The life sciences industry is the umbrella term for companies, businesses, and research institutions dedicated to improving protection and improvement of human, animal, and natural life. It includes cell biology, biophysics, environmental sciences, biomedicine, pharmaceuticals, biotechnology, nutraceuticals, neuroscience, and countless others. As you might imagine, this is a frontier that moves rapidly, constantly driven by change and technological advancements.
Looking ahead to 2021 indicates that the following trends will play a key role in shaping the life sciences industry:
Personalized medicine through advancements in genetics
As researchers continue to discover the genetic coding component of some conditions, the possibilities for personalizing medicine and healthcare procedures based on each person’s particular DNA information or other genome features become greater and more exciting.
Collaborative Innovation of Various Life Sciences Companies
In May of 2019, Arzeda, Twist Bioscience, Labcyte, and TeselaGen joined forces to create a state-of-the-art assembly platform for the DNA molecule. This is just one example of how highly collaborative the life sciences industry is, and what the possibilities are when health science organizations work together to push the boundaries of research and development.
Advancement of Drug Research
Smart technology will allow for better integration of data from assessment devices such as patient monitors, laboratory equipment, and MRI scans to more accurately prescribe medication for patients for more objective, evidence-based results.
Increased Volume of Life Sciences Research
In the field of precision surgery, studies connecting robotics to improve surgical methods are on the rise. Artificial intelligence can provide doctors insight in the most accurate treatment plans and which procedures will result in the best outcomes.
Increased Digitized Assessment, Diagnosis, and Treatment of Patients
Digital transformation has paved a way for better consumer access and improved marketing strategies for companies. The life sciences industry is expected to see an increase of digitalization through online assessment, diagnosis, and treatment of patients in 2021.
Value-based Pricing of Products
As more laws are being passed to drive down the prices of products especially in the pharmaceutical and nutraceutical industries, more companies will continue to work hard to demonstrate a drug’s effectiveness so that consumers can see the true value of the product. This can help drive down the cost of medications while providing evidence-based information for people to whom the drug’s efficacy matters most.
Data Management and Integration
Continued innovation of and improvements to cloud management strategies will enable data analysts to more easily gather, organize, and interpret information that is pertinent for life sciences research and system operations.
Incorporation of Genetics in Treatment
Expect more integration of genetic information into the assessment and treatment of disorders. In time, gene technology will make it possible for researchers to identify genome sequences that can predict disorders in humans and animals.
Heightened Focus on Immune Cell Function
A better understanding of immunity will inform how diseases and viruses are spread—especially important in light of the recent pandemic. Researchers are interested in certain attributes of cells demonstrated to be immune to certain types of viruses and bacteria. These studies will bring about profound implications in the field of immunotherapy.
Trends that are expected to affect the life sciences industry in 2021 are exciting and ever changing. Countries including the United States have increased funding in the research areas of science, technology, and healthcare, demonstrating the world’s commitment to innovations within the life sciences industry. Continued innovation and advancement will improve the welfare of those of us who are living today, as well as those for generations to come.
