By Petter Moree
The life sciences industry is booming, valued at 1.3 trillion dollars, with approximately 300 global companies delivering over 20,000 different lifesaving treatments, personalized medicines, gene therapies, and cures to patients annually. It may take just a moment for a patient to pop a pill or receive an injection, but these treatments typically require decades of research and billions of dollars to develop and bring to market. Drugs are often prepared for consumption by contract development manufacturing organizations (CDMOs) under stringent Food and Drug Administration (FDA) regulations.
While the drug development cycle is lengthy, the COVID-19 vaccine is a recent and notable exception. Requiring just over one year to develop and bring to market, its distribution was, and continues to be, a remarkable feat. We are striving to normalize this timeline and enable life sciences companies to shorten development and distribution cycles so patients around the world can access cures whenever there’s a need.
Explore three areas where investments in the life sciences industry are improving outcomes and shortening development cycles.