Top Biotechnology Trends Businesses Need to Watch Out Before Making Investments

Recent biotechnology trends such as the rising demand for therapeutic and diagnostic solutions, DNA sequencing, genome editing, and advancements in novel technologies are expected to spur the growth of biotech companies, globally. This growth is further fuelled by the increasing demand for genetics and regenerative medicines, penetration of artificial intelligence in the industry, and favorable policies. However, the implementation of stringent regulatory frameworks and risks associated with genetic data along with high operational costs may hinder the market’s progress. Here are the new trends in the biotechnology industry that companies need to track to ensure success in the biotech market.

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What are the Latest Biotechnology Trends?

Biotechnology trends #1: CRISPR/ Cas biosensing systems

Apart from genome editing, the CRISPR/ Cas9 effector has wide biosensing applications. It allows highly sensitive, specific, rapid, cost-efficient, and multiplex detection of target nucleic acids without the need for technical expertise and complicated equipment. As the field continues to mature, genome editing with CRISPR/Cas systems will gain massive popularity for next-generation diagnostic biosensing platforms.

Biotechnology trends #2: New industrial therapeutic frontiers

Microvesicles (MVs) released by body cells can now be utilized for smart targeted therapeutic drug delivery systems. The crucial advantages of MVs over drugs include lack of immunogenicity, ability to overcome natural barriers, and intrinsic cell targeting properties. MVs are easier to process and can be modified for specific applications. Currently, naive (unmodified) and drug-loaded MVs are under development and are expected to impact the whole biotech industry.

Biotechnology trends #3: Cancer immunotherapy

Cancer immunotherapy development is expected to move beyond the chimeric antigen receptor (CAR) T- cells in 2019. Next-generation cell allogeneic products are expected to start registration trials of UCART19 in acute lymphoblastic leukemia (ALL) in the second half of 2019. This is one of the major biotechnology trends that can work in the favor of top biotech and biopharma companies.

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Biotechnology trends #4: Bionic organisms

Although the concept of bionic organisms may sound like straight-up science fiction, they can help alter the functionality of a living system to a great extent. In simple terms, cochlear implants and robotic prostheses can be described as cyborg devices and microchipping cat or dog will make it a bionic pet.

Biotechnology trends #5: Miniaturized bioreactors

Advances in microfluidic fabrication capabilities have compelled biotech companies to design flow bioreactors at the microscale. Such bioreactors incorporate enzymes to produce highly pure products with minimum cost and biological investment, while ensuring portability and ease of operations. This trend of designing devices with unusual flow paths is expected to be on the rise in the biotech sector.

Biotechnology trends #6: Increase in regulatory demands

The biotech industry is characterized by a rapidly evolving regulatory landscape and growing concerns about transparency for both stakeholders. As a result, the biotech sector has been subjected to increased scrutiny and more stringent monitoring guidelines. For instance, the Physicians’ Payment Sunshine Act in the US requires disclosure of physicians having tie-ups with pharma companies. Furthermore, the FDA has started a regulatory body for Laboratory Developed Tests (LDTs).

Analyzing the latest biotechnology trends is imperative for companies to sustain themselves in the market. Request a free demo to know how our experts can help you analyze the impact of newly developing biotechnology trends.

Biotechnology trends #7: Better investments

Supporting industries such as health services companies in the biotech sector will continue to shine brightly for investors. Billions of dollars are being invested in the healthcare industry as a whole and higher valuations are expected to stay consistent over the next few years despite experiencing a rough financial year.

Biotechnology trends #8: Rise of generics

Very soon, it is expected that the number of generics and biosimilars in the market will continue to grow. Blockbuster drugs that can be replaced by traditional small-molecule generics are certain to face strong challenges from generic competitors over the next 10 years. Also, it will force innovators to accelerate the search for products that can reduce the healthcare costs for patients.

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A Comprehensive Overview of the Biotech Industry

The developments in the biotech industry are one of the most sophisticated and elegant achievements of modern science. Biotechnology is concerned with the use of living organisms or the biological systems found in them to make technological advancements and adopt those technologies to suit the needs of different fields ranging from agricultural practice to the medical sector. In fact, in the recent years, the biotech industry has won several laurels for their advancements and discoveries that have simplified tasks for several other sectors.

Types of biotechnology

Medical biotechnology

This is one of the most common types of biotechnology. It involves the use of living cells and other cell materials for the purpose of improving the standards of healthcare. Essentially, it is used for discovering cures as well as eradicating and preventing diseases. This branch of the different types of biotechnology is concerned with producing pharmaceutical drugs or vaccines as well as other chemicals to combat diseases.

Agricultural biotechnology

Agricultural biotechnology is a recent development among the different types of biotechnology. The applications of biotechnology in agriculture have yielded remarkable results. It primarily focuses on developing genetically modified plants for the purpose of increasing crop yields. They also help in introducing specific characteristics to the plants that provide them with an advantage when growing in regions that place some kind of stress factor on the plant, such as weather and pests.

