GLOBALDATA PLC 
According to results from a survey by
Inflation and geopolitical pressure
The second biggest negative impact was thought to be geopolitical conflicts and inflation. "Geopolitical tensions and conflicts bring uncertainty to the economic outlook as deteriorating relationships are often accompanied by numerous repercussions ranging from reduced cooperation, IPO market disruptions, to economic sanctions," noted Urte Jakimaviciute, Senior Director of Market Research at
Pharma pushes for
UK medicine scheme revision
Drug pricing was considered as the most negative emerging regulatory and macroeconomic trend, impeding growth for the industry, based on
"Price controls - which apply to medicines in most major markets - mean that drug prices are not typically allowed to rise at the same rate as general inflation. Nevertheless, this may limit the revenue growth for pharma, with production costs on the rise: for example, due to suppliers rising the costs and employees expecting pay rises, drug production costs may increase well above inflation rates," Jakimaviciute asserted.
Further findings from the report
However,
The pharmaceutical industry will need to innovate and increase resilience to accelerate market expansion, the company highlighted. The report recommened that to gain a competitive edge in the market, focusing on modernising R&D models or implementing emerging technologies could support this endeavour.
Lastly, according to the research, two other emerging industry trends in the biopharmaceutical industry are immuno-oncology drug development and real-world evidence (RWE).
The post Financial factors to support and challenge Pharma in 2024 appeared first on European Pharmaceutical Review.
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