Let’s just say what we’re all thinking: 2020 was rough. It threw every element of our lives into disarray. We suddenly had to become experts at navigating a new way of working, schooling and socialising. It was disruptive and it was challenging, but it was also transformative. And while the past 12 months might have felt like 12 years, it’s time to look forward to what the future holds. If 2020 was the year of disruption, 2021 will be the year of mastering change. For contract manufacturers (CMOs) and contract development and manufacturing organisations (CDMOs), mastering change means meeting demand at a rate even faster than before, and digitisation is essential to success.
Large pharmaceutical companies developing vaccines for COVID-19 have and will continue to rely heavily on CMOs to manufacture the billions of doses needed for people throughout world. This expectation is in addition to the sizeable role of CMOs prior to the pandemic. Advancements in personalised medicine and the ability for CMOs to navigate complex supply chains are factors that contribute to a surge in business every single year. In other words, an industry that was already travelling 90 mph just hit the accelerator.
In the full article with source references linked below, SeerPharma's business partner MasterControl explores the following key topics:
Demand is Not Braking for the Pandemic
Prior to the outbreak of COVID-19, CMOs were experiencing a substantial increase in demand. Before the pandemic reshaped the global economy, Accenture reported 91% of manufacturers planned to expand use of CMOs over the next three years.1 Reports show that biopharmaceutical sales grow by 12% each year and double every five years, an ongoing trend that has been recorded since 2003.2
Personalised Medicine Leads to Radical Shifts in Manufacturing
Disruptive innovation can be tumultuous, but exciting. Case in point, personalised medicine has grown in leaps and bounds – recent advancements have made the dream of gene and cell therapy a reality. The market is expected to grow significantly and contract manufacturers are at the forefront.
Resilience Takes on a New Meaning in Supply Chains
Demand created by the pandemic, a surge of interest in personalised medicine and changing supply chains are creating a perfect storm for changes throughout in Asia. In an effort to reduce dependence on a single source, pharmaceutical companies are now willing to pay a premium to ensure they can draw upon multiple sources for the compounds required.10
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