Pharma trends 2024 mckinsey 2022. Based on ~15,000 publicly traded companies.
Pharma trends 2024 mckinsey 2022 May 20, 2024 · Strategies to streamline drug development with AI, widen accessibility with biosimilars and utilize more representative real-world data are examples of key trends to watch out for in 2024, showcasing the constantly evolving pharma landscape. In March 2022, under the Strengthening of Pharmaceutical Industry (SPI) Scheme, a total financial outlay of Rs. 4. Jun 10, 2024 · McKinsey experts discuss the latest trends and the most pressing challenges for leaders in the retail and consumer-goods industries. This year, we’ve curated 12 compelling data visualizations that capture insights on the transformative power of digital and AI, resilience in the face of uncertainty, the evolving landscape of talent trends, the intersection of equity and health, and more. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive Sep 27, 2023 · Downstream margin management. As we reported in 2021, the industry was poised to grow by as much as 14 percent annually through 2026. The ten-year government bond yield in the United States peaked at approximately 5 percent in October 2023, up about 425 basis points since the low reached in April 2020. Capsule Pharmacy. Feb 13, 2024 · Four CVD trends will emerge or accelerate in 2024: better use of digital health and AI for preventive and primary care; continued use of precision medicine to deliver customized treatments; identification of new molecular drug targets, such as Lp(a) levels for CVD, to detect disease earlier; and drug repurposing, as exemplified by early trials From 2018 through November 2024, the PwC pharma index returned 7. 8 “Taking the pulse of shifting supply chains,” McKinsey, August 26, 2022. 2 McKinsey Global Private Markets Review: Private markets turn down the volume, McKinsey, March 21, 2023. of technology trends on particular industries, about the efforts of companies to tap into technology trends, and about the ways that business leaders can manage the implications of technology trends for their strategies, operations, and talent. Jan 9, 2025 · Pharma companies are experiencing a wave of innovations – from new treatment modalities, to smart machines, advanced analytics, and digital connectivity. Sep 16, 2022 · In the future, feedback loops from early research to launch will supply data on pharmacovigilance, clinical outcomes, and manufacturing deviations and performance; companies can use that feedback to improve process development. Oct 10, 2022 · In the past, many pharmaceutical companies (pharmacos) deprioritized operations strategy in the face of competing business pressures. 2 Fostering China pharmaceutical innovation system, Report 1: 2015-2020 Review and future outlook, China Pharmaceutical Innovation and Research Development Association (PhIRDA) and R&D-based Pharmaceutical Association Committee (RDPAC), March 2021. 3% and 6. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive Dec 5, 2024 · As a whole, the industry has been critical of the drug-pricing measures authorized under the Inflation Reduction Act. Dec 12, 2024 · Here are some of the McKinsey Global Institute’s favorite data visualizations from 2024. Nov 29, 2023 · In 2022, the industry again showed its resilience, almost equaling the record economic profit of 2021, the McKinsey Global Fashion Index shows. Overcoming those hurdles — and making sure that innovative medicines get into the hands of patients quickly and easily — should be pharma’s No. in 2023. 2 zettabytes in 2020. Cyclopam. 1 trillion—outpacing nominal global GDP by half a percentage point 1 Global 2023 GDP and premiums were calculated assuming fixed 2022 exchange rates (to convert GDP and premiums from local currencies to US dollars) for the purposes of measuring increases in Jan 30, 2024 · Sporting goods trends for 2024. 2Including China, Middle East, and North Africa. Dec 19, 2023 · In 2022, our articles on the gathering storm in healthcare focused on the uncertainty facing the payer sector. Pharmaceutical giant Moderna recently announced a partnership with OpenAI – famous for its chatbot, ChatGPT. 