivery systems expenditure, offer better customer experience, manage heavy data influx, deploy new payment models, and address transforming healthcare policies all over the globe. The hospital and healthcare industry needs to adopt a hybrid approach that includes hi-tech measures like the Internet of Medical Things, telemedicine, digital pills et al., and advanced management tactics to fare through the demanding market and economic dynamics.

Digitization

The Covid-19 pandemic has transformed the shape of first response and healthcare with the fast-tracking of vaccine approvals, pharmaceutical collaborations from all around the world, and enhanced quality and safety in manufacturing.

A paradigm shift in life sciences innovations has revolutionized the pharmaceutical and biotechnology sector; through disruptive technologies. Trends such as personalized therapeutics, 3D printing, delivery systems with improved pharmacokinetics, biomarker identification, point of care diagnosis, automated clinical trials, lab-on-chip, GMO-based vaccine, drug synthesis, etc. are renewing the definition of healthcare and well-being. With high demand and rapid transitions in the field of drug discovery, it’s imperative for businesses to digitalize research and development by adopting Artificial Intelligence, Machine Learning, Natural Language Processing, and Automation.

New Operational Model

The Covid-19 pandemic has transformed the shape of first response and healthcare with the fast-tracking of vaccine approvals, pharmaceutical collaborations from all around the world, and enhanced quality and safety in manufacturing.

A paradigm shift in life sciences innovations has revolutionized the pharmaceutical and biotechnology sector; through disruptive technologies. Trends such as personalized therapeutics, 3D printing, delivery systems with improved pharmacokinetics, biomarker identification, point of care diagnosis, automated clinical trials, lab-on-chip, GMO-based vaccine, drug synthesis, etc. are renewing the definition of healthcare and well-being. With high demand and rapid transitions in the field of drug discovery, it’s imperative for businesses to digitalize research and development by adopting Artificial Intelligence, Machine Learning, Natural Language Processing, and Automation.