Life sciences industry includes all the businesses, companies, and
research institutions, which aim at improving the life of living beings. Some
of the branches of life sciences industry which are well known include biotechnology,
pharmaceutical, biomedicine, cell biology, and others. Hence, any part of
science that is connected with research and improvement of humans, animals, and
plants is considered under life sciences industry. As this industry directly
deals with the health of living beings, it is considered of utmost importance
in day to day life.
Every year there are different discoveries in the life science industry.
These trends change each year with new inventions, changes, and research. The
last year was full of revelations for life sciences industry. The world
witnessed COVID-19 pandemic which led to sudden changes such as nationwide
lockdowns. The pandemic led to changes in almost every branch of life science.
For instance, the pharmaceutical sector was hit and the biotechnology sector
was also affected to great extent. The pharmaceutical supply was compromised
and the biotechnology companies worked overtime to launch COVID-19 detection
tests. Amidst of the commotion caused by pandemic, the hospitals severely
suffered to handle the increased influx of infected patient. Companies such as Abbott
Laboratories, F. Hoffmann-La Roche AG and others launched tests for
identification of COVID-19. Other companies engaged in research related to
vaccine for the virus. Thus, the picture of life sciences industry last year
was fairly chaotic.
The year, 2020, came to an end with a relief of certain degree as the
lockdowns were relaxed to an extent and the world seemed to move with the usual
pace again. The year 2021 is expected to bring new changes in the life sciences
industry as COVID-19 has changed the picture on a large scale. In addition,
other areas of the industry are expected to experience growth in 2021.
Life Sciences Industry in 2021
Telehealth & mHealth expected
to experience growth along with rapid adoption of healthcare apps, wearable
& sensors
Telehealth is the utilization of digital information and communication
technologies such as computers and mobile devices to access and deliver healthcare
services remotely. Similarly, mHealth is defined as the use of mobile phones to
deliver preventive healthcare services. The use of smartphones and other
communication technologies is experiencing growth across the world.
Furthermore, the general public is now more concerned with overall wellbeing.
Maintaining fitness is now a major trend among the public. This has led to
adoption of healthcare apps. Similarly, awareness about chronic disease which
needs management at home has also led to adoption of apps, which allow the
management of symptoms. These apps also store daily readings which can then be
sent as a medical professional for further intervention. Similarly, wearable devices
such as fitness bands are also becoming increasingly popular as these are
easier to use and can be connected to mobiles to track various fitness factors.
In the last year, telehealth was being used as a measure out of
necessity due to lockdowns. However, this adoption is expected to continue in
2021 due to its ease of use. Furthermore, the option to manage chronic disease
at home is also expected to drive the growth in the year 2021.
Big data & artificial
intelligence is expected to gain increased awareness to reduce clinical burden
and conduct predictive analysis
Big data is an emerging technology and is beneficial for various
industries. It is also utilized in healthcare for broad range of functions. For
instance, when utilized correctly, this novel technology can provide healthcare
companies the information needed to streamline customer service processes which
is beneficial in personalizing healthcare. Thus, this emerging field is
explored in the healthcare sector and hence the adoption is expected to grow
making it an important trend in 2021. Furthermore, the pandemic wave last year
has changed the approach of healthcare services. The hospitals and clinics
witnessed a shortage of healthcare staff which has led to a need of better
management of clinical burden. Hence, novel technologies such as artificial
intelligence (AI) electronic healthcare record (EHR) are being explored which
can mitigate clinical burden and enhance the EHR documentation. In addition, AI
healthcare settings will be able to predict the length of a patient’s stay
which can lead to reduced costs, rescheduling flexibility, prioritizing at-risk
patients and others. Mostly, AI can also help healthcare organizations to
provide value-based care. Thus, increase in the use of big data and AI in
healthcare is an important factor to watch in 2021.
Acceleration in use of genome
editing
Genome editing is the ability of making highly precise changes in the
DNA sequence of a living organism which leads to customization of its genetic makeup.
Thus, this enables the influencing of traits which are very specific that get
inherited in new living cells. Furthermore, advanced techniques such as clustered
regularly interspaced short palindromic repeats (CRISPR) can be used to
manipulate the desired traits. For instance, CRISPR is making advances in
treatment of cancer and other lethal diseases. Hence, 2021 could witness the
use of CRISPR in the field of precision medicine which in itself is rapidly
evolving with time. Thus, this is expected to lead to formulation of customized
drugs, which will match the genetic makeup of the patient. This in turn can
help in eliminating side effects and making the drugs more effective.