8 trillion global wellness market in 2024, the market for wellness is being driven by consumers taking more control of their health. Jan 5, 2024 · Medicare Advantage enrollment has grown historically by 9 percent annually from 2019 to 2022; however, we estimate the growth rate will reduce to 5 percent annually from 2022 to 2027, in line with the latest Centers for Medicare & Medicaid Services (CMS) enrollment data. This article provides ten observations from McKinsey’s work in this space, complemented by targeted analyses and a McKinsey survey conducted in November 2022 of one hundred digital and analytics (DnA) leaders in life sciences functional areas, such as R&D, manufacturing and supply Jul 16, 2024 · Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. The state of AI in 2022—and a half decade in review 7 Dec 9, 2022 · Here we’ve curated 22 of this year’s best data visualizations that have illuminated some of the key themes and trends covered in our publishing—inflation, geopolitical upheaval, evolving health priorities, inclusion, net zero, digital trust, and more. 5× greater 5-year total shareholder returns 5 of 10 largest global companies did not exist 25 years ago AI has massive potential across Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. 8 McKinsey modeling based on Star Ratings information from CMS and where RY 2024 Star Ratings are based on 2024 enrollment data. We invite you to join us in understanding how technology trends evolve and Read the rest of the article to learn about the key technology trends shaping 2024: McKinsey Technology Trends Outlook 2024 . In McKinsey’s annual year in review, we look back at our favorite articles, interviews, and highlights from our 2024 ‘Insights to Impact’ publishing journey. Jun 14, 2023 · Primary areas to target: Pharmaceutical leaders should determine their digital categories of interest (for example, remote patient monitoring, digital therapeutics). 5 Based on McKinsey analysis of data from Pharmaprojects, 2022 and Evaluate Pharma, August 2023. As the Year of the Dragon draws to a close, leading Chinese life sciences stakeholders remain undimmed in their commitment to the country and the myriad opportunities to bring breakthroughs to patients, both within China’s borders and beyond. Moderna seeks to apply AI technology across diverse operations – from legal departments all the way to R&D – using the 2 days ago · M&A volume in 2024 totalled 136 deals, which is a slight decrease (6%) compared with 2023’s total of 144, continuing a decreasing trend in volume seen since 2022. Feb 1, 2024 · Even at the depths of the COVID-19 pandemic, the future looked bright for the medical-aesthetics industry. 9% compared to 28. The adoption of digital twins—real-time, virtual versions of physical objects and processes—can enable biopharma companies to optimally balance short- and long-term demand with supply of raw materials, equipment capacity, and human assets (staffing), and allow companies to overhaul the scheduling of production and lab activities. The use of artificial intelligence (AI) is accelerating drug discovery and development processes. Looking forward in 2024, many of the dynamics from 2023 will persist while McKinsey, Dec 8, 2021 AI adoption has continually increased, enabled by its financial investment and development for easier access1 1For details about easing ML development and integration, see “Industrializing machine learning,” McKinsey Technology Trends Outlook 2022, McKinsey, August 2022. Over the last year, this dynamic became even more pronounced with the PwC pharma index returning 13. 6 “Amount of data created, consumed, and stored These are among the findings in the latest McKinsey Technology Trends Outlook, in which the McKinsey Technology Council identified the most significant technology trends unfolding today (to know more about the Council, see the sidebar “About the McKinsey Technology Council”). CPHI Trend Report: Global CDMO Trends - The 2024 Outsourcing Forecast 2 Contents 05 Summary 06 Contributors 07 References Key findings Treating pharmaceutical pain points: A fluctuating market As the pharmaceutical industry continues to cycle through booms and busts, outsourcing activities have similarly shifted in order to accommodate the demand 10 Key Trends in Pharmaceutical Industry (2024) 1. Dec 21, 2021 · To find out, we conducted a survey of senior executives in commercial roles at global pharma companies to understand the changes under way. Jan 31, 2023 · Looking toward the new year is a good time to take stock of the life sciences industry’s digital maturity. Feb 27, 2024 · There is already evidence of this in action: in April 2022, 81 percent of global supply chain leaders surveyed said they had initiated dual sourcing of raw materials, compared with 55 percent in 2020. 