NetZealous LLC Services in the Life Sciences Industry - Bangalore

The life sciences industry in the US is at a kind of crossroads today. It is considered an independent industry, but its workings and dynamics have to take into consideration industries that make up the components of the life sciences industry, such as pharmaceuticals, biotechnology, healthcare and medical devices or medical technology.

Assessments and calculations of the life sciences industry are made in collation with these industries. The many challenges and changes that take place in these industries have to all be studied before coming to any meaningful conclusions. Most of these industries are intertwined to each other, as a result of which any analysis of the life sciences industry is comprehensive and rounded. It has to also be noted that the industries that are considered a part of the life sciences industry have their unique challenges and issues based on the geographies in which they are based.

Global trends for the industry and for the US:
The life sciences industry has been growing steadily globally. Deloitte estimated that the global growth of the life sciences industry was a little over five percent, a figure it is expected to maintain till at least 2018.

That is, this was the percentage at which the world’s spending on healthcare grew in 2015 from the previous year. This is a mixed bag when it comes to the geographies in which this spend was observed. At very close to the five percent mark, North America’s position was third in this list, ahead of South America and Western Europe, and lower than that of Asia, Middle East and Africa.

The size of the pharma market makes up the lion’s share of the life sciences industry, taking up $1.23 trillion of the total global life sciences market of $1.883 trillion for 2014, or about two thirds of the entire market. Medical technology was a $364 billion market, while biotechnology’s size was $289 billion.

Prominent challenges for the life sciences industry in the US:
As of the end of 2015, the life sciences industry, as it exists in the US, faced these major challenges:

Changes in the market conditions:
The market situation for the life sciences industry is going through a churn at this point of time. The most important change for the American life sciences industry is the change in emphasis from delivery to value. Patients are no longer content with just provision of services. They look for value added services. This has forced players in the life sciences industry to alter their outlook towards services delivery.

They now have to conceive newer and innovative methods in healthcare delivery. As a result, there has been a major rejig of the market forces, with smaller companies in the life sciences industry being bought over or acquired by bigger ones, resulting in a state of flux in the consolidation of the industry.

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