Top 7 Biotechnology Trends to Watch in 2024
11 min read
This article takes a look at the top biotechnology trends in 2024, tackling global challenges such as disease and emissions. It explores personalized treatments, AI-driven genetics, and innovative software that will shape healthcare and research.
Biotech’s revolutionary medical projects will revolutionize our future as we address global issues such as disease, emissions, and food management.
Understanding these biotech trends can help companies capitalize on the industry’s exponential growth opportunities.
This article explores the top seven trends that will reshape the biotech landscape:
- Personalized Medicine. Tailoring treatments to individuals using genetic knowledge.
- Gene Editing and CRISPR Diagnostics. Harnessing CRISPR and AI for precision genetics.
- Machine Learning and AI. Powering biotech breakthroughs with intelligent algorithms.
- Stem Cell Technology. Pioneering regenerative medicine with simulation and modeling tools.
- Tissue Engineering and Bioprinting. Creating functional organs and tissues through bioprinting software.
- Big Data. Revolutionizing research through advanced data analytics and management.
- Drug Research. Accelerating drug discovery with cutting-edge software solutions.
Throughout these trends, custom healthcare software development emerges as the driving force, turning innovative concepts into tangible biotech advances.
Embark on a journey through the biotech landscape of 2023 as we delve into these seven transformative trends. Discover how they will reshape healthcare, genetics, and research, and unlock new frontiers in biotechnology.
What is Biotech?
A branch of technology known as “biotech” uses biomolecular and cellular processes to produce goods for the food, medicine, and energy industries.
Biotech has become one of the most innovative industries, with scientific and technical breakthroughs.
According to Vision Research Reports, the global biotech market is expected to exceed $3.44 trillion in 2030, driven by the rapid growth and acceptance of emerging technologies, goods, and services that address significant problems and opportunities.
There are three main fields of biotechnology:
- Medicine. Pharmaceuticals, treatments, genetics, and clinical trials are examples of areas where biotechnology is being used to improve human health.
- Industry. The energy and manufacturing industries are using biotech to create small solutions using yeast, enzymes, and microorganisms.
- Agriculture. Biotech in agriculture leverages existing organisms to modify and improve agricultural products, making them safer and more efficient to produce.
The following section will mostly focus on biotech in the healthcare industry.
Biotech in Medicine
Medical biotech is a field of healthcare that studies and produces pharmacological and diagnostic products using living cells and cell components. These products help treat and prevent disease. Medical biotech is making significant advances and helping millions of people.
Recent applications of biological technology include genetic testing, medication therapies, and artificial tissue growth.
Biotechnology in medicine has the potential to:
- Reduce the prevalence of infectious diseases.
- Reduce the likelihood of individuals around the world developing life-threatening diseases.
- Create personalized therapies to reduce health risks.
Top 7 Trends in Biotech
Personalized medicine is the practice of tailoring healthcare to individual patients based on genetics, habits, and external factors. By providing the right therapy at the right time for a specific individual, this strategy aims to improve the safety, efficiency, and affordability of healthcare.
In biotech, this is enabling faster and less expensive sequencing of human DNA to help doctors and researchers understand how genes impact health and disease, and how they respond to medications and other therapies. Among the many benefits of personalized medicine is the ability to identify which individuals are more likely to respond to certain cancer therapies or are at risk of adverse drug reactions.
According to Allied Market Research, the global personalized medicine market size was $300 billion in 2021 and is expected to reach $869.5 billion by 2031, representing a CAGR of 11.2% from 2022 to 2031.
Gene Editing and CRISPR Diagnostics
Biotech is not only improving therapies, it is also speeding up diagnostic results. The gene-editing technology CRISPR can now run many tests faster and cheaper. One way in which CRISPR technology is reducing the cost of diagnostics is by enabling patients to carry out tests at home.
Gene editing, which includes CRISPR technology, is a rapidly developing field in biotechnology, particularly for the treatment of genetic abnormalities and chronic diseases. Gene editing can be used to add, replace, or neutralize specific genes.
In addition, precision medicine is now possible through gene editing and sequencing. This allows doctors to determine the best course of action for a particular patient. For some diseases, such as various types of cancer, precision medicine also allows doctors to customize therapies.
Precision medicine is also being used by biotech entrepreneurs for drug discovery, gene therapy research, and other drug delivery methods.
Machine Learning and AI
Artificial intelligence (AI) and machine learning (ML) are areas of computer science that allow machines to perform activities that would normally require human intellect, such as knowledge acquisition, deductive reasoning, and problem solving.
Artificial intelligence (AI) continues to find applications in a wide range of sectors, particularly biotech. According to StartUs Insights, AI will be the most important biotech topic in 2024.
AI has been used by biotech companies to improve the automation of various operations. For example, AI can find biomarkers for use in drug development and diagnostics. AI algorithms can also identify human disease characteristics such as cancer cells by categorizing images.
Given the sector’s upward trajectory, we can expect to see more biotechnology companies adapting these technologies to drive innovation, particularly in genomics and drug development.
Stem Cell Technology
Undifferentiated cells called stem cells can repair damaged organs and tissues, making them an important component of regenerative medicine. Other potential uses for stem cell technologies include drug testing, disease simulation, and treatment of diseases such as Parkinson’s and Alzheimer’s.
The global market for stem cell technologies and therapies is projected to grow at a CAGR of 9.74% from 2023 to 2030. As a result, future research in these areas is expected to increase.
Tissue Engineering and Bioprinting
Bioinks made from biomaterials are used in bioprinting. Biotechnology companies use cells as substrates that expand within a scaffold to allow the patient’s own cells to form bone, skin, or vascular grafts.
