Biopharmaceutical innovations are among the most ingenious and refined achievements of modern medical science. New concepts, techniques and therapies are emerging, such as Provenge cell therapy, which can be used to treat cancer, and gene therapies, which offer even more amazing promise for disease remission and regenerative medicine.
In addition, the COVID-19 pandemic has caused a huge boom in the pharmaceutical industry. This is because more and more attention is being paid to increasing manufacturing capacity and initiating new drug development research.
Biopharma: leading the way in the pharmaceutical sector
In the last two years, the biopharmaceutical sector has deepened its roots in the medical and pharmaceutical industry, due to the transformation of pharmaceutical companies towards biotechnology, creating opportunities for growth.
In addition, increasing advancements in technologies such as 3D bioprinting, biosensors, and gene editing, along with the integration of advanced artificial intelligence and virtual and augmented reality, are estimated to create even more growth prospects. .
According to one study, the biopharmaceutical sector earns nearly $163 billion worldwide and is growing by more than 8% each year, twice as much as the traditional pharmaceutical sector.
Massive investments directed at Biopharma
Investment in biotechnological research and development (RD) has yielded better returns than the pharmaceutical industry average. Therefore, several pharmaceutical companies are shifting their presence towards biopharma to take advantage of upcoming opportunities by investing in and expanding their biotech infrastructure.
For example, Thermo Fisher Scientific Inc., an American manufacturer of scientific instrumentation, reagents and consumables, and software services, announced a $97 million investment to expand its bioanalytical laboratory operations at three new locations in the United States united With this investment, the company will add 150,000 square feet of scientific workspace and install the most advanced drug development technologies to produce life-changing medicines for patients who need them.