Health industry

Overview

Growing health awareness, want to control and monitor is increasingly present in the health industry. With big data, artificial intelligence and analytics, knowing and predicting the market segments to tackle is easier than ever. Health is becoming monetised and personalised, the question of trust, responsibility and authority in the information age is critical.

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Details

Socio-cultural trends

Empowered and informed customers, interested in preventive care and monitoring, side effects and scientific approach for medicine
Aging population, Silver economy and rising baby boomer population increases the older customer base
Move from Therapeutical to Preventive choices prolongs the period of targeting the customers in pharmaceutical cycle
Growth on emerging market
Growing health awareness and want of control and monitoring of health

Technological trends

With convergence of IT and healthcare, new segments as e-patients arise and new approaches as gamification and 3D printing disrupt the industry
Data availability and accessibility increases the consumer data analytics power (Big data; Artificial Intelligence and Analytics, Digitisation of data)
Convergence of IT and healthcare, E-patients, Genomics, 3-D printing, Biosimilars, Nano robots, Genomics
mHealth: There is rising optimism about the potential of mobile health (mHealth) to deliver cost-effective care. As with any new technology, however, evaluation can help to ensure that mHealth achieves its potential.
Increasing focus on advanced technologies
Remote Monitoring using technology - Wearables and tracking systems
Gamification/VR
Technology assisted services such as drug dispensing is on the rise

Economical trends

Increased spending on healthcare: high net worth growth, higher purchasing power and interest in higher-end medicines
Globalisation opens up new market for drug consumption and new market segments
Glocal supply chains, Green systems, IPR for compounds or synthesis techniques
Drug Pricing and Spending: Conversations on how to manage drug prices are becoming more commonplace, with a particular focus on ensuring that drug prices reflect the value of treatment.

Environmental trends

Sustainability awareness and biodegradable ingredient requirements
More interest on chemicals used in the process of development of drug
Eco friendly ingredient preference

Political trends

Regulatory challenges and varying standards across countries slows the development of new products
Government Policies and Government payers
Accelerated Drug Approvals: Regulatory efforts continue to speed the approval of new drugs, especially in areas of unmet medical need. Faster market entry may deliver important health benefit, yet this must be traded-off against any reduction in safety.
De-globalisation
Non-tariff barriers
Stricter regulations

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