The State of the Biopharmaceutical Industry 2024: Genomics, IO Drug Development, Personalized/Precision Medicine and CGTs to Dominate as the Most Impactful Trends - ResearchAndMarkets.com
2024-01-22
DUBLIN--(BUSINESS WIRE)--The "State of the Biopharmaceutical Industry 2024 Edition" report has been added to ResearchAndMarkets.com's offering.
'State of the Biopharmaceutical Industry 2024 Edition'
While the fight against COVID-19 is not in the distant past, it has been already overshadowed by a range of macroeconomic and geopolitical factors. At the same time, ongoing drug pricing and reimbursement constraints, regulatory pressures, and biotech funding instability will continue to test pharmaceutical industry in the coming years.
The State of the Biopharmaceutical Industry 2024 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 trends, regulatory trends, and microeconomic factors that are going to impact and dominate the industry throughout 2024.
Post-COVID-19 recovery is met by a range of macroeconomic and geopolitical challenges.
Genomics, IO drug development, personalized/precision medicine and CGTs will dominate as the most impactful trends in the biopharmaceutical industry in 2024.
Among the most impactful trends, cell and gene therapies will be the key focus in 2024.
Geopolitical conflicts, inflation, and drug pricing pressures will be the top hindrances for pharmaceutical sector growth.
Vertical integration, patent expiry of biologics, and ESG factors are anticipated to have the greatest positive impact on the pharmaceutical industry.
Big data and AI will continue to dominate as transformational forces in the healthcare sector in 2024.
Across pharma value chain components, drug development and end users experience are lagging behind with innovation adoption.
The biopharmaceutical industry is more optimistic about industry growth in the next 12 months as compared to 2023, but level of optimism is still below 2022 levels.
A total of 44% of survey respondents expressed an optimistic or very optimistic sentiment on the biotech funding recovery in 2024.
Oncology, CNS, and infectious diseases will be the dominant areas for clinical trials initiated in 2023.
Oncology remains the single largest therapy area going into 2024, but metabolic disorders display the highest growth.
The IRA is believed to open the door to government price negotiation across all pharmaceuticals.
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.
Report 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 Topics Covered:
Executive Summary
Study Design
Emerging Industry Trends
Emerging Regulatory and Macroeconomic Trends
Industry's Growth Prospects
Watch Outs
Summary of Key Findings
A selection of companies mentioned in this report includes
Absci
Adaptimmune
Aetna
Altaris Capital Partners
Aqemia
Bayer
Celares Gmbh
Celltrion
Cigna's
Day One Biopharmaceutical
Dr Reddy's lab
Exelead
Express Scripts
Fresenius Kabi
Juventas
Lonza
mAbxience
Moderna
Sharp Services Inc
TheraPlatform
Tricida
Veranova
Zhaoke Ophthalmology
For more information about this report visit https://www.researchandmarkets.com/r/kj2v51
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