Research: What will drive 54% of biopharma industry revenue through 2022?

‘New Science’ is expected to drive 54% of biopharma industry revenue through 2022, as well as increase the likelihood of regulatory approval of a new treatment, and raise the standard of patient care, new research shows.

The adoption of a unique combination of the best in science and health technology such as genomics, biomarkers and companion technologies are expected to be the biopharmaceutical industry’s new growth machine, according to new research from global consultancy  Accenture (NYSE: ACN).

This ‘New Science’ is filling an unmet need to advance the standard of care, and Accenture research found that companies that are leading in New Science are investing six to seven times as much money — $250 million annually or more — in digital, data and genomics than their peers to develop more precise treatments and interventions that improve patient outcomes.

“The biopharmaceutical industry is at an inflection point where traditional business models are being challenged by declining drug pipeline, pipeline replacement ratios, and the amount of time a product retains its market leadership,” said Stuart Henderson, senior managing director and global lead of the Accenture Life Sciences practice. “This is weakening investor confidence in the industry’s future earnings, indicating it is facing compressive disruption where a series of innovations, macroeconomic factors and other changes combine to squeeze profits over a decade or more. The good news is there is an exciting new growth engine where science is combining with novel ways of using technology to discover, develop and deliver much more targeted and effective treatments. We are calling this emerging category New Science,” he explained