State of the Biopharmaceutical Industry in 2024 – Thematic Intelligence

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

To Get a Snapshot of the State of the Biopharmaceutical Industry Report

Download a Free Report Sample

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.

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

Buy Full Report for More Emerging Trend Insights in The Biopharmaceutical Industry

Download a Free Report Sample

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

Buy Full Report for More Insights on Emerging Technologies in The Biopharmaceutical Industry

Download a Free Report Sample

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)

Buy Full Report for More Insights on Therapy Areas in The Biopharmaceutical Industry

Download a Free Report Sample

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

Buy Full Report for More Insights on Sponsors in The Biopharmaceutical Industry

Download a Free Report Sample

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.