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Deloitte unveils provocative predictions for the healthcare and life sciences sectors in 2020

Zafar Anjum | Dec. 3, 2014
Deloitte UK’s Centre for Health Solutions has recently released ten provocative statements predicting the world of 2020 in a new report, Healthcare and Life Sciences Predictions 2020: A bold future?

The report also predicts that by 2020, the pharmaceutical industry will have made real inroads in repairing the negative corporate reputation that has plagued it over the last few decades. Tackling corporate reputation has been a top priority for all pharmaceutical companies, though for most, full rehabilitation will require a few more years.

"Pharmaceutical companies will have an increased challenge in Asia to meet the compliance standards. Asia is a complex and diverse region with language and cultural differences that make a one-size-fits-all regulatory compliance solution - like the ones adopted in West - difficult to achieve. Furthermore, many Asia countries are in early stages of healthcare system development. While resources are limited, there is a compelling need to raise the compliance standards," remarked Mohit Grover, Life Sciences & Health Care Leader for Deloitte Southeast Asia.

At the same time, emerging markets in Africa, Indonesia, Latin America, and Vietnam will be incubating new business models and leading in the development of drugs. Termed as "frugal innovation", Indonesia and Nigeria in particular will be at the forefront in addressing the sheer size, geographical spread and inherent challenges of young populations with high levels of unmet need, as well as prevalence of infectious diseases and poverty.

"The main challenges for emerging markets are access and affordability with low levels of public or insurance based funding and high levels of out of pocket expenditures. Governments in the region have responded by introducing new access and funding models," Mohit said. "Successes will have been where the pharmaceutical companies have become more inclusive and actively seek to understand and meet the needs of their stakeholders."

Ten predictions for 2020

External environment shaping predictions

1.      Health consumers in 2020: Informed and demanding patients are now partners in their own healthcare

2.      Healthcare delivery systems in 2020: The era of digitised medicine - new business models drive new ideas

3.      Wearables and mHealth applications in 2020: Measuring quality of life not just clinical indicators

4.      Big Data in 2020: Health data is pervasive - requiring new tools and provider models

5.      Regulatory compliance and patient safety in 2020: Regulations reflect the convergence of technology and science

Internal industry performance shaping predictions

6.      Research and development in 2020: The networked laboratory - partnerships and big data amidst new scrutiny

7.      The pharmaceutical commercial model in 2020: Local is important but with a shift from volume to value

8.      The pharmaceutical enterprise configuration - the back office in 2020: Single, global organisation responsible for insight enablement

9.      New business models in emerging markets in 2020: Still emerging, but full of creativity for the world

10.  Impact of behaviours on corporate reputation in 2020: A new dawn of trust

 

 

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