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Nov 16th, 2023
Nov 16th, 2023
The biopharmaceutical industry tends to move at a steady pace. It is most certainly the tortoise and not the hare! This shouldn’t be surprising given that it is a highly regulated and complex industry.
In a recent article for bioprocess online, Eric Langer of BioPlan Associates, Inc outlined some factors that are changing and affecting the sector today.
According to Langer, annual sales of biopharmaceuticals are now over $200 billion globally, and industry revenue continues to grow at approximately 15% annually. This growth will see a continued increase in market approvals for innovative biopharmaceuticals and biosimilars.
Biopharmaceutical manufacturing is increasing worldwide, but most rapidly in developing countries.
There is an ever-increasing demanding for equipment suppliers to continuously improve their technologies. This means that suppliers are finding that they need to heavily invest in research and technology in order to ensure that they don’t get left behind.
Single-use technology is continuing to grow at the expense of its stainless counterparts. Although stainless steel still has a place in the industry, more and more major market countries are becoming single-used based.
What factors do you think will affect the biopharmaceutical industry in 2017?