Large pharmaceutical companies are facing challenges because of patent expiration of their blockbuster drugs and squeezing drug pipeline. Patent expiration of drugs is leading to boom in generic drugs market and in turn benefitting small pharmaceutical companies. Consequently, large pharmaceutical companies are also venturing into the generic drug market either through new acquisitions or setting up generic drug business in-house.
In addition, large pharmaceutical companies are increasingly seeking to acquire biotechnology and research firms with a focus on gaining access to new molecules rather than developing those internally. Pharmaceutical companies typically favor biotechnology firms which are having products at late-stage development or are involved in technology innovation.
Medical and biotechnology industry is focusing on emerging markets owing to increasing support from governments in the form of investments and regulatory reforms. This has facilitated various drug manufacturing and biotechnology companies to outsource their research & development activities to contract research organizations (CROs). CROs have enabled large pharmaceutical companies to avail of cost-efficient models with high level of technical expertise.
Another significant aspect of the medical industry involves development of a regulatory framework that ensures proper operability and functionality of medical companies in accordance with human health and safety. Presently, Asian countries are working towards formation and implementation of organized regulatory framework to assure proper compliance of policies. With increased sharing of inter-agency information, global medical industry is expected to witness further developments towards single global drug safety system. This system is anticipated to harmonize business processes with the help comprehensive compliance programs.
ASDReport.com has a good collection of reports on medical industry companies. These reports provide an extensive coverage on market assessment, competitive analysis and mergers and acquisitions activities of medical device, pharmaceutical and health insurance companies.