Pharmaceutical manufacturers find themselves at a critical juncture. In the past 30 years, pharma has seen some significant shifts. Consider the expanding range of drug therapies, once confined almost exclusively to small molecule drugs. Biologics now comprise a substantial share of the market, and novel treatments such as cell and gene therapies are rapidly gaining traction. Another major trend is the rise of outsourced manufacturing, primarily for small molecule drugs.
Section: Biopharma Insights View all sections
The digital transformation of biopharmaceutical manufacturing is continuing at a rapid pace as companies attempt to mine the sources of data available. Innovations include predictive analytics, big data analytics, and creating the digital plant. Digital transformation offers a mechanism to revise its business model, to improve production processes, to design new drugs faster by using artificial intelligence to screen compounds and to increase responsiveness to customers. Furthermore, the volume of data processed by pharmaceutical firms shows no sign of slowing down. This means pharmaceutical companies must act quickly in terms of building core internal digital capabilities and moving beyond their traditional IT functions to all areas of the business.