State of the Biopharmaceutical Industry in 2024 – Thematic Intelligence

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All the vital news, analysis, and commentary curated by our industry experts.

Accessing in-depth insights from the ‘State of the Biopharmaceutical Industry’ report will help you in:

  • Examining the current attitudes of business leaders toward the emerging trends impacting the biopharmaceutical industry in the next 12 months.
  • Benchmarking the impact of major themes on the biopharmaceutical industry in 2024, including emerging technologies, regulatory trends, macroeconomic trends, and industry trends.
  • Identifying the most impactful anticipated regulatory approvals and drug launches in the industry in 2024, learning about top-selling drugs (2023 vs 2024), and obtaining an overview of the clinical trials landscape for 2024.
  • Uncovering the healthcare industry professionals’ sentiment about the industry’s growth prospects during the next 12 months and understanding how this sentiment changed over the past 3 years.

How is the ‘State of the Biopharmaceutical Industry’ report different from other reports in the market?

  • The report identifies themes that will have the greatest positive or negative impact on the pharmaceutical industry in 2024 and captures opinions on the themes from industry respondents.
  • The report provides a qualitative analysis of the top regions (Europe, North America, and APAC).
  • The report analyzes key trends and technologies, including:
    • Emerging technologies   
    • Regulatory trends   
    • Macroeconomic trends   
    • Industry trends
  • The report highlights the planned clinical trials, projected clinical trial completions, top-selling drugs, and drug launches that are going to happen in 2024.
  • The report elucidates other topics that GlobalData has identified as important for you in 2024, including highly anticipated drug launches, planned clinical trials, Artificial Intelligence, recovery of biotech funding, the Inflation Reduction Act, etc.

 We recommend this valuable source of information to anyone involved in:

  • Pharmaceutical Industry (Big Pharma, Small Biotech, Start-Ups, etc.)
  • Pharmaceutical Industry Suppliers (e.g., Consulting Companies, CMOs, CDMOs, CROs, Technology Vendors)
  • Professional Services (e.g., Investment Companies, Investment Banks, etc.)
  • Biotech
  • Consulting Companies
  • Technology Companies and Start-ups

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State of the Biopharmaceutical Industry Overview

Vertical integration, patent expiration of biologics, and ESG factors are anticipated to positively impact the pharmaceutical industry in the coming years. The biopharmaceutical industry is more optimistic about growth in the next 12 months compared to what it witnessed in 2023. However, the growth is still below 2022 optimism levels as geopolitical conflicts, inflation, and drug pricing pressures are likely to hinder the sector’s expansion.

The State of the Biopharmaceutical Industry research report examines the business environment and trends that are going to shape the biopharmaceutical industry in 2024. The report highlights the most impactful emerging technologies, industry, regulatory, and microeconomic factors that are going to impact and dominate the industry throughout 2024.

Key Emerging Trends ·        Genomics

·        Immuno-Oncology Drug Development

·        Personalized/Precision Medicine

·        Real-World Evidence

·        Remote Patient Monitoring

Key Emerging Technologies ·        AI

·        Big Data

·        Cybersecurity

·        Digital Media

·        Social Media

·        Virtual and Augmented Reality

·        IoT

Key Value Chain ·        Supply Chain

·        Drug Development

·        End-User Experience

·        Physician-Targeted Sales and Marketing

·        Drug Discovery

·        Manufacturing

·        Patient-Targeted Sales and Marketing

Key Therapy Areas ·        Oncology

·        Central Nervous System

·        Infectious Disease

·        Cardiovascular

·        Gastrointestinal

·        Metabolic Disorders

Key Industry Sponsors ·        AstraZeneca

·        Novartis

·        Johnson & Johnson (J&J)

·        F Hoffman La Roche

·        Pfizer

·        GSK

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Biopharmaceutical Industry - Key Findings

In 2024, inflation will slowly fall, however, businesses may face turbulent times as the geopolitical landscape is still unstable. Geopolitical conflicts bring uncertainty to the economic outlook as deteriorating relationships may lead to reduced cooperation, Initial Public Offering (IPO) market disruptions, and economic sanctions. To propel market growth, the pharmaceutical industry will need to innovate and increase resilience. Companies need to focus on the modernization of R&D models, incorporation of ESG factors, or implementation of emerging technologies to gain a competitive edge in the market. In addition, trends such as vertical integration and patent expiration of biologics will assist in streamlining operations and stimulating growth.

Biopharmaceutical Industry - Emerging Trends

The key emerging industry trends in the biopharmaceutical industry are genomics, immuno-oncology drug development, personalized/precision medicine, real-world evidence, and remote patient monitoring among others. Genomics has been identified as the top emerging pharmaceutical industry trend for 2024.

The growth of the genomics market is attributed to the increasing prevalence of chronic diseases, plummeting DNA sequencing costs, and increasing funding for genomics. In addition, genomics has helped in tracking and understanding the spread of COVID-19, which further heightened its popularity and increased investments by the biopharmaceutical industry in this trend.