7 McKinsey analysis. 6% to shareholders, compared with more than 15% for the S&P 500. Innovative startups are leveraging AI to tackle industry challenges, streamlining manufacturing processes, and devising efficient marketing strategies for post-launch success. 1 The online survey was in the field from November 27 to December 6, 2024, and Sep 28, 2022 · Despite the impact of the COVID-19 pandemic and the vagaries of the country’s restrictive ‘dynamic zero COVID’ policy, the Chinese pharmaceutical industry is expected to continue its remarkable trajectory up to 2025 with annual growth of 9. 1 Olivier Leclerc, Nils Peters, Arnold Scaglione, and Joe Waring, “From extreme to mainstream: The future of aesthetics injectables,” McKinsey, December 20, 2021. Africa Pharmaceutical Market Size & Trends . 4 See “Self-learning: The dawn of a new biomedical R&D paradigm,” McKinsey, July 15, 2022. The pharmaceutical dealmaking landscape has shifted in recent years, partly in response to the surge in innovation and collaboration during the COVID-19 pandemic. Which innovations are actively shaping the future of the pharmaceutical industry in 2025? Our in-depth research, drawn from a study of 4600+ global startups and scaleups, uncovers some of the major pharma industry trends including clinical trials, biopharma, drug discovery, precision medicine, and more. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive Jan 25, 2024 · Pharma companies are embracing digital enablement to efficiently increase productivity and better meet patient needs. Looking to 2024, we offer five main considerations for payer executives. Understanding market dynamics (for instance, growth, technology innovation trends) and in which areas the organization possesses advantages or disadvantages can narrow the field. Dec 20, 2024 · In the latest McKinsey Global Survey on economic conditions, potential trade policy changes rival geopolitical instability—the most-cited disruption to the global economy throughout 2024—as elements that respondents expect will affect the global economy in 2025. The McKinsey Technology Trends Outlook 2024 highlights the rapid growth driven by frontier technologies like generative AI, robotics, and electrification. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive In March 2022, Themis Medicare Ltd. COVID-19 vaccines significantly impacted markets during 2021 and 2022, with output rising by 17. China’s position as one of the top global sources and recipients of biopharmaceutical innovation is inarguable. Dec 2, 2024 · This article delves into the dynamic AI trends transforming the pharma and biotech sectors in 2024 and beyond. The Africa pharmaceutical market size was estimated at USD 26. including Marriott’s first Moxy- and Tribute-branded hotels in India and entrants from Feb 15, 2024 · <p>The calendar page turned from 2023, and we all breathed a sigh of relief. Introduction. Discover how chatbots, video content, and interactivity are transforming marketing strategies. Digital enablement is a fundamental component of Pharma 4. These are among the findings in the latest McKinsey Technology Trends Outlook, in which the McKinsey Technology Council identified the most significant technology trends unfolding today (to know more about the Council, see the sidebar “About the McKinsey Technology Council”). Food & Drug Administration, current as of January 10, 2023. Report: Trends in Pharmaceutical Industry 2024 - 2025 Pharma Trends pdf. Next 3-5 Years. Women’s health movement Jul 16, 2024 · Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. 6 “CDER’s annual novel drug approvals: 2013 – 2022,” New Drug Therapy Approvals 2022, U. Mar 12, 2024 · A consumer shift from private vehicles to more sustainable options. This selection of articles presents strategies and insights to capitalize on these innovations and advance quality, efficiency, resilience, and workforce agility in pharma operations. Peaked in 2023. Mobility is first and foremost about consumer choices, and the McKinsey Mobility Consumer Pulse Survey shows that preferences are indeed shifting. AI in Pharma. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive The outlook for significant pharmaceutical trends for 2022 comes in the context of tightening Covid-19 restrictions across the globe. