
Thematic Intelligence: The State of the Biopharmaceutical Industry 2024 Edition (Mid-Year Update)
Description
Thematic Intelligence: The State of the Biopharmaceutical Industry 2024 Edition (Mid-Year Update)
Summary
Although the pharmaceutical industry is often labeled as a recession-resistant, it is not immune to future challenges. Ongoing issues such as constraints on drug pricing and reimbursement (P&R), the evolving regulatory landscape, pressures to innovate, and pressures to address environmental, social, and governance (ESG) issues will continue to pose challenges for the pharmaceutical sector in the coming years. In this “The State of the Biopharmaceutical Industry” report, GlobalData examines the business environment and trends that are going to shape the biopharmaceutical industry in the next 12 months.
- The biopharmaceutical industry’s optimism regarding growth in the next 12 months is on the rise, but still below the levels seen in 2022.
- A total of 56% of survey respondents shared optimistic or very optimistic sentiment on the biotech funding recovery in 2024.
- The top-rated industry trends anticipated for the next 12 months include anti-obesity medications, personalized/precision medicine, immuno-oncology drug development, real-world evidence, and cell and gene therapies.
- Anti-obesity medications were identified as the emerging pharmaceutical industry trend to have the greatest impact for 2024.
- From macro and regulatory trends, vertical integration, drug pricing and reimbursement pressures, and patent expiration of biologics are expected to have the greatest positive impact on the pharmaceutical industry.
- Geopolitical conflicts and drug pricing and reimbursement pressures will be the main hindrances for pharmaceutical sector growth.
- Pharmaceutical companies will keep a close watch on both the BIOSECURE Act and EU Pharmaceutical Reform.
- The Inflation Reduction Act is believed to make government price negotiation more likely across all pharmaceuticals.
- Donanemab for Alzheimer’s disease is poised for major commercial success among the 2024 launches.
- Oncology, central nervous system, and infectious diseases are the dominant areas for clinical trials initiated in 2023.
- Oncology dominates the therapy landscape in 2024, but metabolic disorders display the highest growth.
- Big data and artificial intelligence will continue to dominate as transformational forces in the healthcare sector in the next 12 moths.
Key Highlights
- Optimism is rising about pharmaceutical industry growth in the next 12 months.
- Anti-obesity medications will take center stage.
- Geopolitical conflicts, as well as drug pricing and reimbursement-related concerns, will impede industry growth.
- Vertical integration, drug pricing and reimbursement constraints, and biologics’ patent expiry will have the most positive impacts on industry.
- AI is positioned to bring disruptive change to the pharmaceutical industry.
- Biotech funding continues to show signs of recovery after its post-COVID-19 pandemic decline.
Scope
- The report highlights the most impactful emerging technologies, industry trends, regulatory trends, and macroeconomic factors that are going to impact and dominate the industry throughout the next 12 months.
- Benchmark the impact of major themes on the biopharmaceutical industry in the next 12 months, including: emerging technologies, regulatory trends, macroeconomic trends, industry trends.
- Identify themes that will have the greatest positive or negative impact in the next 12 months.
- Capture opinions on these themes from industry respondents.
- Predict the industry’s growth prospects in the next 12 months.
Reasons to Buy
- Stay up to date with the major emerging technologies, regulatory, macroeconomic, and industry trends that will impact the pharmaceutical industry in the next 12 months.
- Explore how the biopharmaceutical landscape has changed.
- Identify the most impactful anticipated regulatory approvals and drug launches in the industry in the next 12 months.
- Gain insight into the regulatory and microeconomics trends that will have positive and negative effects on the biopharmaceutical industry.
- Identify emerging industry trends and innovations to gain a competitive advantage.
