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The State of the Biopharmaceutical Industry 2021

Published: 31 January 2021 Code: GDHCHT247

Globaldata’s The State of the Biopharmaceutical Industry 2021 report focuses on the major developments in the biopharmaceutical industry.

2021 promises to be a year of continued innovation and change in the biopharmaceutical industry. As the COVID-19 pandemic continues to take its toll on businesses worldwide, pharmaceutical companies will be looking for new ways to create value, prepare for the future, and remain competitive in the ever-changing business landscape.

Despite the challenges of COVID-19, 2021 has the potential to be highly significant for our industry. The rapid development of successful vaccines has provided an opportunity to restate the value of the industry to the wider public, and some of the shifts brought about by COVID-19-related restrictions (e.g., clinical trials or HCP interactions) may accelerate much-needed change.

Core findings of the biopharmaceutical industry:

  • COVID-19 has been a wake-up call for pharma to innovate, rethink their operations, and adopt new ways of working to harness relationships with customers, regulators, and investors
  • With the new policies, regulations, and technologies constantly emerging, the pharmaceutical industry will be looking to offset the challenges arising from COVID-19 and seize opportunities to modernize the processes in its core value chain
  • IO and personalized/precision medicine received the highest scores among emerging industry trends likely to have an impact on the pharmaceutical industry in 2021
  • Despite much lower uptake in previous years, RPM got off to a very strong start and witnessed a massive uptake in the life-sciences sector in 2020
  • About half of survey respondents believed that drug pricing and reimbursement constraints will have the greatest negative impact on the pharmaceutical industry in 2021, which constitutes the highest percentage compared to the past two years

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