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive Jan 16, 2024 · The COVID-19 pandemic made at-home testing kits a household item. Jan 17, 2024 · And although they will continue to be a part of industry conversations, there are five major trends poised to occupy centerstage in 2024 and beyond: 1. This period includes a material pull-back in 2022, when deal volume fell 37 percent year over year. (Themis), announced the approval of its antiviral drug VIRALEX by the Drug Controller General of India (DCGI). 1%. This research is intended to help Web <2024> <GBAR 2024> Exhibit <4> of <17> Price-to-book ratio, 2003–231 Price-to-book ratio, by industry, 20231 1Average excluding outliers and rms with a negative price-to-book ratio. Here’s a look at pharmaceutical trends expected in 2022: The pharma industry is facing a multitude of industry-specific and global trends. Oct 21, 2022 · By 2024, more than 50 percent of user touches will be augmented by AI-driven speech, written word, or computer-vision algorithms, 5 “The top trends in tech,” June 15, 2021. 7 Top Pharma Trends Vaccines AlphaSense shows a 12% increase in aggregate documents mentioning “vaccines” over the last 12 months Source: “Notes from the AI frontier: Applications and value of deep learning,” McKinsey Global Institute, April 17, 2018; S&P Capital IQ (Oct 2020); McKinsey analysis $10T–$15T global impact potential 2. 5 percent, surpassing the growth in imports for the first time. ” Mike Gallup, CEO, Norstella. 1 trillion—a showing even weaker than the pandemic year of 2020. . 36 37. This research is intended to help Oct 11, 2022 · No-touch planning. Jan Ascher, Sean O’Connell, Shail Thaker, and Tim Züwerink 92. Peaked in 2022. Trulicity. In an increasingly competitive pharmaceutical landscape, the 2024 Customer Experience survey by DT Consulting, an Indegene company, highlights pivotal customer experience (CX) trends. Jan 12, 2024 · Interest rates have come off their fall 2022 peaks, but even if central banks start cutting rates in 2024, financing conditions will remain tight. Utilization rates also remain high, especially as the population ages. Jul 16, 2024 · Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. 0, the transformative industry shift that aims to make drug development more efficient, cost-effective, and patient-focused while maintaining rigorous quality and compliance standards. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive Dec 11, 2024 · The Week in Charts series showcases charts that help explain a rapidly changing world—as we strive for sustainable, inclusive growth. Mar 1, 2024 · An outline of pharmaceutical trends that reflect pharma's attempts to improve personal health outcomes that can tip the scale of happiness. Although the pharma industry has played a crucial role in preventing and treating Covid-19, it has also had to balance its freedom to research, invest and profit from investments with its responsibilities to health systems, regulators, budget-holders and patients. Higher costs—and the promise of generative AI As of Feb 2022, there are 8 FDA-approved therapies, with 25 in late-stage development and another 120 in Phase II trials, and growing work on more therapies mRNA therapy As of 2022, there are ~130 RNA assets in the pipeline, with a predicted 40% annual growth rate for ~1,800 RNA assets by 2030 Dec 5, 2024 · Overall, Star Ratings fell from an average of 4. 92 in RY 2025, per McKinsey modeling. Dec 19, 2023 · Global private equity deal volume in healthcare rose about 8 percent annually from 2017 to 2022. while global data creation is projected to grow to more than 180 zettabytes by 2025, up from 64. While personal lines P&C insurance premiums grew by 9. 1 Congressional Budget Office Baseline Projections, May 2023; Medicare May 31, 2024 · In our 2024 Global Life Sciences Sector Outlook report, we emphasize on these key trends such as increasing pricing pressures, geopolitical environment, changes in US regulations, and the acceleration of Generative AI (GenAI) adoption to expedite drug discovery, cost reduction and revenue uplift. 5 percent in 2022–23 to $1. 