Table of Contents
119 Pages
- 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. Contact Us
- List of Tables
- Table 1: Spotlight on personalized/precision medicine
- Table 2: Spotlight on patient empowerment
- Table 3: Geopolitical Risk Summary
- Table 4: Emissions across the pharmaceutical value chain
- Table 5: Emerging technologies expected to have the greatest impact on the pharmaceutical industry in the next 12 months, 2020-2024 mid-year
- Table 6: Drug price negotiation timeline for implementation by 2026
- Table 7: Products selected for Medicare price negotiation
- Table 8: Key clinical trials in 2024
- Table 9: Abbreviations
- Table 10: Abbreviations
- Table 11: Related reports
- List of Figures
- Figure 1: Respondent Mix - Geography
- Figure 2a: Respondent Mix - Seniority Level
- Figure 2b: Respondent Mix - Company size
- Figure 3: Respondent Mix - Headquarter locations
- Figure 4: Anticipated impact of emerging industry trends on the pharmaceutical industry in the next 12 months
- Figure 5: The most impactful industry trends by region
- Figure 6: The most impactful industry trends by region
- Figure 7: Industry trends having the greatest impact on the pharmaceutical industry in the next 12 months
- Figure 8: Spotlight on anti-obesity medications
- Figure 9: Number of real-world evidence trials by sponsor type and year
- Figure 10: Top technologies best positioned to improve each of the processes within the pharmaceutical value chain
- Figure 11: AI can be used across the entire pharma value chain
- Figure 12: Reasons for current drug shortages in the US
- Figure 13: Spotlight on cell and gene therapy
- Figure 14: Spotlight on immuno-oncology
- Figure 15: Spotlight on antibody-drug conjugates
- Figure 16: Spotlight on mRNA vaccines in oncology
- Figure 17: Spotlight on mRNA vaccines for infectious diseases
- Figure 18: Spotlight on microbiome
- Figure 19: Spotlight on decentralized/virtual clinical
- Figure 20: Percentage of clinical trials using decentralized/virtual clinical trial components
- Figure 21: Anticipated impact of emerging regulatory and macroeconomic trends on the pharmaceutical industry in the next 12 months
- Figure 22: Geopolitical conflicts
- Figure 23: Pharmaceutical price trends, 2019-2023
- Figure 24: Number of 2023 risk events with a positive or negative impact on market access
- Figure 25: Inflation and recession mentions in annual company reports, 2016-24 (YTD)
- Figure 26: Regulatory and macroeconomic trends expected to have the greatest positive/negative impact on the pharmaceutical industry in the next 12 months
- Figure 27: Top positive emerging regulatory and macroeconomic trends - strongest positive scores by geography
- Figure 28: Impact of biologic patent expiration and biosimilars on the Crohn’s disease market
- Figure 29: Biosimilar competition
- Figure 30: Global sales - Humira (adalimumab)
- Figure 31: Dose manufacture outsourcing of small molecule and biologic NMEs
- Figure 32: Where Do Corporate Greenhouse Gas Emissions Come From?
- Figure 33: Reduction of scope 1 and 2 emissions
- Figure 34: Anticipated impact of emerging technologies on the pharmaceutical industry in the next 12 months
- Figure 35: Anticipated impact of emerging technologies on the pharmaceutical industry in the next 12 months, 2020-2024 mid-year
- Figure 36: Emerging technologies expected to have the greatest impact on the pharmaceutical industry in the next 12 months
- Figure 37: Increase in investment in emerging technologies due to inflation
- Figure 38: Decrease in investment in emerging technologies due to inflation
- Figure 39: Optimism about the industry’s growth during the next 12 months
- Figure 40: Optimism about the industry’s growth during the next 12 months, 2021-2024 mid-year
- Figure 41: Spotlight on radiotherapeutics
- Figure 42: Spotlight on radiotherapeutics
- Figure 43: The IRA’s impact on the biopharmaceutical industry
- Figure 44: EU pharmaceutical reform
- Figure 45: Distribution of average time to pricing by country
- Figure 46: EU pharmaceutical reform: lag in new medicine approvals hinges on the outcome of EU reforms
- Figure 47: Impact of the BIOSECURE Act
- Figure 48: Top five implications for the pharmaceutical supply chain if the BIOSECURE Act passes, by geography
- Figure 49: Optimism regarding biotech funding recovery in the next 12 months
- Figure 50: Support measures to tackle the downturn in biotech funding
- Figure 51: Promising signs of a rebound in private biotech venture financing
- Figure 52: Increase in large pharma M&A signals a return in deal-making confidence
- Figure 53: Planned trials in 2024
- Figure 54: Planned trials in 2024
- Figure 55: Planned trials in 2024
- Figure 56: Projected trial completion in 2024
- Figure 57: Top 10 selling drugs - 2023 vs 2024
- Figure 58: Top 10 therapy areas - 2023 vs 2024
- Figure 59: Drug launches - 2024 mid-year update
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