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The Innovative & Dynamic Biopharma Industry
January, 2019
The Biopharma Industry is a four-dimensional, dynamic state of existence for the biopharma direct, adjacent and ancillary support players - a true Ecosystem.
In light of recent discussions regarding the Biopharma Ecosystem, this article seeks to articulate the subtle nuances of the biopharmaceutical industry along with the depth and complexities within which the industry exists.
The landscape in which many businesses operate are four-dimensional, driven forward in space by time. This is how we describe the biopharma ecosystem: it is a four-dimensional dynamic state of existence for companies that exist in and around the biopharmaceutical marketplace.
To better visualize this concept, think of the biopharma ecosystem using the theory of the big bang. The first biologic emerged from a nebulous cloud filled with ideas, inspiration, innovation and a spark. When this spark was lit, it created an outward explosion that began to propel the industry upward and outward in all directions. The ideas and resources from the cloud began to form into organizations that produced central mass such that they were large enough to generate speed and momentum to propel them faster outward. The regulatory bodies took a lead role in helping to define policy frameworks to guide the trajectory while suppliers and those in the adjacent markets came into existence in response to the needs of biopharma direct companies.
However, there were other ideas that were slower to reach amalgamation. These ideas stayed closer to the point of ignition and may have gravitated towards each other, merging/consolidating in order to amass the size required to gain speed and momentum. To support this process, other influencers took shape such as consortiums, clusters and incubators. All the while, new entities continue to come into existence or merge within this ecosystem in response to the changing market conditions and the opportunities that it presents.
Over time, the ecosystem changes shape and direction as those on the frontier push the boundaries and move into adjacent areas to explore new possibilities – setting the tone for the rest of the industry to follow – possibly merging with another ecosystem, (as happened with the pharmaceutical industry). On the interior, firms have a long view of the ecosystem. The “ankle biters” (as they are known by those on the frontier) are astute at identifying opportunities to go further. The efforts of those on the interior may also disrupt the ebb and flow of the ecosystem, causing it to change speed or direction from within.
This ecosystem would not exist were it not for the visionaries, the accidental inventors and the opportunists that help drive the industry forward through the exploration of new technologies, ideas and discoveries.
Insight
Bottomline, there are many opportunities the biopharma ecosystem to lead, support or service the industry as a whole. Given the on-going pace of technology innovation and the intersection of science and technology to drive better outcomes, improve the rate of drug discovery, provide enhanced therapies to target disease at its genetic state – the opportunities within the biopharma ecosystem are nearly limitless.
By: Kiran Chin