9 Daniel Zipser, “China brief: Consumers McKinsey, Dec 8, 2021 AI adoption has continually increased, enabled by its financial investment and development for easier access1 1For details about easing ML development and integration, see “Industrializing machine learning,” McKinsey Technology Trends Outlook 2022, McKinsey, August 2022. Pharma companies prune portfolio to maximize profitability. Sources: [1] Cowen Equity Research: AI in Drug Development: From Hype to the Clinic & Beyond (June 2023); [2] IQVIA Institute for Human Data Science: Global Trends in R&D 2024 (February 2024); [3] Jan 9, 2024 · Pharma also faces its own unique challenges, including the complex nature of biological systems, the difficulty of treating disease, and a stringent regulatory environment. The year 2024 will catalyze several pivotal industry transformations, from new AI advancements to shifts in the regulatory environment. Based on ~15,000 publicly traded companies. Here are three investment trends that have occurred over the past five years. Dec 8, 2021 · Launch Readiness 2024: A fresh look at key trends affecting pharma product launches; 3 Pharma Trends for 2024: All about market access; 2023 New Drug Approvals: Review of New FDA and EMA Marketing Authorisations; Market Access 2023: New Report on key challenges in HTA and reimbursement McKinsey commentary Michael Chui Partner, McKinsey Global Institute Those taking a longer view have made steady progress by transforming themselves into learning organizations that build their AI muscles over time. Oct 18, 2024 · Incumbent scale acquirers and banks are responding with their own ISV solutions, such as Clover from Fiserv and Talech from Elavon, a subsidiary of U. Together, they capture a lot of what our collective next normal looked and felt like in Jul 1, 2015 · Jan Ascher is a principal in McKinsey’s Zurich office, where Boris Bogdan is an associate principal; Julio Dreszer is a principal in the Miami office; and Gaobo Zhou is a principal in the Hong Kong office. S. Winning in Russia pharma: The next growth horizon Over the next ten years Russian pharma will more than double in size. We’ll explore technological breakthroughs, market growth, and the emerging opportunities that promise to redefine the future of healthcare and drug development. The pharmaceutical industry has innovated and adapted, and is expected to undergo a sea of change and development in 2022 and the years to follow; which is good news for those looking to start or expand in a pharmaceutical career. 6%, with sales increasing by 5. Feb 29, 2024 · After deal value peaked in 2021 and then plummeted in the wake of the pandemic, dealmaking in the life sciences sector revived in 2023. 3. 8%, respectively. Sep 11, 2024 · India, which also grew at a 10 percent rate year over year, was a bright spot in the region (with 4 percent volume growth and 6 percent price growth). 5%. In the first chapter of the report, we highlight an improving industry outlook, with about 90 percent of sporting goods leaders anticipating stability or improvements in sales and margins, according to the McKinsey and World Federation of the Sporting Goods Industry (WFSGI) Sporting Goods Industry Report Survey 2023. 28%. Dec 14, 2023 · Two out of three pharma companies (67%) plan to ramp up investment in IT, including AI, over the next 12 months, according to a survey from the cloud vendor Rackspace Technology and Dell/VMware conducted in October 2023. Feb 20, 2024 · For all of 2023, global M&A value fell 16 percent to $3. McKinsey, Dec 8, 2021 AI adoption has continually increased, enabled by its financial investment and development for easier access1 1For details about easing ML development and integration, see “Industrializing machine learning,” McKinsey Technology Trends Outlook 2022, McKinsey, August 2022. 7% for the S&P through November 2024. 1 The McKinsey Consumer Pulse Survey, conducted in December 2022, included 27,869 respondents from Brazil, China, France, Italy, Japan, Norway, South Africa, and the United States. , accessed February 2023. 500 crore (US$ 665. 4 percent. Mar 11, 2024 · In 2024, we can expect this trend to strengthen, buoyed by China’s continued push for agricultural scale, industrialization, and intensification. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive Jan 24, 2024 · According to McKinsey’s latest report, The trends defining the US$1. Emerging from disruption: The future of pharma operations strategy 3 Sep 23, 2024 · Using the AlphaSense platform, we dive into the pharma trends likely to stir up competition in 2024 and beyond, and that are expected to redefine medicine for both patients and providers. 