Biotechnology and life sciences are the spearheads that lead innovation, especially in the area of healthcare and pharmaceuticals. Scientific insights empower the industry to lead transformation. The pandemic highlighted the importance of the industry as a whole to battle against COVID-19 and its effects, which may have led the sector in a positive direction towards future scientific developments.
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.
Biological breakthroughs and advances in gene sequencing allowed faster discovery in the field, especially in identifying coronavirus sequences. The growth in the biopharma industry and greater accessibility to advanced research techniques have allowed for many players, from private and 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 the research of 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 joints, and imaging machines. Innovations in bioinformatics, genomics, and nanotechnology also drive the medical devices sector forward.
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