Tissue engineering is a related field that has grown rapidly in recent years as a result of developments in bioprinting. Tissue engineering can be used to produce tissue grafts from a person’s own body to heal burns. These tissue grafts can also be used in regenerative medicine and organ transplantation.
For example, 3D Biotechnology Solutions is a Brazilian company that develops bioprinting solutions. The company’s 3D bioprinter, Genesis, is aimed at tissue engineering and regenerative medicine researchers.
The amount of data available for biotech analysis has never been greater. With the integration of sensors and the IoT, biotech scientists now have unprecedented access to data.
The management and preservation of EHRs is an issue that the healthcare industry and big data are now addressing. The US government is investing $19 billion to accelerate the use of electronic medical records.
With medical records stored in a directory, the medical field has a pool of data to work with to improve diagnosis and treatment.
For example, BioXplor, a German company, is using big data to develop better and safer treatment regimens. It uses network pharmacology to create treatments from disorganized and disparate data sources. The startup’s approach detects whether drug combinations have synergistic or antagonistic effects. It also mines patient information for responder and non-responder signals to improve patient results and analyze treatment response.
Advances in smart technology have made drug development one of the most promising areas of biotech. Drug development has always been plagued by problems such as finding enough volunteers for trials and lengthy production schedules that can take years. The use of machine learning has enormous potential for drug research, and also offers techniques for improving and analyzing medicine, diagnosis, and therapy.
Biotechnology shortens drug development timelines without requiring drug companies to recruit thousands of patients for clinical trials.
MRI scans, along with other in-patient monitoring tools, provide medical professionals with more objective data, allowing them to develop better pharmacological therapies for patients. As advances in biotechnology have made clinical trials less of a manual process, pharmaceutical companies can save money by enrolling fewer in-person patients in trials.
Biotech companies can use the digitalization of clinical trials to integrate genetic and biometric data to discover the underlying causes of illnesses such as heart disease.
Custom Healthcare Software Development to Bring Biotech Trends to Life
Medical software development companies can play a pivotal role in promoting and implementing the latest trends in biotech for the healthcare industry. Here’s how they can contribute to each of these trends:
Data Integration Platforms: Custom healthcare software development companies can develop platforms that can integrate and analyze patient data from various sources, including genomic, clinical, and lifestyle data. These platforms should enable healthcare providers to tailor treatment plans for individual patients based on their unique profiles.
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Clinical Decision Support Systems: A custom medical software development company can build AI-driven clinical decision support systems that provide real-time treatment recommendations to healthcare professionals. These systems can take into account patient-specific data and the latest medical research to provide the most personalized care.
CRISPR Tools: A healthcare development company that is developing software tools to help researchers design and simulate CRISPR-Cas9 experiments. These tools should provide insight into target selection and help minimize off-target effects, thereby improving the precision of gene editing.
Data Analysis and Visualization: Medical development companies can develop software to analyze and visualize the results of gene editing experiments, making it easier for researchers to interpret and share their findings.
Machine Learning and AI
Disease Prediction Models: Software development companies can build machine learning models that analyze patient data to predict disease risk and progression. These models can be integrated into healthcare systems to support early diagnosis and intervention.
Drug Discovery Platforms: These companies can develop AI-driven drug discovery platforms that analyze vast amounts of data to quickly identify potential drug candidates. These platforms can significantly accelerate the drug development process.
Stem Cell Technology
Simulation and Modeling Tools: A custom healthcare software development company can create software to simulate and model the behavior, differentiation, and interactions of stem cells within the body. These tools can help researchers understand and optimize stem cell therapies.
Patient-Specific Protocols: A software development company can develop software that generates patient-specific stem cell treatment protocols, taking into account individual health records and genetic information.
Tissue Engineering and Bioprinting
Bioprinting Software: These companies can develop software to precisely control 3D bioprinters. This software should enable precise deposition of biomaterials and cells to create functional tissues and organs.
Virtual Tissue Design: Software development companies can develop tools to virtually design complex tissue and organ structures, optimize scaffold materials, and simulate the entire bioprinting process.
Data Management and Analytics Platforms: Healthcare development companies can create robust data management and analytics platforms tailored to the healthcare and biotech sectors. These platforms should facilitate the storage, processing, and analysis of large amounts of biological and clinical data.
Data Visualization Solutions: These companies can develop data visualization tools that enable researchers and healthcare professionals to easily explore and interpret complex datasets. Interactive visualizations can help identify patterns and insights.
Cheminformatics Software: A software development company can create chemoinformatic software that helps analyze chemical structures, predict drug interactions, and design molecules with desired properties.
Clinical Trial Management Systems (CTMS): Healthcare software development agencies can develop CTMS to streamline the management of drug development processes. These systems should handle everything from preclinical research to regulatory compliance and clinical trial tracking.
The biotechnology sector is a dynamic, fast-moving market with enormous scope for innovation and expansion. With this in mind, biotechnology companies that keep abreast of the latest trends and developments have a greater chance of success and help create a brighter future.
Advances in biotechnology are critical to transforming healthcare worldwide. As the COVID-19 pandemic showed, rapid action is more important than ever in the fight against disease.
Sigma Software collaborates closely with biotech and healthcare organizations to create customized solutions that meet specific needs and regulatory requirements. By providing expertise in custom healthcare software development, the company is helping accelerate the implementation of cutting-edge biotech trends in the healthcare industry, ultimately improving patient care and outcomes.
If you are in the biotech industry or have a biotech-related project and require healthcare software development services, please contact our Healthcare IT Solutions division for a consultation.
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