Avid Bioservices Inc (CDMO)

[Amrsto1000]

Availability of Real-world data for drug development

Another important issue for 2021 will be the ability of pharmaceutical companies to make use of real-world data for which patient data is collected outside of randomized controlled trials. This approach is important for drug development because it evaluates if outcome-based reimbursement models for drugs can be successful?

Personalized Medicine and Value-Based Healthcare

Personalized medicine has the potential to revolutionize the healthcare and CDMO industry. The introduction of diagnostic and informatics approaches has enabled scientists to understand the molecular basis of disease, particularly genome. The detailed account of an individual’s genetic make-up can help research-oriented healthcare companies to include or exclude a specific individual on a timely basis.

Ultimately, it will lead to faster and smaller medical trials leading to lower costs of research. In fact, pharmaceutical companies are in better shape to develop medicines for individual patients that are based on the genome of the patient.

There is no doubt that the concept of personalized and precision medicine is a new research endeavor that can offer products tailored to individual patients. It provides an opportunity for companies to increase the quality of care rather than focusing on quantity.

These advances and trends will be contributing to the growth of the global CDMO industry. Keeping in view the mentioned trends, 2021 can prove to be an important year for the healthcare industry.