![]() The key emerging industry trends in the biopharmaceutical industry are genomics, immuno-oncology drug development, personalized/precision medicine, real-world evidence, remote patient monitoring, electronic health records, biosimilar uptake, decentralized/virtual clinical trials, digital therapeutics, and patient empowerment among others. Emerging Industry Trends in the Biopharmaceutical Industry In addition, big data and AI will continue to dominate as transformational forces in the healthcare sector in 2023. Vertical integration, patent expiry of biologics, mega M&As, and ESG factors are anticipated to have the greatest positive impact on the pharmaceutical industry. To sustain growth, the pharmaceutical industry will need to innovate.įurthermore, to remain competitive, businesses need to ensure integration, cost-effectiveness, efficiency, and customer excellence, as well as to attain innovative solutions and investor support. Financial and costs pressures, as well as increasing regulations and an uncertain economic outlook will be contributing to decreased levels of optimism in growth prospects. In 2023, businesses will face turbulent times, and the pharmaceutical industry is not an exception. ![]() Key Findings of the Biopharmaceutical Industry The report highlights the most impactful emerging technologies, industry, regulatory, and microeconomic factors that are going to impact and dominate the industry throughout 2023. ![]() The state of the biopharmaceutical industry research report examines the business environment and trends that are going to shape the biopharmaceutical industry in 2023. At the same time, the pharmaceutical industry will have to deal with increased drug development costs that will affect their margins. However, the looming global recession is likely to have implications on healthcare budgets, forcing governments and regulators to put more stringent laws in place around drug pricing and market access. The pharmaceutical industry has long been labelled as a recession-proof, as medicines are essential products that cannot be completely replaced. State of the Biopharmaceutical Industry Report Overview
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