Global medicine spending is projected to increase at 2–5% annually and exceed $1.1 trillion in 2024 according to a report by IQVIA – Global Medicine Spending and Usage Trends. This spending is driven both by increased use and innovation. Biotech innovations form core driver of growth of life science industry. Biologics are approximately 1/3 of global medicine sales and the largest contributor to revenue growth year on year by far.
Bringing a drug or other biotech innovations require large amount of capital, in-depth technical and regulatory knowhow and efforts and co-ordination from multiple streams of expertise. Few key trends in biotechnology are expected to drive the evolution of the industry going forward.
- Personalization of treatment: As genome studies and molecular testing approaches help understand disease pathology more accurately, industry and academia can be expected to develop of novel therapies that are safer and more effective. Although, we are far away from truly personalized treatment, industry is rapidly moving forward.
- Increasing use of next generation computing technology: Massive amounts of data are generated through genomic studies and research and it is making drug development decisions increasingly complex. We are seeing increasing use of advanced computing technology such as machine learning and artificial intelligence in data analysis to develop new insights to help advance drug development and patient care.
- Increasing adoption of novel therapies: Industry is only beginning to see the potential of gene therapies and cell therapies in niche indications. Currently, there are several challenges to development of effective gene and cell therapies. Given the pace of research activity in this area one can expect safer and more effective therapies to emerge in the near future and wider adoption.
How can EPPIC help?
- Networking within biotechnology and healthcare industry: EPPIC is a platform to engage with industry participants, build your network and keep oneself abreast of latest advances and challenges in the industry. EPPICs members include leaders from academia, biotechnology industry and healthcare. Our members include people with extensive experience in novel drug discovery, clinical development and regulatory affairs. If you are a biotech professional EPPIC platform could help broaden your network and exchange thoughts.
- Provide an ecosystem to nurture your start-up: If you are a biotech entrepreneur, EPPIC platform could help you find risk capital, mentorship and development partners. Our members include angel investors and healthcare venture capitalists who have decades of experience in building life science companies.
- Exposure to the possibilities of technology: As a Silicon Valley based healthcare networking group, EPPIC is in a vantage position to observe the latest innovations in biotechnology and bring it to its members. Our events showcase some of the cutting-edge technology and KOLs in biotechnology.