Outlook 2023

Growth over the last two years reflects new market dynamics and a growing connection between beauty and wellness, in addition to a return to sales following pandemic-related shutdowns, Ulta Beauty leaders said in a fourth-quarter sales and earnings presentation.

The past couple of years have generated important growth for the pharma industry thanks to its drugs and vaccines for COVID-19. But with the IRA, high inflation, rising interest rates and chilly public markets, biopharma faces challenges this year. Here, we summarize key messages from In Vivo’s Outlook 2023.

Abbott Laboratories and Johnson & Johnson joined Medtronic in putting a clear distance between themselves and other global medtechs in the Top 10 by revenues for 2021. Post-COVID-19 procedure growth, and, for Abbott, a strong rebound in non-COVID diagnostic demand, were key drivers.  

The Scrip 100 universe gathers FY2021 financial performance data and compares the activities of the top 100 biopharma businesses, ranked by pharma sales.    

Pfizer catapulted back into the lead in the pharmaceutical rankings on the strength of COVID-19 revenues while BioNTech and Moderna both made the list for the first time.      

What will 2023 bring as the industry faces one of the toughest periods in the last decade? In Vivo asked three industry experts for their views.

The integration of smart connected care, broadening of diagnosis and therapy into new settings and improvement of chronic disease outcomes will continue to shape the market for devices and diagnostics companies for years to come. But there is also a maze of short-term macroeconomic issues for medtechs to work through.

Originally intended to increase medical device safety, the implementation of the EU’s medtech regulation was so hampered in 2022 that it had started to look as if the new regulations were a bigger potential threat to patients than any of the scandals leading to its more stringent requirements. With the European Commission’s latest plans to ease challenges around implementation, will 2023 be a more positive year for the EU medtech sector?  

The latest Generics Bulletin Top 50 ranking of global generics and biosimilars companies sees a new name in the top five amid transformations for some of the leading off-patent players. Meanwhile, a number of mid-level firms shift position and newcomers climb into the bottom of the table.  

Notable new entrants moved into the Asia 100 this year, with growth catalyzed by COVID-19 vaccines.