Pharmaceuticals, medical devices, biotechnology, biopharmaceuticals, among other divisions of life science companies, have seen an increase in demand for personalized medicine. As a result, the COVID19 has impacted the market, making it witness a growth in the need for life science analytics and its ability to predict aid in the healthcare industry.
Everything from determining disease severity, risks, resource shortages, determining patient volumes, and managing better the human personnel within a hospital is only one side of the need for investment and keep traction of bolstering the healthcare system.
The market environment in the life science industry
Having software or piece of hardware able to monitor patients with a certainty of effectiveness is not a story of science fiction. It has been improving at an accelerated pace. Not just for medical devices, but consumer goods are integrating medical software to monitor the health measurements has been a growing industry.
How do the companies keep up with it?
“With the US market specifically relying on China to supply 90% of its APIs, a large swath of global life sciences customers including Pfizer, Johnson and Johnson, and Novartis and more specialist organizations like Vertex and Jazz Pharma have been impacted.”
(source: aws.amazon.com)
The trade war going on and the challenges are shown in the COVID19 pandemic have companies in the life sciences industry considering alternative ways to keep up with market demands. The need for keeping a closer relationship with their logistical and supply chain providers is bigger than ever.
When a company focuses on advancing, there are times to adapt by learning or evolving by getting the professional team for assistance. But how can this be possible?
Contract Research Organizations (CROs) / Contract Manufacturing Organizations (CMOs)
These organizations play a supporting role in all life science companies. Also known as Contract Development and Manufacturing Organizations (CDMOs) support the efforts of researching, testing, refining, and manufacturing their clients’ products.
These branches or divisions assist the main branch in focusing their energy on either the cybersecurity of their data, innovation or the marketing side of their products.
Due to their specific approach, they handle the needs themselves of obtaining the needed materials, the requirements ensured, among other details that each one can work on while doing the contracting work.
This is one of the reasons many companies have been able to grow without falling behind in their supply of products, obtaining help from CMOs or CDMOs.
Compete with the tech giants with the right network
Tijuana EDC is part of a Binational Region where CMOs and CDMOs operate and have a network of manufacturing companies in the Life Science industry. If you need to know more about the options available for your company, Tijuana could open a new set of growth opportunities. Send us an email at contact@tijuanaedc.org, or call us at Tel. (664) 681-8344
