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Modern biotechnology is primarily concerned with medicine.
FREMONT, CA: Biotechnology contributes novel solutions to one of humanity's most vital sectors-health. Despite being a highly regulated industry, its ability to satisfy providers, researchers, patients, shareholders, payers, and regulatory bodies makes it a hot topic in the news. The biotechnology industry has experienced unprecedented growth in recent years, and the outlook for the coming year is positive. Thousands of compounds are currently in clinical trials, and hundreds of new products are awaiting approval.
Below are a few trends in biotechnology that the world anticipates in 2021 including the following:
Collaboration and Collaborations with Biotech Startups to Advance Innovation
Over the last decade, research in the life sciences has expanded and evolved continuously. Due to the collaborative nature of the industry, many discoveries are based on prior and current knowledge. As with Pfizer's collaboration with BioNTech to develop an mRNA vaccine against COVID19, biotechnology companies are expected to collaborate and join forces to advance drug development in 2021. Perhaps a league of biotech companies banding together to promote the life science industry as a whole. Twist Bioscience, TeselaGen, Arzeda, and Labcyte, for example, collaborated in 2019 to establish a world-class DNA Assembly platform. The collaboration's primary objective was to meet the four companies' DNA supply needs. As the world embraces the convenience of healthcare solutions enabled by technology, the pharmaceutical industry faces the challenge of ensuring that its workforce is equally skilled at meeting this demand and can keep up with the rate of customer adoption. Pharma companies must up skill and train their employees on how to work efficiently with customers at multiple touchpoints.
Drug discovery with a shorter time-to-market
Artificial Intelligence, Algorithms, Machine Learning, Big Data, and early-stage experiments utilizing novel technologies significantly reduce the time and cost associated with bringing new drug formulations to market. The entire research and development cycle, including data management, clinical trials, and testing, is now so technologically driven that pharmaceutical companies are increasingly involving 'health-tech partners and technology brands in the process of drug discovery, which was previously a pure science domain. As technology advances, the industry seeks guidance from the FDA on using artificial intelligence in medical devices.
Automation and Digitization
The pharmaceutical industry's bio manufacturing and manufacturing subsector were among the first to embrace automation and digitalization. It was not just about eliminating paper but also enabling robust and scalable quality processes with less room for human error. Industrialization has resulted in human intervention, associated with a high risk of contamination and variability from a quality standpoint. Additionally, AI and robotic technology have been instrumental in reducing manufacturing downtime and product waste. Researchers and developers combine their expertise to create and share phase-appropriate process development (PD) and bioassay services (BAS), eliminating manufacturing issues, lowering their cost of goods, and ensuring adequate preparation for commercialization in advance.