12 in RY 2024 to 3. Staying informed is essential for companies navigating this Sep 6, 2024 · Insights on The State of Customer Experience in the Global Pharmaceutical Industry from DT Consulting. Nov 19, 2024 · Personal P&C: Opportunities amid challenges. But a few major trends point to an industry tailwind; one of them is the advancement of digital and analytics tools. Where value lies. McKinsey tech trends index. Source: McKinsey Panorama; McKinsey Value Intelligence metaverse talk heats up—but that may not be the only reason,” Crunchbase News, Jan 21, 2022; “Extended reality market size, share, trends, by type,” Emergen Research, Feb 2021; McKinsey analysis Overall trends Increasing functionality across industries Immersive-reality technologies component in 2022. 35 Although this act is primarily aimed at opening market access, widespread ramifications will impact pharma companies’ commercial strategies and may inhibit research and development. While most of the metaphorical storm has passed, its aftereffects should not be underestimated. 85 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 3. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive Feb 12, 2024 · Figure 1: Regulatory drug approvals in 2023 [Source: Alliance for Regenerative Medicine] 2) Leaner Business Models While the pharmaceutical industry is expected to operate on leaner budgets heading into 2024, big investments in emerging markets, biologics and speciality therapies will take over portfolios. While the average deal size increased 14 percent, owing to a handful of large deals, the number of companies changing hands fell 27 percent from a year earlier. Bismart has conducted a comprehensive analysis of the most relevant trends in the pharmaceutical industry for the years 2024-2025, considering the needs and new demands of our clients, as well as sector studies such as ‘Key Pharma Tech Trends to 2024: Big Data and The global pharmaceutical industry is facing a raft of new challenges. Factors such as the COVID-19 pandemic, inflation, geopolitics, new therapeutic modalities, and new ways of working make it vital for pharmacos to carefully reconsider their long-term choices in sourcing, manufacturing, and supply chain. Joint governance and collaboration among sales, R&D, and procurement can then propel top-line strategies, with flexible, adaptable product mixes and dynamic pricing adjustment to maximize revenue and margins. However, in 2023, the increase was just 0. As all things digital continue to accelerate, which technology trends matter most for companies and executives? To answer that question, we developed a unique methodology to identify the ten trends most relevant to competitive advantage and technology investments. About the interviewees: May 29, 2024 · International players are not sitting on the sidelines: seven hotel chains are launching new brands in India in 2024, 14 Peden Doma Bhutia, “Indian Hotels expansion plans: 2 new brands launching, 2 hotels opening every month,” Skift, February 2, 2024. including Marriott’s first Moxy- and Tribute-branded hotels in India and entrants from 4 McKinsey analysis of BioCentury Inc. in the 15 technology trends we analyzed. Jan 8, 2024 · Future of pharma and life sciences in 2024: top 11 trends. The Pharmaceutical Research and Manufacturers of America (PhRMA), which represents innovator drug companies in the US, has raised concerns over a lack of transparency and accountability in the drug-negotiation process and the overall dampening effect of drug-pricing measures on Jul 16, 2024 · Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. The authors wish to thank Richard Sear, a specialist in McKinsey's London office, for his contribution to this article. 5 million) for the period FY 2021-22 to FY 2025-26 were announced. As reflected in our regional survey data, India was home to the highest number of consumers who indicated a willingness to spend more on beauty products in 2023 and 2024. Read on for five key trends to watch out for in the world’s second largest market. May 29, 2024 · International players are not sitting on the sidelines: seven hotel chains are launching new brands in India in 2024, 14 Peden Doma Bhutia, “Indian Hotels expansion plans: 2 new brands launching, 2 hotels opening every month,” Skift, February 2, 2024. 