Life Sciences & Pharma
The convergence of breakthrough innovations, digital advancements and new business models is opening up new opportunities for players across the life sciences sector. This increasingly competitive landscape also raises new challenges, including increased pricing pressure, uncertain market access dynamics, evolving consumer behavior and disruption from non-traditional players. These trends are forcing life sciences companies to think strategically about which avenues of growth to explore.
Countries around the world are facing common challenges to their healthcare systems: aging populations, increase in chronic disease, costs outpacing economic growth, consumer access to information, and technological innovation. Healthcare systems, payers, providers, solutions organizations, distributors, and healthcare investors are all pursuing improved performance through new market opportunities, improved agility, higher quality outcomes at lower costs and increasing profitability.
Major disruption is occurring throughout the retail sector, caused by increasing ecommerce penetration, proliferation of direct-to-consumer strategies, demographic shifts, highly empowered consumers, rapidly evolving technologies, and restructuring of major legacy channel segments. Achieving growth is a challenge for many, and for some, long-term viability is in question. Retailers need to evaluate their value propositions and prioritize the right strategies required for future success.
Industrial companies face a challenging environment that is forcing senior executives to optimize their cost base, re-examine their business models, build new capabilities and manage in a market that is increasingly impacted by new technologies. To respond, they must build new capabilities, revamp existing sales strategies, adopt new technologies, improve competitive intelligence, develop more responsive organizational structures, and find ways to expand into new markets.