Demographic and lifestyle changes keep driving healthcare and the life sciences industry forward, but ever-changing political and regulatory developments cast a shadow of uncertainty. As consumers demand more customized, comprehensive, and technology-fueled products and services, the life sciences industry must cope with the competing priorities of research-driven innovation and stringent cost/price control. As a result, industry leaders continue to explore new ways of doing business.
Global R&D spending in the life sciences industry is expected to continue to grow, with technology as a key driver. R&D efforts are focused on attacking diseases at the molecular and sub-molecular level, and on leveraging technology, engineering, and other disciplines to discover new treatments, products, and services to support patients. Innovation is also happening in the processes by which life science products are investigated, developed, and brought to market.
Heightened demand for higher-level and more complex skills, coupled with intense competition from tech companies, is causing life sciences companies to take a more open and fluid approach to talent, with greater utilization of external and independent workers and partners.
Life Sciences & Healthcare: By the Numbers
Top two areas in which life sciences executives expect technologies to have a significant impact:
Top two areas in which life sciences executives expect technologies to have a significant impact:
US Life Sciences Projected Employment Growth by Sector, 2016-2026
US Life Sciences Projected Employment Growth by Sector, 2016-2026
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