Tremendous growth potential in the US biopharma and life sciences market
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Tremendous growth potential in the US biopharma and life sciences market
The United States has long been a dominant force in biopharmaceuticals and life sciences, boasting impressive numbers highlighting its position as a global powerhouse.
The United States is home to six of the top ten biopharma companies globally. Industry giants such as Pfizer, Johnson & Johnson, Merck & Co., AbbVie, Amgen, and Bristol Myers & Co. are headquartered in the United States. These companies have contributed significantly to the growth and advancement of the biopharmaceutical industry, leveraging their expertise and resources to develop groundbreaking therapies and treatments.
“It is worth noting the impressive speed at which the biopharmaceutical industry in the United States has responded to global challenges. The COVID-19 pandemic is a prime example. New drugs and vaccines were developed and approved in record time, with manufacturing capacities being expanded at an unprecedented pace,” Albeck says.
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The US as the biggest spender on healthcare in the world
High-income nations, such as the United States, typically allocate a greater amount of expenditure per individual towards healthcare and associated costs compared to lower-income nations. Nevertheless, even among affluent countries, the United States stands out by significantly surpassing others in terms of per capita healthcare spending, according to the Peterson-KFF Health System Tracker. In 2021, the National Health Expenditure (NHE) in the United States reached almost four trillion euro, accounting for 18.3 percent of the gross domestic product (GDP). Due to the country’s significant spending from both public and private sources, the healthcare sector has become financially advantageous for private enterprises. Consequently, major pharmaceutical corporations find themselves in a favorable position to expand their operations, drive advancements in medical research, and create innovative treatments.
US biopharmaceutical market: unprecedented growth potential
Exyte is a global leader in project delivery of large engineering, procurement and construction (EPC) projects for advanced manufacturing facilities and on the leading edge of innovative technology and delivery techniques. “We have built a strong ever-expanding team of architects, engineers, subject matter experts, project and construction managers,” Albeck says.
The biopharmaceuticals market in the United States holds a prominent position on the global stage, driven by its remarkable growth potential. In 2022, the global biopharmaceuticals market is estimated to be approximately 403 billion euro. However, the forecasted trajectory is even more impressive, with expectations that the market will surge to nearly one trillion euro by 2030, representing a significant compound annual growth rate (CAGR) of more than twelve percent.
Albeck is certain about Exyte’s ability to leverage its expertise in the business. “With a focus on driving growth in the rapidly growing market of biotechnology and pharmaceutical manufacturing facilities, our passion for innovative technology, and ability to build high-performing teams, will position us to seize the tremendous growth potential in the industry.”
US leads biopharma innovation and advancement
As the biopharmaceutical and life sciences industry enters a new era of advancement, the United States stands as a trailblazer in innovation and development. Recent groundbreaking discoveries by American scientists are further propelling the industry forward, revolutionizing biotechnology on multiple fronts. The most notable innovations in biopharmaceutical manufacturing involve personalized medicine, gene editing with clustered regularly interspaced short palindromic repeats (CRISPR), synthetic biology, regenerative medicine, and utilizing artificial intelligence and big data in manufacturing.
“Exyte understands the challenges clients face when trying to balance the development of innovative medicinal products which require flexible facilities that can accommodate technology advancements of the manufacturing process equipment with the ever-present demand to bring products to market swiftly,” Albeck, who is a firm believer that capitals projects are a team endeavor, says. From beginning to end, Exyte focuses intently on the manufacturing process, as the ultimate driver for clients is getting life-saving treatments to their patients as soon as possible.
Exyte’s process technologists have the experience of working with clients to address operational and compliance requirements as they progress from drug development to commercialization. “Our project delivery experts continue the focus on the manufacturing process by utilizing trade integrated, design-build, and modular execution strategies to expedite speed-to-market while ensuring cost and schedule certainty ,” Albeck states.
Rapid delivery and full EPCMQ services
Exyte offers full engineering, procurement, construction management and qualification (EPCMQ) services to highly complex projectsfor the world’s leading life sciences multinationals. Clients trust the company to provide services from architectural design, technical building infrastructure and engineering through to automation, commissioning, and qualification. Exyte takes on overall responsibility for quality assurance and delivering the project within the set timeframe and budget.
About Chris Albeck
Chris Albeck is a highly accomplished professional with over 20 years of experience. He holds a degree in chemical engineering and a professional engineering license. As a certified project management professional, Albeck has successfully managed projects of varying sizes, overseeing their planning, execution, and delivery. As Senior Vice President of the United States Biopharma and Life Sciences business segment at Exyte, Albeck is responsible for all operations (sales, engineering, procurement, project management, construction management, project delivery, etc.).
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