New markets, new measures
The overall market is experiencing steady, above-average growth, due to developments such as aging societies, growing populations and expanded access to health care services in emerging and developing countries. Success has been achieved in particular with the innovative mechanisms of biotechnology-based pharmaceuticals.
Biotech instead of chemicals
The key innovation impulse for the life sciences industry currently stems from the field of biotechnology. Today, among the world’s best-selling pharmaceuticals, more active substances are manufactured with biotechnology than with chemical processes.
Global in every respect
The life sciences industry is expanding its presence, especially in newly created markets in emerging and developing countries. New players are entering the market and competition is on the rise. In contrast, innovative drugs with worldwide demand are produced centrally because this is where the best combination of cost advantages, employee knowledge and yield can be found.
In the world’s most heavily regulated industry, regulatory requirements have increased, especially over the past few years. The aim is to ensure that medications are manufactured with consistent quality. At the same time, the industry is facing growing pressure from public health care systems to reduce pricing.
Process under the microscope
Process optimization plays a major role in the life sciences industry. This involves acquiring a better understanding of the manufacturing processes and implementing real-time monitoring and control of quality parameters. In this context, continuous, highly automated processes are becoming more and more established in new plants to manufacture products more efficiently and with the same quality.
Find the full forecast and opinion of our Life Sciences expert Klaus Köhler, Global Industry Manager at Endress+Hauser, here.