2009 Industry Outlook: Health SciencesA perspective for the life sciences, health care provider and health plan industries |
Two equivalent forces – internal and external – are expected to generate both challenges and opportunities for the health sciences industry in 2009. From an internal perspective, escalating health care costs will continue to be problematic for employers and individuals: Health debt is responsible for half of involuntary bankruptcies, and 1.5 million individuals are added to the ranks of the uninsured annually as employers drop health coverage. External drivers will be evidenced by continued economic distress, government policy changes emanating from the 2008 elections, increased demands for transparency, and the integration of nontraditional players into the health care ecosystem. Now, more than ever, stakeholders in the industry’s three major subsectors – health care providers, health plans and life sciences companies – must balance short-term needs to control costs, fill product pipelines and connect with consumers with the longer-term imperative to radically transform expensive, cumbersome and inefficient systems that threaten the sustainability of their organizations.
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2009 Industry Outlook: Health Sciences
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