The pharmaceuticals and life sciences industry is evolving rapidly. At the center of this industry shift is the convergence of the life and physical sciences with engineering, computer science and biotechnology. attracting a new breed of worker to the industry and dramatically changing the type and processes of work.
Across Asia Pacific, this transformation is playing out against a backdrop of increased competition from generic rivals, funding challenges for small market targeted smart drugs and the decline of rainmaker blockbuster drugs. Innovations such as inserting miniature laboratories into the body providing real time data collection via cloud computing are driving major breakthroughs in the development of new drugs.
These changes demand an urgent rethink of traditional workplace and real estate solutions – one that CBRE Research foresees will drive the creation of new kinds of workspaces that bring together diverse fields and expertise as pharmaceuticals companies partner with start-ups, universities and even their competitors. Key trends include:
- Pharmaceuticals companies investing huge amounts of capital in research and development and therefore the cost of real estate is not a major concern as it appears far cheaper by comparison.
- Laboratories will be smaller and require people to spend less time in them. Robotics and artificial intelligence will support 24/7 laboratory operations while cloud laboratories can be separated from offices and shared with others.
- The development of workplaces that support physical and virtual collaboration and the remote operation of laboratories and technology will result in the decline of traditional laboratories.