Dublin, July 03, 2024 (GLOBE NEWSWIRE) -- The "State of the Biopharmaceutical Industry 2024 Edition (Mid-Year Update)" report has been added to ResearchAndMarkets.com's offering.
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, the analyst examines the business environment and trends that are going to shape the biopharmaceutical industry in the next 12 months.
Key Market Insights:
- 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.
Report 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.
Company Coverage:
- AbbVie
- Accord Healthcare
- Actinium Pharmaceuticals
- Adaptimmune Therapeutics
- Aetna
- Akeso
- Almac
- Altor Bioscience
- Alvotech
- Amazon
- Amgen
- Amylyx Pharmaceuticals
- Astellas Pharma
- AstraZeneca
- Autolus Therapeutics
- Biocon Biologics
- Biogen
- BioNTech
- Bio-Thera Solutions
- Boehringer Ingelheim
- BridgeBio Pharma
- Bristol Myers Squibb
- Catalent
- CeleCor Therapeutics
- Celltrion
- Chia Tai Tianqing Pharmaceutical
- Cigna
- CVS Health
- Daiichi Sankyo
- Day One Biopharmaceuticals
- Dr. Reddy's Laboratories
- Eli Lilly
- Express Scripts
- F. Hoffmann-La Roche
- Ferring Pharma
- Formycon
- Fresenius Kabi
- Fuji Pharma
- Genmab
- Geron Corp
- Gilead
- IASO Bio
- Incyte
- Intas Pharmaceuticals
- Iovance
- Janssen
- Jazz Pharmaceuticals
- Johnson & Johnson
- Karuna Therapeutics
- Lantheus Holdings
- Merck & Co
- Merus NV
- Mochida Pharmaceutical
- Moderna
- Mylan
- Novartis
- Novo Nordisk
- Ono Pharmaceuticals
- Optum
- Optum-Amedisys
- Pfizer
- Qilu Pharmaceutical
- Regeneron
- RemeGen
- Roche
- Samsung Bioepis
- Sandoz
- Seagen
- Seres Therapeutic
- Sichuan Kelun Pharmaceutical
- STgen Bio
- Strides Pharma Science
- Syndax Pharmaceuticals
- Thermo Fisher
- UnitedHealth
- Verona Pharma
- Vetter
- Viatris
- WuXi
- Xaira Therapeutics
For more information about this report visit https://www.researchandmarkets.com/r/hqj11q
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