siliconindia | | DECEMBER 20248As we almost close off 2024, it is time to take a look at the present state of predictive biotechnology, an emerging industry that has reached a critical crossroad. With advancing technologies and transforming market forces, predictive biotech continues to reconfigure the landscape of healthcare and drug development, with its reach extending into many other fields as well. The last two to three years have been nothing short of transformative, marked by groundbreaking innovations that not only enhance clinical outcomes but also optimize the future of biotechnological processes through data-driven insights. This momentum is expected to continue, potentially staying ahead of clinical breakthroughs, thanks to the power of AI, machine learning, and predictive modeling applied to clinical trials.Predictive biotechnology has, in fact expanded rapidly within the general scope of the biotechnology industry, especially in chemistry and pharmaceuticals, through process and product optimization by means of advanced analytics and forecasting. With this technology, it becomes more and more important to small startups and big pharmaceutical giants alike. Research institutes and collaborative partnerships with industry leaders remain central to driving innovation, housing bright minds, and enabling breakthrough technologies. However, the sector is not without its challenges, particularly the lack of well-trained personnel capable of developing predictive models that address emerging global issues like energy transition, climate change, bioplastics, and nutrition. Clearly, concentrated efforts and collaborations will be required to ensure predictive biotechnology can meet both societal needs and environmental sustainability goals.Can Biotech Overcome Setbacks?Despite facing a challenging environment, predictive biotechnology is poised for a recovery in 2024. Recently, the biotech sector has encountered a complicated financing environment, particularly because VC investments are slowing down. Investors are becoming more selective and focusing only on few higher-quality opportunities, however, such activities have not lost any steam for VC fundraising. Secondly, the industry faced the impending threat of stricter price regulations on drugs through the Inflation Reduction Act that posed obstacles to getting reimbursement for new innovations. However, the industries' intrinsic financial strength, growth through innovation, and strong pipeline assets advancing to the clinical phase helped it overcome these challenges. The biotech sector has also experienced an upsurge in shareholder activism, M&A activities, and improving IPO market, all of which indicate the potential pickup of 2024. This uptick will be supported by higher investments, innovative products, and refreshed market dynamics.Biotechnology's Future at Bengaluru Tech Summit 2024At the recent Bengaluru Tech Summit 2024, siliconindia took center stage as a media partner, witnessing the grand opening. Since its inception, the Department of Electronics, IT, and Biotechnology, Government of Karnataka has sowed the seeds that have correctly positioned Bengaluru on the global innovation map.During the summit, Dr Kiran Mazumdar-Shaw, Executive Chairperson and Founder - Biocon Limited Chairperson - Vision Group on Biotechnology- CAN PREDICTIVE BIOTECHNOLOGY LEAD THE NEXT BIOTECH WAVE?EDITORIAL EXCLUSIVE
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