Industrial biotechnology

In industrial biotechnology, biological resources are used to produce materials, energy, and chemicals that are required for the development of industrial goods. They also engage in producing bio-based products like paper, pulp, textiles, biofuels, and biogas. It plays a vital role in improving the performance of the industry and adds value to its products too. Notably, they are also known to provide several other benefits such as pollution prevention, resource conservation, and cost reduction. Industrial biotechnology is also used to manufacture items such as beer and wine, washing soaps and detergents, and several other personal care products.

Applications of biotechnology

The applications of biotechnology in various industries are reducing the excessive dependence on fossil fuels and are helping in the development of better and more environment-friendly products. Here are some of the key sectors that are greatly benefiting from the discoveries in the biotech industry:

Nutrient supplements

One of the most iconic inventions in the biotech industry is the infusion of nutrients into food. It provides food with heavy nutrients that are necessary for such situations. It provides food with heavy nutrients that are necessary, especially in situations where people are ill or undernourished.

Healthcare

Healthcare is one of the sectors that has benefited the most from the developments in the biotech industry. Biotechnology is used in the healthcare industry for diagnosis and treatment of different diseases. They are also used in the development of vaccines that help prevent deadly diseases.

Food processing

Food materials are characterized by their tendency to perish easily and have shorter shelf-lives. However, recent innovations in the biotech industry help in converting non-palatable and easily perishable products to edible and portable foods and beverages that have a longer shelf life. Biotechnology also helps in improving the edibility, texture, and storage of the food materials.

Biofuels

The biotech industry is increasingly engaged in the discovery of alternative sources of energy. The dwindling oil resources in the world and their related environmental impacts are some of the major factors fueling this research. One of the key examples of success in this area is the use of corn to produce combustible fuel for running car engines. These fuels do not produce the greenhouse gases and harm the environment.

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Industry Best Practices for a Leading Firm Specializing in Red Biotechnology – A SpendEdge Case Study

Engagement Overview:

A global player in the biotech industry wanted to analyze how peer companies enhance business value. They wanted to identify and benchmark the industry best practices to improve organizational growth. To identify and focus on key performance metrics in the red biotechnology segment, the biotech industry client approached SpendEdge to devise a comprehensive approach that would help them identify and benchmark the industry best practices. A detailed quantitative analysis of various categories within the supply chain was carried out to identify and benchmark the industry best practices to be followed.

About the Client:

A multinational biotech industry firm specializing in the red biotechnology category.

Business Challenge:

The biotech industry client was facing challenges in identifying and benchmarking the industry best practices.

How did SpendEdge Help the Client?

Step 1: Determined and analyzed the processes to be benchmarked

This step revolves around the process of identifying and defining the industry best practices to be benchmarked. It is regarded as a crucial step in identifying the best practices as incorrect identification at the initial stage could result in wastage of valuable resources at later stages.

Step 2: Analyzing gathered data to determine gaps

A detailed analysis of the gathered data helped the client to discover the extent to which their present performance lags when compared to the best in that particular segment. The implementation of this step offered a clear picture of their business processes compared to that of their peers.

Step 3: Devised a three-step approach to continuously monitor and recalibrate the industry best practices

A three-step approach was devised to help the biotech industry client to continuously monitor and recalibrate the industry best practices. This also helped ensure that their business remains on the cutting edge by continuously evaluating the benchmarked industry best practices and reinstituting the benchmarking process when needed.

However, the correct implementation of the process will result in the development of realistic and unambiguous new standards for the processes involved in the identification of best practices.

Key questions answered in this industry best practices benchmarking engagement include:

Benefits of the Engagement:

The industry best practices engagement helped the red biotechnology client to identify the key performance metrics to fine-tune their strategies and drive growth. Our industry best practices experts worked as an extension of the firm to identify the success factors that uncovered major opportunities for improving their services.

Why incorporate industry best practices benchmarking?

It has been observed that a majority of the companies are reluctant to benchmark best practices. However, to withstand growing competition, biotech industry players must adopt better strategies and deliver better results at a relatively lower cost. Moreover, industry best practices benchmarking does not mean blindly ‘copying’ what competitors do, it helps organizations gain detailed insights into the acceptable standards in the industry. Thus, making it a necessity for businesses to understand where they stand vis-à-vis the specific industry standard.

Our Findings:

In the pursuit of meeting their business goals, biotech industry players may sometimes put on blinkers and devote their time and energy to focus entirely on achieving the set goals. Such an approach to drive organizational growth not only steers the firm and digresses them from the focused path but also insulates the company from learning from the activities occurring in the business environment. Therefore, an essential way to prevent this from occurring is to constantly keep abreast of the industry best practices and evaluate the benchmarks periodically.

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Procurement Market Intelligence for a Leading Agricultural Biotechnology Company – A SpendEdge Case Study