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 the purpose of this research is to explore the universe of academic literature published from 1976 to 2013 that has addressed business model relevant factors and dynamics in the biopharmaceutical industry and inductively mine this literature for insights into the opportunities for business model innovation.  After identifying and reviewing 305 relevant publications, 12 categories were developed and key dynamics discussed.  The author finds that opportunities for business model innovation lie in five key areas, External Orientation, Learning Capabilities, Cluster Participation, Qualified Business Management Team and Organization Controls.  This research provides not only insight into opportunities for business model innovation specific to this industry but also can be used independently as a valuable reference tool for similar research.