Key Insights
Operating with biotech software offers numerous advantages, including a fully digital workflow, automation, optimized business processes, improved data management, and enhanced data security.
The global biotech market reached $1.55 trillion in 2023 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 13.96% from 2024 to 2030.
Custom biotechnology software solutions can provide the competitive edge your business needs to excel in today’s market.
Biotechnology software promises significant advancements for the medical sector, necessitating modern tech solutions to stay competitive.
From a business perspective, biotech software must efficiently manage resources, automate tasks, uphold high data security standards, and comply with FDA requirements and regulations like HIPAA.
Levisoft stands among the top healthcare developers, possessing the expertise to build biotech software. Our team has delivered multiple biotech projects, diving deep into the domain's specifics and mastering relevant technical skills.
In this article, we will explore the role of software in the growth of biotech companies, delve into technological specifics, and share our successful case studies.
Market Dynamics and Technological Advancements
The growing popularity of biomedical products is driven by factors such as the rise of chronic diseases, advancements in molecular biology, and streamlined approval procedures. Currently, four out of ten new drugs are based on biotechnology and cutting-edge healthcare technology trends.
To develop sophisticated biotech software, medical institutions leverage the following technologies:
- Personalized medicine tailored to individual genetic profiles.
- Gene editing and CRISPR for addressing genetic disorders.
- Telemedicine and digital health for remote healthcare services.
- Immunotherapy to boost the immune system against cancer.
- AI and Big Data to enhance diagnostics, treatment planning, and drug discovery.
With the global biotech market projected to grow significantly, startups and established companies are increasingly entering the field. For example, Pfizer and BioNTech's collaboration led to the first FDA-approved COVID-19 vaccine, and Remdesivir was approved for treating young children.
The market democratization has paved the way for biotech startups to secure substantial financing. For instance, a San Diego-based startup raised $140 million for research on genetically modified immune cells capable of neutralizing cancer.
Benefits of Biotech Software Development
The healthcare industry is undergoing a digital transformation, making it crucial for both startups and established companies to invest in top-notch software. Here’s what you can achieve:
Embrace Digitalization:
Integrate EMR (Electronic Medical Records), EHR (Electronic Health Records), HMS (Hospital Management Systems), and FHIR data exchange standards to streamline the biotechnology segment.
Automate Tasks:
Identify and automate repetitive tasks to boost productivity and efficiency.
Leverage AI and ML:
Utilize AI and ML to handle the massive data produced by biotech research and clinical trials, particularly in bioimaging, DNA sequencing, and protein synthesis.
Optimize Business Processes:
Streamline financial operations, manage document flow, and enhance material and quality control with modern software.
Ensure Compliance:
Focus on business goals while adhering to FDA and HHS standards for product creation.
Protect Data:
Ensure robust data protection for medical research data and personal information collected during trials and sales.
Main Types of Biotechnology Software
Depending on business models and areas of biotechnology, companies have varying software needs. Here are some common biotech solutions:
Pharmaceutical Software and LIS:
A Laboratory Information System (LIS) helps manage samples, tools, people, and processes, facilitating dynamic lab management. Pharmaceutical software supports drug development and manufacturing processes.
Biotech ERP Systems:
An Enterprise Resource Planning (ERP) system synchronizes multiple business processes, providing visibility of resources, optimizing budgets, and streamlining supply chains.
Biotech CRM & CTMS:
Customer Relationship Management (CRM) systems paired with Clinical Trial Management Systems (CTMS) improve client communication, compliance, and trial efficiency.
Cloud-Based Electronic Laboratory Notebooks (ELN):
ELNs replace traditional paper notebooks, enhancing data integrity, collaboration, and research efficiency, particularly for distributed teams.
Bioinformatics and Data Visualization Software:
Bioinformatics software analyzes and interprets biological data, utilizing AI and ML for better accuracy in processing data from microscopy, spectroscopy, and other imaging techniques.
Technologies Impacting Biotech Software Development
Upgrading physical components like CPUs and memory isn't enough; the paradigm shift to cloud computing, microservices, low-code, and SaaS solutions drives progress. Outsourcing biotech software development allows businesses to focus on core competencies while leveraging advanced technologies.
Cloud Computing:
Offers almost unlimited storage and processing capabilities and uses modular, pre-set approaches to speed up development.
Genomic Research: Cloud platforms enable collaborative studies on genetic disorders, with companies like Seven Bridges Genomics providing scalable genomic data analysis.
Big Data:
Processes vast amounts of biological data for meaningful insights, optimizing drug development and improving clinical outcomes.
Artificial Intelligence and Machine Learning:
AI and ML are indispensable for screening drugs, analyzing visual data, and building prediction models, accelerating analysis and reducing human error.
Internet of Things (IoT):
Smart medical sensors and lab equipment provide automated readings and measurements, enhancing efficiency and reducing errors.
Building Biotech Software: Development Process
Here’s a step-by-step guide to biotech software development:
1. Validate Your Idea:
Conduct market research to ensure demand and build confidence with stakeholders.
2. Create a Business Plan:
Detail goals, success metrics, and resource allocations, and establish trust with stakeholders.
3. Build Your Project Team:
Choose a skilled development team through outsourcing or staff augmentation.
4. Plan for Compatibility and Compliance:
Adopt standards like HL7 v.2 or FHIR and ensure regulatory compliance with HIPAA and FDA requirements.
5. Begin Development:
Finalize requirements and timelines before starting coding.
6. Create a Prototype or MVP:
Test the concept and gather feedback for refinement.
7. Design Architecture:
Define the internal structure, including cloud storage and tech stack choices.
8. Design UX/UI: Prioritize user experience and interface design with iterative testing.
9. Code and Test Continuously:
Implement agile methodologies for quick iterations and adjustments.
10. Deploy and Launch:
Prepare for the initial setup and user onboarding, and consider a marketing campaign for commercial products.
Why Choose Levisoft?
Founded in 2016, Levisoft has a diverse portfolio, working with startups and established companies across various industries. Our expertise in healthcare and biotechnology is noteworthy.
Recent Biotech Projects:
- Developed a Hospital data processing solution using cloud technologies, AI, and ML, reducing launch time by 30% and increasing data processing accuracy by 40%.
- Created a CMMS for remotely managing precision equipment, boosting sales by 65% and improving heavy load capacity by 57%.
Levisoft is ready to help your business reach its full potential in the biotech niche, offering consulting services and full-cycle development.
The Bottom Line
Biomedical innovation aims to make the world a better place, relying on talented researchers and the right technological tools. Custom biotech software tailored to your business needs is essential for success.
With over 5 years of experience in construction, technology and logistics technology, Levisoft can help you develop software solutions, from kiosk software to cloud systems. Contact us to discuss your biotech software needs and bring your ideas to life.
Sources of Information:
- Global Biotechnology Market Size — Grand View Research https://www.grandviewresearch.com/industry-analysis/biotechnology-market
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