Importance of Biotechnology in Pharmaceutical Industry
Biotechnology is the science which combines biology with technology that is being used rampantly in pharmaceutical sector. This science has proved to be a boon especially in manufacturing of vaccinations and genetic testing.
Manufacturing of vaccines: Every pharmaceutical company aims at producing products that can help tackle severe health problems and benefit the society in a major way. With the increase in population, changing lifestyles and economies the entire world is facing health problems and diseases that are tough to cure. Biotechnology has successfully found cure for numerous diseases including cardiovascular disorders, arthritis, Hepatitis B, bone fractures etc. By investing heavily in biotechnological research and testing many pharma manufacturers have been able to find solutions to diseases that at a point of time were considered to be incurable. This science thus has helped in busting myths and scientists even now are studying this science and the benefits it can bring to us.
Genetic testing: Biotechnology has made genetic testing a reality. Such testing has made it possible for medical science to unlock many mysteries of the human body. For instance genetic testing can be used for forensic tests, determining the sex of to be born child, spotting early symptoms of cancer in individuals and detecting other possible deficiencies that otherwise are hard to detect. A biotechnology company that deals in such kinds of testing has great demand in the market currently and their growth prospectuses too are bright. The amount of manpower and finances spent on the research and development of genetic testing is enormous and the end results they come up with take medical sciences to an altogether different level.
Biotechnology evolved in early 90s worldwide and within a span of almost 2 decades this science has changed the way a pharmaceutical company functions. Bio-tech makes use of molecule products and concepts which is also the prerequisite of pharma manufacturing companies. The production costs of bio-tech based products are cheaper and this is a major reason why the pharma industry embraced this technology and has made it an indispensable part of its own self. Plus pharmaceutical sector is service oriented where the safety of the end users has to be given prime importance. Minutest of errors in a formulation can lead to mishaps which later cannot be corrected. Biotechnology is reliable, safe and result oriented which is why it was thoughtfully adopted by pharmaceutical manufacturers across the globe.
Dynamism and flexibility is essential for every industry. Adopting new technologies and upgrading the old ones is the only way businesses can survive. Pharmaceutical industry has always been aggressive in its approach towards new developments and technologies and biotechnology in every sense falls in the same category. Pharmacy and biotechnology both have together created path breaking solutions and the future holds even more.