Lots of new things happened in the pharmaceutical industry in 2017. At IgeaHub.com, our mission is to make the pharmaceutical world simple and clear to everyone. We want our readers to have a privileged view on the key player in the healthcare system, and we do our best to keep things simple but accurate.
Here is a selection of the best pharma perspectives published on IgeaHub in 2017
We have covered the top companies in pharmaceutical and biotech industries:
The global pharmaceutical market was estimated in USD 1.1 trillion in 2016. The global market is highly mature and consolidated. The top-10 pharmaceutical companies in this market had share of around 40% in 2016 and approximately 50% considering the top-15. A comparative analysis of the top-15 organizations was used to develop a ranking for these companies.
Prominent pharmaceutical companies are renowned for their commitment toward innovation, and they spend heavily on R&D. A list of top 20 pharmaceutical companies in the world is given here that invest the largest sums in R&D in the fiscal year 2015-16.
Reputation is extremely important for Pharmaceutical Companies. Like every year, Fortune collaborated with Korn Ferry Hay Group on the survey of corporate reputations. To determine the best-regarded companies in 51 industries, Korn Ferry Hay Group evaluated 680 companies in 28 countries. Executives, directors, and analysts have been asked to rate enterprises in their own industry. The list of Pharmaceutical Companies that made it to the top is here.
Innovation is the key for the success of the Biotech industry. Hence, the innovation strategy of a biotech company must evolve constantly if it wants to remain competitive in the local and international market. Necessity is the mother of innovation, and so the successful biotech companies are always focused on their innovation initiatives in order to bring new products in the market for the benefit of people. For this reason, the scientists and entrepreneurs working in this industry are imaginative, revolutionary, inventive, and ingenious, as well as industrious.
The market for oncology medication is booming, aiding the overall pharmaceutical industry growth. The oncology drug market is estimated to be almost USD 94 billion. Most of the top pharmaceutical players are either currently manufacturing oncology drugs or have oncology medications in their R&D pipelines.
Rheumatic diseases are chronic diseases involving the inflammation and severe pain in joints, tendons, ligaments, bones, and muscles. Examples of rheumatic diseases include Osteoarthritis, Rheumatoid arthritis, Fibromyalgia, Gout, Psoriatic arthritis, Scleroderma, etc. Complications induced by rheumatic diseases can lead to lower articular function and higher mortality. In addition, these can affect the ability of the patients to work properly, and also affect their social relationships. Hence, medical researchers have devoted their time and efforts to develop effective drugs for the treatment of these diseases.
Diabetes Mellitus is a physical condition associated with high blood sugar. It can have long-term detrimental effects on the blood vessels, heart, kidneys, eyes, and nerves. In 2015, diabetes was the 7thleading cause of death in America.
Vaccines are one of the most cost effective and powerful health interventions available. Billions of people from around the world are successfully being protected from various diseases through these vaccines. In particular, vaccines have helped saving the lives of around three million children each year, and have significantly reduces diseases, disability, and death globally.
Common types of viral diseases include cold, influenza, chickenpox, HIV/AIDS, viral hepatitis, HPV, viral meningitis, herpes, etc. These diseases are often contagious. When a virus enters the body and starts to multiply, they can spread from one person to another. Some of these viral diseases can be life-threatening, causing complications like pneumonia and diarrhea.
The list of the best pharmaceutical companies has evolved significantly over the last 20 years. In this analysis revenues were taken into consideration to rank the top 10 pharmaceutical companies in respective year. The animation will provide you with an overview of the history of the pharmaceutical industry over the past two decades.
At IgeaHub.com, we have covered some important viewpoints regarding the pharmaceutical products in 2017, like the following:
The global prescription drug market is expected to grow by 6% from 2016 to 2022 to reach nearly USD 1.05 trillion by 2022. The top 20 drugs are manufactured by 14 companies and account for a total 10% of global prescription drug market in 2016. The total revenue generated by top 20 products was estimated to be USD 0.128 trillion. A large number of the drugs in the list are primarily for the treatment and management of cancer, diabetes, inflammatory disorders, and HIV or HCV infections.