Point-of-care testing for
infectious diseases will experience changes
In
vitro diagnostics (IVD) are used frequently in the healthcare sector. These
are available in form of kits and reagents, which are used to test samples
collected from patients such as blood, urine, and tissues. These products lay
foundation to diagnosis of various medical ailments such as infectious
diseases, cancer, cardiac diseases, and immune system disorders. In addition,
the current models of IVD testing in healthcare settings are failing to meet
high demand. Thus, with 2021, alternate testing sites could be seen around.
These alternatives will include pharmacies that will offer IVD testing at their
settings. Some of the major pharmacy chains have already started building the
infrastructure to offer IVD testing at their locations. Thus, this would
completely redesign the structure of IVD testing across the globe.
COVID-19 vaccine availability and
coverage
The world experienced chaos due to COVID-19 last year. More than a
million lives were lost over the globe. Thus, the vaccine against this deadly
virus is highly anticipated in every corner of the world. Many pharmaceutical
& biotechnology companies are expecting the launch of vaccines in 2021. In
addition, some nations have already started rolling out vaccines with
candidates receiving shots in first quarter of the year. Other nations have several
promising vaccines candidates which are expected to roll out in 2021.
Currently, there are approximately more than 150 vaccines that are being
explored in lab experiments out. 20 vaccines have reached phase I, 16 vaccines
are present in phase II, 13 have made to phase III and 2 vaccine candidate are
approved and licensed for general use. Some companies with vaccines candidates
in phase III trial include, AstraZeneca plc, Johnson & Johnson (Janssen) Novavax,
Inc. and others. The two commercially available vaccines authorized and
recommended by centers for disease control and prevention (CDC) include BNT162b2
by Pfizer, Inc., & BioNTech and mRNA-1273 by ModernaTX,
Inc. In addition, countries such as India is expecting the rollout of its two
indigenous COVID-19 vaccines, COVAXIN by Bharat Biotech and Covishield by Serum
Institute of India (SII) in January 2021.
In addition,
with COVID-19 vaccine availability, vaccine coverage is another major trend of
2021. Hence, various public and private organizations are working toward the
issue. For instance, COVAX, program under which Gavi, The Vaccine Alliance, world
health organization (WHO), coalition for epidemic preparedness innovations
(CEPI) and United Nations children's fund UNICEF are working in partnership
with developed and developing country vaccine manufacturers. Furthermore, the
sole aim of the program is to work with governments and manufacturers to ensure
COVID-19 vaccines are available worldwide to both higher-income and
lower-income countries.
Thus, COVID-19
Vaccine availability and coverage is a great factor to watch in 2021, vaccine
availability for novel corona virus will vary largely for various nation across
the globe. The coverage is also an important aspect to watch for.
Reduced timeline for approval of
certain drugs
Obtaining FDA approval for critical drugs such as those used in cancer
treatment is lengthy process. This can result in delayed approval of much
needed drugs which are essential for saving lives of millions of patients
across the globe. Hence, to address this issue, FDA’s Oncology Center of
Excellence launched a pilot program for oncology therapeutics called Real-Time
Oncology Review (RTOR). Furthermore, under this process manufacturers submit
clinical trial data as key data analysis. Through this figures are produced so
that the FDA can review the data in real time and advise accordingly. Thus,
this shortens the application review process to a matter of weeks or even days.
Therefore, RTOR is a huge factor that is anticipated to shape the biotechnology
industry in 2021.
Pharmaceutical supply,
manufacturing and storage over the globe
After the COVID-19 breakout last year, every industry has suffered from
new challenges. A lot has changed after the pandemic for every industry.
Similarly, pharmaceutical
industry was also hit by the pandemic waves. The year 2021 demands flexibility
and agility across the entire pharmaceutical supply chain. This includes every
part of supply chain such as raw material, intermediate, drug substance,
packaging solutions and others. Furthermore, international companies supplying raw
materials to finished drug products and medical devices require multiple
manufacturing sites to support the different markets they serve. Similarly, manufacturing
of pharmaceuticals is a major part of the industry, which is expected to change
further in 2021. In addition, these changes are not expected to be just at the individual company level.
Furthermore, industry and government wide decisions are expected to be seen. In
addition, glocalization is expected to be encouraged in the year 2021 by both
industry organizations and governments as the approach will shift to a risk management
environment. Pharmaceutical manufacturing is also expected to be seen in new
locations other than China such as South Korea, Vietnam, Mexico, and others. Furthermore,
2021 can also bring government amendments related to maintaining minimum safety
stocks for certain medicines. These could potentially mandate flexible
manufacturing capacity for certain drugs as well.
