The biopharmaceutical industry has grown impressively in recent years, with its global compound growth rate (CAGR) estimated to reach 8.5% between 2018-2023, outstripping traditional New Chemical Entity sectors.
Emerging novel drugs show huge therapeutic potential, such as antibody-drug conjugates (ADCs), checkpoint inhibitors and viral gene therapy. But as the industry grows, it may face potential issues securing an expanded supply chain.
Until recently the bio industry’s primary focus was to simply get their products to clinic as quickly as possible, with little incentive to focus on product and supply chain efficiency. However, now that the industry is experiencing greater demand and product volumes are increasing – coupled with generics and healthcare reforms – there is an increased desire to explore how overall cost of production can be lowered.
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