Updated on 24 December 2012
Meanwhile, healthcare systems can take advantage of partnership opportunities to develop research capabilities, access new funding sources, and even build up a life sciences industry sector in their region or country. They can better negotiate with innovators and suppliers not just on price but also on economics of care pathways and drug/ device use, and have earlier access to new drugs or devices. However, they will also need to be ready to participate in major developmental and regulatory innovation, and build up capabilities in collecting outcome and safety data, and big data analysis.
Global forces affecting healthcare and life sciences demand convergence across the two sectors in order for all the industry players to prosper in a sustainable way. Therein lies the opportunity for both sectors to forge new partnerships to reduce healthcare costs and increase quality as well as access for patients around the world.