The Life Sciences industry operates in a shifting global ecosystem. Innovation – powered by data and technology – is essential to drive progress and bring medical breakthroughs to patients around the world.
Disruptive market entrants, niche startups and major global actors all have their part to play in delivering value for all stakeholders. But what does that mean in a global landscape shaped by demographic shifts, regulatory change, cost pressure, privacy concerns, breakthrough medical advances, evolving commercial models and growing demand? KPMG’s global network of Life Sciences professionals understand the megatrends affecting the industry. We draw on our experience and expertise to guide leaders in the Life Sciences industry and empower better business.
Key Drivers of Change in Life Sciences
Business leaders in the Life Sciences industry have to navigate various disruptive megatrends. Remaining agile and resilient is key to delivering innovative solutions that harness the power of emerging technology and medical breakthroughs.
Rising cost of healthcare
Although private and public sectors are spending more and more on healthcare around the world, rising costs can hinder patients’ access to treatments. From collaboration and resource sharing to outcome-based payment models, new approaches are emerging to reign in costs and improve care.
Aging populations are pushing up healthcare costs, while chronic disease is affecting ever younger cohorts. Demographic changes also affect the labor market in the international Life Sciences ecosystem. These diverse factors need to be considered to create forward-looking strategies.
Increased regulatory pressures
Life Sciences organizations operate in a complex global environment – but are subject to various regulatory regimes in each country or region of operation. Anticipating changes in legislation can help cut compliance costs and optimize strategy in light of the regulatory environment.
Negative return on R&D
Research and development is a costly and time-consuming business, yet comes with no guarantee of future success. Advanced data-driven technology can accelerate R&D and help focus resources on the most promising candidates, while novel alliances improve outcomes for all stakeholders.
KPMG offers numerous publications that provide answers to important questions you may have.
- Driving value from genomics
- Evolution of life sciences in a post-pandemic ecosystem (PDF)
- Planting the seeds of growth (PDF)
- Investing in patient safety (PDF)
- Life Sciences Compliance Performance (PDF)
- The healthcare diagnostics value game (PDF)
- The Life Sciences asset swap opportunity (PDF)
- Are you prepared for EU MDR? (PDF)
Feel free to contact us. We will gladly answer any further questions you may have.