Business model innovation opportunities for the biopharmaceutical industry: A systematic review

Abstract

Research on business model innovation for the biopharmaceutical industry continues to be an area of high global interest due to the combination of industry innovation challenges and global macroeconomic pressures. Through the use of a systematic literature review, this research explores academic literature published from 1976 to 2013 that has addressed business model relevant factors and dynamics in the biopharmaceutical industry. 305 relevant publications were identifed, analyzed, and inductively categorized based on the similarity of their conversations into twelve categories. The authors fnd that opportunities for business model innovation in the biopharmaceutical industry lie in fve key areas: External Orientation, Learning Capabilities, Cluster Participation, Qualifed Business Management Team and Organization Controls. This research provides not only insight into opportunities for business model innovation specifc to this industry but also can be used independently as a valuable reference tool for similar research.