Mirae Technology Institute Hosts Global Pharmaceutical and Bio Industry Outlook Conference

[Asia Economy Reporter Myunghwan Lee] The Korea Future Technology Education Institute announced on the 17th that it will jointly hold the '2023 Global Pharmaceutical & Bio Industry Outlook Conference' both online and offline on the 17th of next month.

The institute explained that in the era of the 4th Industrial Revolution, the status of the pharmaceutical and bio industry, one of the future innovative growth engine industries, is becoming more prominent. Especially due to the COVID-19 pandemic, the pharmaceutical and bio industry has established itself as a national task for securing pharmaceutical sovereignty, and recently, the integration of artificial intelligence (AI) is shortening the drug development period. Furthermore, with blockbuster drug patents expiring from 2023 onwards, growth in the biosimilar market is expected.

According to a report by Evaluate Pharma, a global pharmaceutical industry analysis firm, sales of prescription drugs are expected to grow at an average annual rate of 6.4%, reaching $1.408 trillion (approximately 1,629 trillion KRW) by 2026. Among these, the share of biopharmaceuticals is expected to increase from 30% in 2020 to 37% in 2026.

Our government also announced plans in July through the 'Biohealth Industry Innovation Plan,' an investment plan for pandemic preparedness and global advancement of the pharmaceutical and bio industry, including support for research and development, workforce training, and development of digital therapeutics and electronic drugs.

The conference will cover topics such as ▲support measures for innovative new drug development and business expansion through global localization strategies ▲biopharmaceutical manufacturing, quality control, and quality by design (QbD) ▲microbiome research and development (R&D) trends and industrial application and commercialization strategies ▲our new drug research strategies according to global innovative new drug development trends ▲research and therapeutic product development trends in advanced regenerative medicine ▲next-generation vaccine and new/emerging infectious disease response technology development trends ▲large-scale gene analysis using next-generation sequencing (NGS) technology.

An institute official stated, "This seminar will be a venue to share various technologies and information across the pharmaceutical and bio industry and present corresponding business strategies not only for those working in healthcare, medical, and pharmaceutical fields but also for everyone interested."

This content was produced with the assistance of AI translation services.