The biotechnology segment in the global life sciences industry continues to grow at a rapid pace due to technological advancements and availability of low-cost biosimilar drugs. Increased popularity and preference for branded biotechnology/biosimilar drugs is because of their purity and ability to cure many chronic diseases for which pharmaceutical medicines have proved to be ineffective. Increased income levels and rising urbanization in emerging markets has provided further boost and increase in demand to these innovative biotechnology/biosimilar products.
Rapid growth of biotechnology segment has resulted in an increase in competition too, with more players entering the market than ever. As a result, the manufacturers now face the pressure to stay competitive. In order to maintain the competitive advantage, biotechnology manufacturers are pursuing ways to deliver these drugs at an affordable price but without compromising on its safety and quality. The challenge confronting this segment is stringent regulatory compliances and safety requirements. Other challenges include need of shortening the product development and production time. Production of biosimilar/biotechnological drugs is a complex process and involves use of animal and bacterial cells. Drug yield is dependent on their multiplication time which in many cases takes days/weeks or even months.
To deal with the above issues effectively, the manufacturers are turning towards technology and collaborating with IT firms who can provide complete solution specific to their requirements. One such strategic partner, who understands the complex needs of this industry and ensures that the companies have no bumpy rides in their growth story, is BatchMaster ERP for Biotechnology. It has been designed specifically keeping in mind needs of this complex segment and obligatory regulatory compliance requirements which include adherence to cGMP requirements. BatchMaster can very easily map biotech companies’ basic as well as complex business processes like formulation, batch management, supplier verification, generation of BMR etc. The software also provides real-time information of all the departments which helps manufacturers to streamline their entire operations and take timely proactive informed decisions to outlast the competition.