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2023 Global Life Sciences Outlook发表时间:2024-03-19 21:45 The underlying growth of the life sciences sector—pharmaceutical, biotech, and medtech—is strong at a combined US$2.83T. Life sciences companies are continuing this strong growth, but still face significant challenges, such as the increasingly competitive market, the changing and evolving regulatory landscape, increasing pricing and reimbursement pressures, and growing demands from patients and health care providers for more effective medications and experiences as they manage health and well-being. This is all happening in the face of broader geopolitical and economic uncertainty. In this year’s outlook, we explore more deeply the seven critical areas we see the life sciences sector investing for change: evolving portfolios and value creation; research and development; supply chain; pricing and reimbursement; patient centricity; digital transformation; and health equity. In some of these areas, we see and anticipate real advancement. At the same time, in other areas, we acknowledge and anticipate change may grind against the gears of our “new normal”—one where we continue to live and manage COVID-19. The following are the key findings from the report: 1. Evolving portfolios and value creationThe key portfolio decisions that life sciences companies are contemplating today come at a time of contrasts. We see a breadth of models and portfolio choices including the development of potential “blockbuster” medicines, the pursuit of next generation therapies, and a focus on diversification. These choices are being fueled by M&A as companies seek to put their capital to work. Additionally, with higher interest rates and lower valuations, medtech companies are mitigating uncertainty in the sector by divesting low-growth and low-margin assets. By doing so, medtech companies can free up capital, improving their financial profiles in the hopes of becoming more attractive to strategic acquirers.
Figure 1 — A Typical Cell and Gene Therapies (CGT) Value Chain
2. R&DR&D innovation is one of the top actions that 91% of life sciences organizations plan to invest in more heavily during 2023, according to a Deloitte survey. Life sciences companies will continue to build on advances such as translational medicine, big data analytics, and digital innovations in research and development. And other advanced technologies will emerge. Life sciences R&D organizations are under increasing pressure to generate sustainable returns on investment given shifts in the market, regulation, and reimbursement practices, hence, companies need require reinventing and realigning traditional R&D models.
3. Supply chain again a CEO agendaAmid the volatility of the pandemic, geopolitical unrest affecting shipping and logistics, and inflation at a four-decade high, biotechnology and pharmaceutical companies are shifting away from planning for inflexible accuracy to designing agile supply chains that can bend and adapt quickly to changing conditions – and multiple scenarios. To better understand vulnerabilities in their supply chains, life sciences companies are exploring an array of practices to enable proactive scenario planning and risk mitigation.
4. Pricing and reimbursementHistoric global shifts in drug pricing and pharmaceutical reimbursement policies are colliding with intensifying competition. Life sciences companies are responding to these commercial pressures through dynamic pricing techniques and portfolio management approaches that account for a growing number of specialized treatments for a range of ailments. Companies require reposition pricing in an increasingly competitive landscape. However, in the global market, there’s also a recognition of the increasing pressure on pricing and equitable access to treatments.
5. Patient centricityThree-fourths of people around the world now have experience with at-home tests for a global virus, and companies are increasingly able to access, interpret, and act on the billions of patient data points. And patient expectations and their ability to voice them have risen. The conditions for true(r) patient centricity are here. Figure 2: Pharma companies are now facing up to the need to frame their patient-centric strategies for operating in a new customer-centered, digital ecosystem. Source: Deloitte analysis
6. Digital transformationCOVID-19 has had a profound impact on the life sciences sector, including the digital transformation. During the pandemic, cloud technologies and platforms gave organizations the scale and flexibility to enable employees to work remotely and collaborate. Cloud technology also helped reduce costs, improve time-to-discovery and insight, and collect data to improve manufacturing and supply chain operations. Companies that continue to embrace innovation will gain a competitive advantage in the coming years.
7. Elevating health equityInequities in health systems are both broad—including significant variations in global care delivery resources, investment, and access to care—and more localized—such as unconscious bias, a lack of trust, and language barriers. Health inequities strain workforces and productivity, create supply-chain challenges, and influence consumers’ purchasing decisions. They cost life sciences companies trillions of dollars in lost productivity annually. By addressing health inequities, life sciences leaders can boost productivity, increase market opportunities, generate growth, and improve their competitive advantage.
Throughout the global life sciences industry, it is critical to focus on these seven critical areas. We hope that the Global Life Sciences Industry Outlook 2023 will inspire industry players to fully grasp the industry trends, innovate and collaborate for tomorrow! |
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