Biotechnology and life sciences are the spearheads that lead to innovation, especially in the area of healthcare and pharmaceutical. Scientific insights empower the industry to lead transformation in their business. The pandemic highlighted the importance of the industry as a whole to battle against COVID-19 disease and its impacts. The effects may have lead the sector to a positive direction.
The life sciences industry studies living organisms and life processes such as humans, animals, plants, and micro-organisms. Biotechnology is the biggest sector within life sciences. Biotechnology is used to create and develop different products in different industries such as healthcare, agriculture, food production, and many more.
Biologic breakthroughs and advances in gene sequence allowed faster discovery in the field, especially in identifying Coronavirus sequence. The growth in the biopharma industry and greater accessibility to advanced research techniques have allowed for many players, from private to public to academic, to enter the industry. The biotechnology and life sciences industry is expected to grow and reach a market size worth $2.44 Trillion by 2028. The biggest players in the industry include Johnson & Johnson, Roche, Pfizer, Novartis, Amgen, Sanofi, AbbVie, GlaxoSmithKline, and Bayer.
Immunology is the study of the immune system and is a vital branch of the medical and biological sciences. The immune system is a set of lines of defense against infection. The study also extends to research on diseases, autoimmunity, allergy, and cancer.
Medical devices are instruments used by scientists in the life sciences industry. Such devices include common well known surgical instruments, artificial joint, and imaging machines. Innovations in bioinformatics, genomics, and nanotechnology also drive the medical devices sector forward.
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