Future of Health

How to transform BioPharma for the upcoming LIFEcare system

In the past years, healthcare systems and the pharmaceutical industry have undergone tremendous changes given technological, regulatory and socioeconomic disruptions. Covid-19 has further intensified and catalyzed these changes in healthcare systems and healthcare delivery. Among others, regulators paved the way for more dynamic and faster decision-making, approved novel technologies including digital health solutions and created new reimbursement pathways. In parallel, medical and biological research has made breakthroughs with emerging technologies including in-silico protein folding prediction, novel cell therapies and other treatment platforms. With those trends materializing, borders between industries continue to blur. This convergence of healthcare, technology and retail and consumer industries will lead to what we call the LIFEcare system. The critical question for each player in that new normal will be: Are you prepared and what’s your right to be successful in this changing future?

Our 2021 global Future of Health study, based on interviews with and survey responses from 150 senior healthcare executives, confirms our belief that this acceleration has only just begun. Over the next decade, the transformation of healthcare will in turn shape the road to success for BioPharma companies in an unprecedented way.

Based on the survey findings and our engagement with clients and partners, we expect the emergence of what we call the LIFEcare system, characterized by a convergence of wellcare and disease care systems. Overall, more than 75% of healthcare executives agree that LIFEcare systems will be widespread by 2035, especially in cardiovascular and metabolic diseases, oncology and neurology.

This adjustment will involve significant disruption of the BioPharma value chain. At the same time, we forecast that the creation of new opportunities in areas such as preventative care and personalized nutrition will lead to a two to threefold increase in the global wellcare, creating a total value pool of 2.8 to 3.5 trillion USD by 2030.

By PwC 

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