|Global Life Sciences Industry Outlook, 2018|
|Global Life Sciences Industry to Reach $1.5 T by 2022, Driven by Innovative Google, Amazon, Facebook, Apple (GAFA) Partnerships and R&D IT Investments|
The global life sciences industry is onto a rocking start with the surge in CEO confidence from US tax reforms, rollicking equity markets and strengthening the global economy. Healthcare digitization, democratization creating explosion in patient data, emergence of value-based reimbursement models, and healthcare consumerism shifting the risk from payers to providers have provided a strong impetus to the growth of the life sciences industry. The convergence of biopharmaceuticals, drug delivery devices, and companion diagnostics enabled by the digital connectivity is driving regulatory and commercial changes in many exciting ways for the industry. With the synergistic effect of advanced technologies, such as Artificial Intelligence, Big Data analytics, and cloud computing on the traditional life sciences industry, growth could be even faster in 2018. The paradox of the new growth rate is that its taking place even as the industry is grappling with the larger question – when will precision healthcare become a reality?
Key Issues Addressed