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Life sciences & health care
Life sciences are about the structure and organisation of living organisms, their life processes and their relationships to each other and their environment. This field encompasses companies in the areas of biotechnology, pharmaceuticals, biomedical technologies, life systems technologies, food processing as well as environmental and biomedical devices.
Health care is the treatment and management of illness, and the preservation of health through services offered by medical, dental, complementary and alternative medicine, pharmaceutical, nursing, and related health professions.
Industry challenges
Life sciences and health care organisations are experiencing tremendous pressures in today’s market environment, characterised by evolving regulations, shifting demographics, rising patient expectations and a quest for improved efficiencies. Key challenges foreseen in the coming years are notably the following:
- Shifting demographics, resulting in ageing populations
- Consumerism and rising cost of health care
- Increases in public health spending and changes in finance and reimbursement policies
- Increasing influence of emerging countries
- Convergence of different life sciences and health care sectors
- Difficulties to attract and retain skilled workforces
