Interested in following the leading trends from experts in the industry? In this guide, you will find some of the market’s top trends and falls that will help you gain further insight into the next trends to come.
Here are the top 5 trends in the pharmaceutical industry 2017.
Dependency on Medtech
Today, more pharmaceutical companies are looking to work alone and go beyond of drug. With technology that helps track patient compliance and monitoring, this helps to give companies a competitive edge without the need for partnerships. In fact, there are more non-traditional deals now than ever as mobile and telecom companies are helping to make pharmaceutical companies move past the basic pill and more into comprehensive medical products that can help diagnose, monitor and more potential applications.
Drug prices continue to rise
As 2016 was all about the conspiracy of drug prices, 2017 will only continue the trend even further. There is a clear message that the annual or quarterly drug price will increase to fuel sales growth even more. With President Trump’s plan to stiffen the challenges, the need of volume growth will continue to increase. This means that pharmaceutical manufacturers must increase their volume of growth to continue sustainable revenue.
Treatment for Alzheimer’s
As the baby boomer generation continues to grow older, the Alzheimer’s disease is assumed to account for as much as 25% of Medicare by 2040. With the increase in spending, more pharmaceutical companies are on the run for an optimal treatment and prevention to the disease. In fact, billions of dollars have already been invested in targeting antibody medication.
According to Forbes, pharma companies and biotech are developing drugs based on the research of bacterial composition in the gut and how it affects the mood. This will not only open up new methods of treating depression and other related mental illnesses but also brain disorders.
Currently, biosimilar drugs are presenting an affordable option to the consumer and a potential hit for manufacturing companies. These biological products are also continuing to increase in demand as the drug was approved in the U.S. in 2015.
Today, there is over 700 biosimilar approved to be used by 2020.
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