Biopharmaceutical Industry Analysis, by Emerging Trends, 2024

Biopharmaceutical Industry Analysis, by Emerging Trends, 2024

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Emerging Technologies in the Biopharmaceutical Industry

The key emerging technologies influencing the biopharmaceutical industry are AI, big data, cybersecurity, digital media, social media, virtual and augmented reality, and IoT among others. Across all geographies, AI and big data are expected to garner the highest impact on the pharmaceutical industry, in 2024.

Since the analysis of big data is best powered by AI, these technologies can be used together to achieve the desired results. Competence in emerging technologies is critical for healthcare companies to provide improved patient care at a micro level. Furthermore, using these technologies will allow companies to obtain higher levels of data insights, which will benefit operational and clinical efficiency.

Biopharmaceutical Industry Analysis by Emerging Technologies, 2024

Biopharmaceutical Industry Analysis by Emerging Technologies, 2024

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Biopharmaceutical Industry Value Chain

The value chain of the biopharmaceutical industry includes supply chain; drug development; end-user experience; physician-targeted sales and marketing; drug discovery, manufacturing, and patient-targeted sales; and marketing. Among all the pharma value chain components, drug development and end-users experience are lagging in terms of innovation adoption. It is essential to get medicines to end-users faster. To achieve this, clinical trials need to be more efficient, with fewer delays and lower costs. Therefore, investments in R&D and innovation can enhance user experience and drive loyalty and product uptake.

Therapy Areas in the Biopharmaceutical Industry

The top therapy areas for planned clinical trials to be initiated, in 2024, in the biopharmaceutical industry, are oncology, central nervous system, infectious disease, cardiovascular, gastrointestinal, and metabolic disorders among others. Oncology has the highest number of trials to be initiated in 2024.

Biopharmaceutical Industry Analysis by Therapy Areas (To be Initiated in 2024)

Biopharmaceutical Industry Analysis by Therapy Areas (To be Initiated in 2024)

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Biopharmaceutical Industry – Competitive Landscape

Top industry sponsors for trials projected to be completed in 2024 are AstraZeneca, Novartis, Johnson & Johnson (J&J), F Hoffman La Roche, Pfizer, and GSK among others. AstraZeneca, Novartis, and Johnson & Johnson will likely complete the most industry trials in 2024.

Biopharmaceutical Industry Analysis, by Industry Sponsors, 2024

Biopharmaceutical Industry Analysis, by Industry Sponsors, 2024

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Scope

– Benchmark the impact of major themes on the biopharmaceutical industry in 2024, including: emerging technologies, regulatory trends, macroeconomic trends, industry trends.

– Identify themes that will have the greatest positive or negative impact in 2024.

– Capture opinions on these themes from industry respondents.

– Predict the industry’s growth prospects in 2024.

Key Highlights

– There is hope for more stability in 2024, but the road is still rocky.

– CGT is the trend that will continue to have the greatest impact on the pharmaceutical industry in 2024.

– Inflation, geopolitical conflicts, and drug pricing and reimbursement-related concerns will be the leading impediment to industry growth.

– Vertical integration, patent expiry of biologics, and ESG factors will have the most positive impacts on industry.

– AI is set to bring disruptive change in pharmaceutical industry

– Optimism about the pharmaceutical sector’s growth prospects recovered from the lows seen in 2023.

AbbVie
Absci
Actinium Pharmaceutical
Adaptimmune
Aetna
Altaris Capital Partners
Alvotech
Amgen
Aqemia
Astellas Pharma
AstraZeneca
Bayer
BenevolentAI
Berkshire Sterile Manufacturing (BSM)
Biocon Biologics
Biogen
BioNTech
Biosynth
Bio-Thera Solutions
Boehringer Ingelheim
BridgeBio Pharma
Bristol Myers Squibb
Catalent
Celares Gmbh
Celltrion
Cigna’s
CVS Health
Day One Biopharmaceutical
Dr Reddy's lab
Eli Lilly
Exelead
Express Scripts
Exscientia
Ferring Pharma
Formycon
Fresenius Kabi
Fuji Pharma
Genmab
Geron Corp
IASO Bio
ImmunityBio
Incyte
Insilico
Insud Pharma
Johnson & Johnson
Junshi Bio
Juventas
Karuna Therapeutics
Lonza
mAbxience
Madrigal Pharmaceuticals Inc
Merck & Co
Metrics Contract Services
Mochida Pharmaceutical
Moderna
Mylan
Novartis
Novo Nordisk
Optum
Amedisys
Pear Therapeutics
Pfizer
Regeneron
Roche
Samsung Bioepis
Sandoz
Sanofi
Seres Therapeutics
Sharp Services Inc
STgen Bio
Strides Pharma Science
Synaffix
Syndax Pharmaceutical
Teladoc Health
TheraPlatform
Tricida
UnitedHealth
Veranova
Verona Pharma Plc
Viatris
Zhaoke Ophthalmology

Table of Contents

1. Executive Summary

2. Study Design

3. Emerging Industry Trends

4. Emerging Regulatory and Macroeconomic Trends

5. Emerging Technologies

6. Industry’s Growth Prospects

7. Watch Outs

8. Summary of Key Findings

9. Appendix

10. Authors and Contributors

11. Our Thematic Research Methodology

12. Contact Us

Frequently asked questions

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