Life Science Wrapped:Looking back on 2023
Brace yourselves. It’s time for the unavoidable bombardment of statistics from everyone’s Spotify wrapped for the past year. 1,234 minutes listening to Taylor Swift? Excessive – but I respect the commitment. Like the giant Santa that makes its grand appearance at my local garden centre on December 1st, this is my yearly sign that Christmas, and thus a new year, is on the horizon.
Although I do see being in the top 5% of listeners for my favourite podcast as a great personal achievement. It does pale in comparison to everything that was achieved within the life science industry this year alone.
So, rather than giving you a run-down of my audio achievements for 2023, here’s a breakdown of the last year within the life science industry.
COVID-19 & Remote Medical Care
I know. We’re sick of hearing about it. But it can’t be denied that the industry was still reeling from the impact of the pandemic at the start of 2023. From a funding standpoint, we saw a nervous market at the start of the year. The purse strings were not just tight, but seemingly double-knotted for good measure. However, as we come to the end of 2023, we’ve seen some exciting investments in the life science sector. Including £60 million from the UK government for Phase 2 of the Life Science Innovative Manufacturing Fund (LSIMF) that shows great promise for 2024!
On another note, the pandemic forced remote medical support to be fast-tracked – leading to some impressive developments in decentralised treatment and clinical trials. This gives so many more people access to healthcare as well as allowing for more diversity in trial participants thanks to the lack of travel restraints.
In scientific terms, biotechnology is killing it this year! Technologies like CRISPR-Cas9 have revolutionised the field. Most notable in 2023 is the use of gene editing to treat genetic disorders, such as sickle cell anaemia and cystic fibrosis. The impact these advancements will have on patients living with these conditions is priceless.
Advancements in Personalised Medicine
Gene therapy continues to lead the charge for 2023 with further impressive advancements within this space in the form of personalised medicine. This year saw several newsworthy developments, including new diagnostic tools and the approval of personalised cancer therapies. It’s hard to fathom the number of lives that might be saved thanks to this targeted approach to treatment!
Changes to Regulations
To paraphrase a wise fictional character, with great change comes great guidelines. As both the Pharma and MedTech space continue to strive towards the next great medical accomplishment. The regulatory landscape ensures that legislation accounts for these developments. Significant changes that we saw in 2023 include the new Medical Devices Regulation (MDR) and the In Vitro Diagnostic Medical Devices Regulation (IVDR) to regulate new products within medical devices and diagnostics.
I could go on. Quite frankly, I’ve barely scratched the surface of the wonderful things that have taken place within this amazing sector we work within. But by the time I’d finished highlighting everything that has happened in 2023, there would be a hundred more noteworthy advancements to report on. I’m excited to see what we will have achieved by next year’s wrap-up.