GLOBAL LIFE SCIENCES TRENDS
Continued Mergers and Acquisitions Among Companies in the Industry / Transitioning to Digital Healthcare / Increasingly Rigid Regulatory Environment / Developments in Personalized Medicine
CONTINUED MERGERS AND ACQUISITIONS AMONG COMPANIES IN THE INDUSTRY
There is a significant wave of mergers and acquisitions among companies in the life sciences industry that is shaping the industry and is expected to continue to do so in the future. Mergers and acquisitions are not limited to entire companies, and in recent years, leading companies in the field have purchased divisions within other companies.
TRANSITIONING TO DIGITAL HEALTHCARE
Transitioning to digital healthcare solutions reduces costs for healthcare providers, improves health-related objectives among patients, and increases the revenue of companies in the life sciences industry. The digital healthcare segment is expected to lead a revolution in life sciences in the coming years, especially due to the many possibilities it presents for the industry. These include smart monitoring devices, remote healthcare technology (TeleHealth), electronic health records, and more.
INCREASINGLY RIGID REGULATORY ENVIRONMENT
The regulatory environment in the life sciences industry has become increasingly rigid in recent years. Regulatory policies are constantly changing and tend to place strict restrictions on companies, thus increasing product development costs. This presents challenges for new and existing companies in the industry.
DEVELOPMENTS IN PERSONALIZED MEDICINE
As genetic sequencing technologies develop and knowledge on human genome function expands, companies are likely to develop products and drugs that are customized to the patient’s specific illness or to the patient’s individual genome
CHANGES IN PRICING MECHANISMS
Governments and insurance companies are striving to reduce healthcare costs and transition to value-based payment systems. This puts pressure on life sciences companies to reduce prices, prove the efficiency of their products compared to other companies, and modify their pricing mechanisms.