The global oncology market is expected to grow at a rate of 7.5% with top-ten companies accounting for more than one-third of the market share. Roche tops the list with three drugs in the high rankings accounting for nearly 45% of the revenues. Celgene’s Revlimid is the best selling drug also showing a 20% growth rate from 2015. Interestingly, the top 10 oncology drugs revenue in 2016 is a 13% increase from 2015’s top 10 list revealing numerous market opportunities.
Rheumatology drug market is a highly consolidated market with the top ten players accounting for nearly 90% of the market share. The market is also highly competitive with new researches and drug discovery programs by various pharma giants. Abbvie’s Humira tops the list with great margin accounting for more than 30% of the top ten list. In terms of market presence, J&J steals the show with three drugs in top ten anti-rheumatic drugs, accounting for the larger share (25%) in the top ranking list.
In 2016, global diabetes drugs market was valued at USD 30.95 billions and is estimated to grow by 7.5% to reach USD 44.53 billions by 2021. The top 10 global companies manufacturing diabetes drugs collectively hold a market share of 93.2%. They are Novo Nordisk (29.7%), Sanofi (18.4%), Merck & Co. (14.1%), Eli Lilly (11.8%), AstraZeneca (5.7%), Boehringer Ingelheim (3.9%), Johnson & Johnson (3.2%), Novartis (2.9%), Takeda (2.2%) and Bayer (1.3%).
Major pharmaceutical companies have invested immense resources into developing innovative treatments for cancer. Since 1997 the list of the best selling oncology drugs has evolved significantly. The high pace in drug development is set to continue and in 2017 the whole oncology pipeline has over 600 molecules in late development stage.
Some exciting articles on career development for pharma professionals have been published at igeahub.com, like the following:
What is the fair salary for a Sales Rep in US? And for a Brand Manager in Europe? What about a CRA in India? There are a wide range of jobs in the pharmaceutical industry and their pay varies greatly. Many different factors have a significant impact on the compensation of pharmaceutical professionals including age, years of experience, and geography.
The Medical Science Liaison (MSL) role has become one of the most important customer focused roles within the pharmaceutical/biotech industry and this has led to a massive increase in the MSL work force globally. As a consequence, the supply of aspirant MSLs has increased as well, and companies are rising the MSL entry bar and many are now demanding a terminal degree as a minimum. The biggest challenge for many aspirant MSLs and even people in the pharmaceutical/biotech industry is to fully comprehend what an MSL does on a day to day basis.
The Medical Science Liaison (MSL) role is often associated with PhDs, postdocs and in some counties with an MD degree. But we know from our 2017 global MSL salary survey that quite a few MSLs globally have a pharmacist background. For instance, in the US and Portugal, 27% and 22% of the MSLs had a PharmD degree, respectively. And in Australia we know there is quite a high percentage of BPharm and/or MPharm trained MSLs. Becoming an MSL as a pharmacist is not always mentioned as a career path. So, what can make a pharmacist a good MSL candidate?
Many MSLs are working on pipeline molecules and are therefore involved in clinical studies liaising with key opinion leaders (KOLs). Oftentimes these clinical studies are the company sponsored trials. However, MSLs are also the first point of contact to start discussing KOLs’ own clinical research study ideas using the company’s (pipeline) molecules. These KOLs’ investigator initiated studies are known by different acronyms in pharma/biotech: investigator initiated studies (IIS), investigator sponsored studies (ISS), investigator sponsored trials (IST) or externally sponsored research (ESR) to just name a few. We will call them IIS to clearly indicate they are investigator initiated, as an MSL is not allowed to proactively initiate an IIS discussion, as it is off-label.
Pharma companies want to make sure that what they are developing is actually seen as being a valuable addition to the doctors, their patients and their disease. Companies therefore ask advice from local key opinion leaders (KOLs) during an advisory board (ad board) meeting. As a Medical Science Liaison (MSL) you can (and should) be involved in this process.
Few other important viewpoints regarding the pharmaceutical industry that have been covered at igeahub.com in 2017 include the following:
The International Federation of Health Plans, the leading global network of the health insurance industry, developed a report on the comparison of health care costs across different countries. The 2015’s survey includes pricing for several specialty prescription drugs, common diagnostic evaluations, and a selection of typical medical procedures.
