Often considered recession-proof, the life sciences sector faced a surprising amount of uncertainty over the past few years with up to 80% of companies saying they’ve been negatively impacted by the macroeconomic conditions that have shaken markets around the world.
But even as the inflation and supply chain disruptions that have put pressure on the sector persist, industry leaders are optimistic that innovation and adaptations can keep life sciences resilient. Here’s what’s shaping the industry in the year ahead and how Pressure BioSciences (OTCQB: PBIO) is positioning itself to leverage new opportunities across the sector.
A $200 Billion Patent Cliff Is Redistributing Market Share And Rebalancing Portfolios
Just 7% of specialty drugs on the market today have biosimilar competitors in the U.S. But as a flood of patent protections expires over the next few years, that number is expected to more than triple. That’s because between 2020 and 2030, patents for drugs generating a combined $200 billion in annual revenue will lose patent protection. That’s spurring unprecedented expansion in the biosimilar market which is growing at an estimated compound annual growth rate of 56%, from $15 billion in 2020 to over $60 billion by 2030.
For the brands that originally benefited from that exclusivity, the so-called patent cliff represents a painful transition period as their revenue takes a hit and they’re forced to find other ways to make up the losses. But for small and mid-sized biotechs and pharmaceutical companies, …