The US Biopharmaceutical Industry: Perspectives on Future Growth and the Factors that will Drive it

The Pharmaceutical Research and Manufacturers Association has published an industry report — "The US Biopharmaceutical Industry: Perspectives on Future Growth and the Factors that will Drive it".

Key findings of the report include

• As the ability to innovate is increasingly becoming the most important determinant of a nation’s future potential for economic growth and global competitiveness, the biopharmaceutical industry ranks among the most innovative advanced manufacturing industries in the US economy.

• Although the US is currently the world leader in innovative biopharmaceutical R&D and manufacturing, industry executives expressed concern that US leadership cannot be taken for granted.

•  The three policy factors identified as most critical for enabling innovation and the resulting economic contributions in biopharmaceutical R&D and manufacturing are (1) coverage and payment policies that support and encourage medical innovation; (2) a well-functioning, science-based regulatory system; and (3) strong IP protections.

• Insights from industry executives informed the development of two potential growth trajectories for the innovative biopharmaceutical industry in the US during the next 10 years, with well over 300,000 retained and newly created jobs at stake between the two scenarios. The industry executives viewed the likelihood of achieving these alternative futures as highly dependent on policy choices made in the US. 

To download a free copy of the report, click here.