Innovations in the pharmaceutical and biotech industry are bringing amazing changes in the lives of the common people. Debilitating diseases, like hepatitis C, cancer, HIV, etc. are no longer considered as incurable, as new medicines are entering the market that are being proved as effective for fighting these diseases and increasing the longevity of the patients. Over 7,000 medicines are also under development around the world, mainly targeting diseases like neurological and immunological disorders, cancers, cancers, diabetes, cardiovascular diseases, HIV/AIDS, mental health disorders, etc.
Cost of drugs has been matter of debate in recent years. It is often said that R&D costs to develop new medications are extremely high and this is one of the common arguments used to justify increasing drug prices. According to the estimate by the Tufts Center for the Study of Drug Development, it takes $2.7 billion for a company to bring a single drug to the U.S. market, which is much higher than the previous estimates. The perception of unjustified high costs, especially of anti-cancer drugs has a significant negative impact on research, manufacturers, insurances, and health authorities. Furthermore, groups of patients, regulatory bodies, and policymakers have started raising their voices opposing these high prices.
The global contract research market is growing at a strong rate owing to increasing patent expiration and declining R&D productivity. Furthermore, increasing costs of new product development and revenue loss due to generics have resulted in high demand for contract researching of new biologics and compounds. The global CRO market is highly consolidated with the combined market share of the top-10 companies in this market estimated to be around 80% in 2016. This consolidation can be attributed to the highly stringent nature of the market with requirements of high capital investment. The leaders in this market include a mix of public-listed and privately held organizations.
Healthcare consulting industry is evolving globally owing to the never ending regulations and needs of hospitals and smaller service providers. Government, medical device and insurance companies, also seek aid from consultants for strategic direction, compliance, technology adoption along with human resources issues.
This year Bloomberg published the ranking of the 50 healthiest countries in the world and results are quite surprising.
Cancer is one of the leading causes of morbidity and mortality worldwide, but therapeutic innovation has changed the treatment paradigm drastically. Cancer medication demand is increasing due to high unmet medical need and incidence rate. This reflects in growing revenues for pharmaceutical companies operating in this space and increasing investments in oncology R&D. The key factors driving the growth of this pharmaceutical segment are the large number of new compounds with new mechanisms of action and the high cost of these medications.
Many new medications and treatments have emerged this year for improving the management and prognoses of patients suffering from serious diseases. Driven growing therapy areas such as oncology, anti-rheumatics, and anti-virals, the prescription drug sales are increasing significantly.
Poly (ADP-ribose) polymerase (PARP) inhibitors are targeted therapies that are used for multiple indications, most commonly, cancer. PARP aids in cellular growth, regulation and repair of cells.The PARP inhibitor stops the cancer cells being repaired which causes the cells to die thus reducing the tumor growth. Numerous cancer forms are more dependent on PARP than regular cells, making it an attractive target for cancer therapy. Currently they are used to treat ovarian cancer, fallopian tube cancer and peritoneal cancer. These inhibitors are considered as a potential treatment for acute life-threatening diseases, such as stroke and myocardial infarction, along with neurodegenerative diseases. Currently this class of drug is becoming popular which can be deduced from the increased research as seen in the below clinical trial data from past few years.
Forecasting in the pharmaceutical industry may be viewed as a means of predicting the future, a tool that aids in decision making, a measurement for the uncertainties that lie ahead or a help in planning the next course of action. No matter the angle, all the perspectives intersect at one point, which is the process of painting an accurate picture of the future, and that’s where many experts may get it wrong.
“CRISPR” is an acronym of Clustered Regularly Interspaced Short Palindromic Repeats.
CRISPR technology is based on a bacterial defense mechanism, composed of two molecules structure that easily alters DNA sequences, modifies gene function to correct genetic defects causing existing diseases, and also help prevent future diseases. CRISPR therapy has dominated the global genome editing market in 2016 and predicted to achieve highest CAGR growth throughout 2021.
In 2018, we will come up with more exciting pharma perspectives. We expect you to be with us.Pharma 2017: One Year in Reviewlast edit: 2017-12-21T11:20:48+00:00da