Published on : Apr 13, 2016
The scientific study of all things living has been done by man since ages past. From microorganisms to plants, animals, and human beings, life sciences have allowed us to open doors in new areas of exploring everything there is to know about life and how to change it. From a theoretical point of view, life sciences is primarily biological studies, surrounded by interdisciplinary fields such as biotechnology and molecular biology. It also involves other specific forms of biological studies such as zoology and botany.
High Costs Compel Companies to Ship Processes Outside
Most of the key players in the global market for life sciences are from the developed economies of North America and Europe, with a majority of activity being conducted in the U.S. While this gives the U.S. a national advantage, the medical industries are currently in a financial quandary owing to the steeply increasing prices associated with healthcare. The life sciences market is no exception to this, as high costs and regulatory pressure have made life sciences companies look to something that was originally an IT phenomenon: outsourcing. The increasing scope opened up for developed nations by globalization and outsourcing has allowed multiple industry verticals to cut down costs, space, team sizes, and most importantly, conduct trials and procedures while still complying to government restrictions.
Modern Life Sciences Fields
Apart from the outsourcing of trials and drug studies, the global market for life sciences has also given rise to newer branches in the recent past. One such branch is biocomputers, which involves the storing, retrieving, and processing of information using biological molecules that are made of DNA and proteins. This has also given birth to the new branch of nanobiotechnology.
Numerous life sciences companies are showing progress due to recent innovations as well as outsourcing of clinical trials. One of the most successful life sciences companies, Edwards Lifesciences Corp., has been showing highly positive stocks that would make most investors satisfied. The company is doing so through a strengthening economy and a large list of devices and therapies under its belt.