04/02/2024
In biopharma, over the past few years, revenues from new-modality products increased by $60 billion. While revenues from conventional products declined by $10 billion.*
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This is another important data point for biomedical innovators about the pace of technological advancement and market fragmentation.
The rate of technological change is now in a constant state of acceleration placing sustained pressure on product lifecycles.
There is enormous pressure to prioritize innovation and speed to market to capture development costs and profits.
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This requires the capacity to continuously deliver new products in less time.
This has to come from both internal core competencies and external resources.
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*Boston Consulting Group "Industry Report on New Drug Modalities"