Ireland’s reputation as a major exporter of medicinal and pharmaceutical products is well deserved. However, the life-sciences industry has developed and diversified here in recent years.
Many facilities are no longer involved in large-scale manufacturing of simple small-molecule drugs and instead they are being dedicated to the manufacturing of complex therapeutic proteins or vaccines. Meanwhile, a new focus on digital health has also begun to be woven into the outputs of many life-sciences companies as the technology, medical technology and biopharmaceutical industries converge.
The growing trend away from “blockbuster” medicines to “niche busters” has continued in 2020 and presents both challenges and opportunities for the life-sciences sector, says Elaine Daly, partner and head of life sciences at Grant Thornton.
“Innovative approaches to medicine development such as advanced therapy medicinal products and targeted cancer therapeutics mark major progress in treatment options. However, the higher R&D [research and development] and manufacturing costs present a challenge in reimbursement and patient access, particularly as we enter the post-Covid-19 landscape. Global health systems are under huge financial pressure due to the impact of Covid-19 and this will impact on the ability to fund novel therapies,” she says.
Creative solutions to pricing and access will be required to meet patient needs while representing an acceptable return on investment for the life-sciences sector, she adds.
Manufacturing
The manufacturing of biologic therapies, such as those used in the treatment of cancer or autoimmune conditions, is a more complex process than the production of traditional pharmaceuticals and a significant investment is required to construct the facilities necessary for biologics production. Despite this, the number of biopharmaceutical manufacturing sites in Ireland has grown from just three in 2003 to 22 in 2019. Meanwhile, areas such as cell and gene therapy hold huge promise for the treatment of serious and rare diseases but their manufacture requires even more highly-specialised facilities.
Colin Kavanagh, partner and head of life sciences at Arthur Cox, says that over the past two or three years their life sciences team has been involved in a number of projects, culminating in redeveloping manufacturing plants for active pharmaceutical ingredients into state-of-the-art biotech facilities.
“It is great to see the innovation and value that is being created at work,” he says.
According to Sinéad Keogh, director of medtech and engineering at the Irish Business and Employers' Confederation (Ibec), Ireland has the potential to become a leader in the development of digital-health solutions, attracting international investment and growth in high-tech indigenous companies. The assertion is made as part of a new campaign, "where digital health thrives", launched jointly by Ibec's Irish Medtech Association, BioPharmaChem Ireland and Technology Ireland.
“Ireland’s unique ecosystem with leading digital health, medtech, pharma and tech companies can make us a global digital-health powerhouse. Digital health is the intersection of healthcare and technology and involves the innovative use of technology to deliver better patient care. The goal is to translate the benefits that technology has brought to other industries and bring them to healthcare, resulting in improved outcomes for patients and the providers of healthcare,” says Keogh.
Potential
Clearly, the potential is enormous; recent forecasts suggest the digital-health market is expected to increase by nearly six times by 2026 to almost $640 billion. Ireland already has nearly 200 companies delivering digital-health solutions such as telehealth, data analytics and cyber security, health information technology, connected medtech, mobile health and many more, says Keogh.
She points out that the pandemic has accelerated the adoption of telemedicine and remote monitoring, leading to a paradigm shift in how patients are treated in the setting of their choosing. Examples include technology that helps with medication adherence or the direct sharing of blood-pressure or glucose readings with the treating physician via sensors and wearables.
“Digital health is driving the personalisation of medicine and healthcare, putting the patient at the centre of their treatment in an informed and supported manner. Through connected devices, remote monitoring, apps and other technologies patients are empowered to manage their health and receive care in the right setting. Digital health is also supporting healthcare professionals by offering insights and providing them with new ways to support and treat patients. With data from connected devices, healthcare professionals can measure outcomes, personalise healthcare interventions and better connect with patients in multiple care settings.”