4% from 2024 to 2030. 1 priority in 2023. Apr 18, 2024 · Embark on an omnichannel marketing odyssey by exploring the top trends reshaping the industry in 2024. China’s status as the world’s fifth-largest agricultural exporter saw a notable leap in 2022, with export values increasing by 16. Topics covered include strategy, technology, marketing, operations, and organization. May 20, 2024 · Over 500 trials relating to AI/ML were conducted in 2022, and these numbers are expected to grow year on year. Dec 12, 2023 · According to McKinsey analysis of data from Evaluate Pharma, cell therapies brought in more than $3 billion in sales in 2022, supported by indication expansion of chimeric antigen receptor (CAR) T-cell therapies within hematological malignancies (that is, approval in multiple myeloma and second-line large B-cell lymphoma). Acquiring precommercial biotech assets to fuel growth renewed deal success for pharmaceutical companies, and proactively shaping the business portfolio to improve profitability provided the key for medical technology companies. Companies seeking to capture a share of this growth must prepare to face the challenges of increasing pharma regulation and intensifying competition. 80. These are among the ˛ndings in the latest McKinsey Technology Trends Outlook, in which the McKinsey Technology Council identi˛ed the most signi˛cant technology trends unfolding today (to know more abo ut the Council, see the sidebar “About the McKinsey Technology Council”). Jan 3, 2023 · And unfortunately, pharma companies have become conditioned to believe that the path to market has to be long and arduous. Ongoing Pharma Supply Chain Management Challenges. (18 pages) In 2024, MGI delved into the defining components of the new era sweeping our world. 3 John Stewart, “How global payments looks to ISVs, payfacs, and M&A to spur growth,” Digital Transactions, August 7, 2024; “Global payments to acquire ISV ACTIVE Network Jan 9, 2025 · Investment trends in pharmaceutical dealmaking. End-to-end margin management, not cost control, is where procurement can show the greatest impact. Backlogs in global supply chains are leading to more competition for the raw materials pharma Jul 16, 2024 · Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. We first asked survey participants to assess the extent to which certain trends might take hold in the medium to long term—that is, within five to ten years. Percent of all trials R&D experts estimate were conducted as decentralized clinical trials) 2023. May 29, 2024 · A McKinsey ConsumerWise survey on consumer sentiment, conducted in February 2024, suggests that Chinese travelers are also exhibiting high interest in international travel, with 36 percent of survey respondents indicating that they intend to spend more on international travel in the next three months. Driven by Asia Pacific, output for 2024 will grow by 4. Drotin. This is now changing. Echoing the pattern of the previous year, the luxury sector outperformed, with a 36 percent rise in economic profit that offset weakness in other segments. Recommended New webinar in 2025: Trends for life sciences quality leaders in 2025 – mastering what matters! Here are the current pharma trends of 2024 & 2025, Peaked in 2022. Nonetheless, gen AI could give the pharma industry a once-in-a-century chance to address those long-standing obstacles and create new breakthroughs in science and patient care. Last year was full of challenge for the pharmaceutical industry as post-pandemic hangovers impacted the industry on top of high inflation, major policy changes with the Inflation Reduction Act, and a continued challenging launch environment. The top trends in tech. Bank. 2023 saw a few pharma companies spin off their generics businesses into separate companies to focus on their innovative products pipeline. Hear about the immediate and longer-term moves that matter most for business success. Here’s Avenga’s take on the most crucial pharma and life sciences trends to watch out for in the foreseeable future: 1. As the pandemic has moved into its endemic phase, consumers are expressing greater interest in other kinds of at-home kits: 26 percent of US consumers are interested in testing for vitamin and mineral deficiencies at home, 24 percent for cold and flu symptoms, and 23 percent for cholesterol levels. lxzbadrkssupibbpinxfzuszhdmacdcugiotpwiiwmhxkfghgaemxfmkelir