How is the life sciences industry responding to COVID-19?
What is striking is quite how many in the industry - 47% of respondents - are working on the development of diagnostics, vaccination or treatment of COVID-19. This number is highest for North American respondents (49%) and lowest for Asian (31%). Whilst, a higher number (28%) are working on treatments than anything else.
When it comes to testing of COVID-19, almost half (46%) of respondents think antibody based diagnostic testing is the most promising approach. This is hardly unsurprising with a number of tests - with varying degrees of reliability - already available that rely on antibody testing.
Globally, 80% of respondents predict a vaccine will be approved in their region within 18 months, with an average prediction of almost 14 months. However, those based in Asia tend to the extremes as 14% think a vaccine will be approved with 6 months, and conversely 8% think it will be longer than 24 months.
Respondents unsurprisingly think that it will take longer for a vaccine to made widely available in their region after it gains approval, though possibly not by as much as it may be assumed. Whilst 14 months was the average response for when a vaccine will be approved, the average for when it will be made widely available is just under 18 months.
Three challenges to producing a large scale vaccine stand out for respondents. The safety of any vaccine is the biggest concern (28%), and manufacturing on a large enough scale (23%) is not far behind. However, perhaps surprisingly given the number of studies already underway, finding an effective vaccine is seen as the second biggest challenge (27%).
Respondents are more optimistic about the speed with which therapeutics will be made available to treat COVID-19 or manage symptoms, with 62% predicting it will be within 1-12 months. Whilst Europe and North American respondents were closely matched, those based in Asia thought it far less likely treatment would be available within 6 months.
Just 9% of respondents think that treatment will be exclusively from newly developed drugs, with the vast majority predicting it will come either from drugs already on the market (38%) or else a combination of both (53%).
As with diagnostic testing, respondents believe antibody therapeutics to hold the most promise for treatment of COVID-19, with a quarter of respondents choosing them over small molecule drugs (23%) and combination therapies (18%).