In 2019, for most people, the pandemic is just a science fiction story, a movie thriller, or something they learned in history class. Now, anyone can have an informed discussion about PPE, antigens, and how to “flatten the curve.” For those of us in biotechnology, the pandemic has also taught us a lesson, while also showing us how much more we need to discover in terms of disease biology and how viruses work in the body.
As we continue to battle Covid-19, it’s clear that the biotech industry has learned a lot about science. By acknowledging what we do right, understanding our humanity, and using the tools at our disposal to predict the next global health crisis, we can do more than survive – we can adapt and thrive. But we must be prepared.
So how can the biotech industry prepare for the next pandemic?
First, we need to leverage the lessons learned from Covid-19 and realize that the next global health threat humanity will face in the next 10 years will be the fight against microbes. We also need to observe and understand how our bodies and brains serve as the yardstick for identifying these new insults.
Armed with this knowledge, we can begin to make predictions, take precautions, and save lives. In addition to understanding our biology, we need to use all the weapons in our arsenal, and one of our best defenses, one that has been consistently proven in the midst of a pandemic, is artificial intelligence (AI).
Using AI-driven biotechnology to simulate what these new attacks will look like could give us the upper hand in preparation. When we know what’s coming next, we can set about fighting back, or at least figuring out how to get out of it.
There will also be fewer biotech companies doing more focused work. As inflation rises and government funding per citizen decreases, government funding available for research may decrease. An increase in mergers and acquisitions in the market also means more consolidation.
Right now, there are about 500 publicly traded biotech companies, and that could be squeezed down to the top 300 companies that have proven they can deliver reimbursable products and measurable outcomes. There are now 50 of the largest pharmaceutical companies that could be reduced to 35. Survivors will be fewer in number, but stronger and more focused.
As AI becomes more focused and efficient, and the pharmaceutical and biotech industries consolidate to survive, it is also important to consider and reflect on the success of the pandemic.
Overall, we are moving towards a revolution in the biotech industry. We have the tools and experience, collaborative capabilities and evidence that we can use our combined intelligence to solve global problems. However, as we join forces to fight disease and microbes, it is vital that we do not forget our humanity.
Ksenia Zvezdina, Getty Images
