There is no denying the fact that the Life Science industry is in high demand as we all look for improvements in our lives, wanting answers and solutions that can revolutionize our health. With that demand comes a world that is constantly changing and improving, but how can we work out where our focus needs to be and what is better left for the future? We took a look at some of the biggest trends in Life Science right now in a bid to work out where we are headed.
The Trends Taking Us into 2022
Knowing where the Life Science industry will be most in demand is an important part of recognizing what the next year will look like. Here are the trends to look out for:
Advancing Humanity Through Personalized Medicine
As our understanding of genetics continues to improve with pace, there is an expectation that medicine and health care services will now customize treatment plans. From using genome features and DNA information, the potential for personalized treatment plans is on the horizon and promises to offer better outcomes for patients worldwide.
Improving Global Collaboration
If COVID-19 has taught us anything, it has shown us that the results can be life-changing when Life Science research teams collaborate. Now we can expect to see even more collaboration in 2022 in a bid to break down some of the biggest challenges life science companies face. Global teams and US-based Life Science companies have already enjoyed the success that comes with collaboration, and the potential for higher success rates is an incentive that cannot be ignored.
Increasing Research Capacity
When you combine the number of digital tools available with some of the brightest minds in Life Science, the possibilities are incredibly exciting. As such, we expect to see a growing amount of research taking place from 2022, with more data and outcomes than ever before. When you combine this with an increase of over 10% in funding for the National Institutes of Health in 2022, as well as the additional funding during the pandemic, the potential is exciting. However, it will also be interesting to see if the speed in which new drug approvals remains as fast as it did for the novel COVID vaccine, or if the country will return to waiting years for select drugs to be passed by the FDA under a guise of quality and safety over productivity when there is a middle ground that needs to be found.
Continued Focus on ESG
Environmental, social, and governance needs continue to be a very important part of the Life Science world, with more research being offered on how to improve the global outlook while improving climate change and other political demands. We expect to see even more action on improving access to medicines, finding environmentally friendly practices, and adhering to global ethics when it comes to creating new solutions.
Improving Supply Chains and Virtual Working
As more Life Science companies develop a reliance on partnerships in other countries, we can expect to see a continued improvement of supply chain visibility and effectiveness so that projects are not delayed, and improvements are not stifled. In addition, companies are also developing their ability to conduct virtual trials with remote monitoring so that they can circumvent delays that may have caused them problems in the past and allow them to access trial candidates via telemedicine and mobile health care that may not have been able to take part previously.
The Only Way is Up!
It’s clear that the Life Science industry is experiencing a huge and growing demand, making it an industry enjoying more attention than ever before. However, to be able to come up with solutions for the trends listed above, it is important that funding and educational opportunities are also offered so that the best people can help lead the way into an exciting future.