Changing lifestyles have led to rising individual disposable incomes across the world. This increase has caused a subsequent demand for a variety of goods such as food, cosmetics, textiles and even new homes. As a result, we’ve seen a push in the production of raw ingredients needed for the additives, polymers and compounds crucial to these areas. Experts predict that we will see the specialty chemicals market growth reach approximately $474 billion by 2020. The estimated figure suggests many opportunities await firms interested in developing innovative, advanced specialty chemicals.
The current state of the oil and gas market has placed many companies in a difficult situation. Plummeting prices have eaten into the profits that firms once enjoyed only a few years ago. These days, we’re more likely to hear about closing oil operations and employee layoffs. Combined with the […]
Major depressive disorder, or simply depression as it’s often referred colloquially, is one of the most common forms of mental illness today. Due to the number of people afflicted, many pharmaceutical companies have dedicated a large amount of resources to develop medications that can treat and manage the mood disorder. In fact, there are over 20 types of antidepressants currently available on the market. Despite the variety of approved medications, many people with depression—especially those with the chronic form of the disorder—continue without relief as existing drugs fail to help their condition. As a result, some patients have turned toward alternative methods such as repeated exposure to near-infrared light and infusions of a staple anesthetic popular among veterinarians and burn centers. And while the latter treatment, in particular, has caused some excitement within the psychiatric community due to its fast-acting effects and high efficacy among patients, the fact is that its results are only temporary. Patients can relapse only one week after an infusion. Such a treatment may function well as a stopgap in cases of people with serious symptoms of depression, but we cannot consider this viable in the long-term. The costs and dosing schedule necessary to administer the infusions could be untenable to the patient.
Move over kale and quinoa. Consumer demand for so-called superfoods has given way to another trend this year: authentic, traditional ethnic foods and flavors. Experts say that 2016 will be characterized by a growing interest in international cuisines, condiments and spices. There are a couple of factors that contribute to this trend. One is the sustained popularity of flavors like sriracha, the now-ubiquitous hot sauce from Thailand. As sriracha becomes a staple in households and even non-Asian restaurants across the US, food companies have begun searching for the next hot flavor trend, hoping to replicate its success.
When most people develop a headache, they can rely on a number of over-the-counter drugs to treat the problem. In most circumstances, these medications will alleviate the pain within a reasonable amount of time. Unfortunately, migraines are not regular headaches. A migraine can last anywhere from 4-72 hours, with chronic sufferers experiencing them more than 15 days a month. In addition to the debilitating pain that characterizes the condition, migraines are often accompanied with nausea, auras, and sensitivities to light and sound. Approximately 730 million people suffer from migraines worldwide, making it the most common neurological condition today. Given the number of afflicted people, we would assume that there would exist a variety of drugs and therapies to treat and cure them. The reality couldn’t be further from the truth.
As technology advances, so does our ability to collect data from experimental assays and procedures. But the more data we collect, the more important it becomes to manage the information effectively. The sad reality is that we can easily get overwhelmed by the large volume, finding ourselves unable to use the accumulated knowledge to our advantage. However, the ability to access and mine huge swaths of data is necessary to drive advances in various industries. Let’s look at the Human Genome Project as an example. Because of this multimillion dollar collaborative effort, we now know the exact sequence that encodes human DNA. With that information, scientists can unlock the mechanisms behind specific biological processes in the body, in the hopes of developing therapies for various diseases and conditions.
As Pharmaceutical/Biotech (Bio-Pharma) companies look for opportunities to accelerate innovation, continuous improvement is a strategic imperative. To fast-track innovation, companies need to be open to new ideas and have awareness of new and emerging systems and technologies.
Does your organization have the capacity for global expansion? As biotech and pharmaceutical companies pursue opportunity in maturing markets and emerging economies, they rely on commercial solutions to globally expand what has become an evolving vendor ecosystem. But opportunity has its price. Increasing the use of external resources to achieve clinical advancements and healthcare discoveries requires the best practices for managing the complexities of R&D and therapeutic innovation. Enterprises within the life sciences industries looking to squeeze the most out of their investments as they expand into new markets face the ultimate challenge: improve operational excellence to better deliver new therapies while minimizing and regulatory risk and cost.
Quality management remains a top concern of many life sciences companies. How do they streamline quality processes to minimize bottlenecks and speed up the release cycle to gain advantage in today’s competitive pharmaceutical market? Even more importantly, how do they achieve these goals while keeping costs down in order to […]
As an industry actively transforming itself in the pursuit of reestablishing long term sustainability, life sciences organizations are just beginning to embrace true digital transformation. The goal is to deploy a more holistic strategy that supports a much broader organizational approach to transformation than the current incremental focus on near term technological innovation, operational efficiency and the externalization of non-core competencies common in industry transformation efforts today.