Consumer preferences appear to be creating new market opportunities to close care gaps and bring new entrants and innovation to the industry
new york, October 30, 2024 /PRNewswire/ —
Important points
- Convergence may be the key: More than half (54%) of executives surveyed by Deloitte believe cross-industry strategic partnerships are essential to the future of the life sciences and healthcare industry.
- Consumers can be catalysts for change. Approximately one in four consumers (24%) are willing to change their doctor if a virtual visit option is not offered, demonstrating the potential for consumer preferences to shape the industry.
why is this important
In 2025, life sciences and healthcare (LSHC) organizations will take advantage of the growing wave of consumerism and industry convergence, according to Deloitte’s 2025 U.S. Life Sciences and Healthcare Outlook released today. , they may be forced to choose between risking market share and margin loss. Deloitte recent data consumer survey Some are willing to switch to providers that don’t offer their preferred engagement methods, such as virtual visits, indicating that healthcare consumers may be left to their wallets. Similarly, in life sciences organizations, more consumers may be attracted to purchasing certain drugs directly from manufacturers, with direct-to-consumer sales of drugs moving from the current end to the norm in the future. There is a possibility that In 2025, the power of the medical consumer may become even more fully evident.
main quote
“Life sciences and healthcare organizations are looking to achieve their missions while increasing margins. Organizations that understand consumer preferences and prioritize consumer choice will spend the next year adjusting their business strategies and Our research suggests that strategic moves leveraging cross-industry collaboration can help close gaps in care. and can help meet consumers’ evolving needs and expectations. ”
— Dr. Kulleni Gebreyes, Vice Chairman and US Life Sciences and Healthcare Leader, Deloitte
Requires a change of perspective and understanding
Traditionally, the life sciences and healthcare industry has viewed customers narrowly as patients for services and products, or members for benefits. In a rapidly changing world that constantly challenges conventional thinking, the life sciences and healthcare industry is no exception. In 2025, organizations that understand that the people they serve are not just hospital patients, health plan members, and users of medical devices and prescription drugs will have a competitive advantage. you may be able to earn. This broader view of the whole person will help the industry understand how to meet healthcare consumers wherever they are when they need medical services, medical devices, and medicines.
Convergence may close the gap
Startups and organizations outside of the life sciences and healthcare sectors appear to be working to bridge the gap between consumer preferences and existing products and services. According to an analysis of PitchBook data by Deloitte, private equity firms have invested in: $87 billion Between 2021 and 2024, consumers will $550 billion According to a Deloitte analysis of the Global Wellness Institute 2022 report on non-traditional healthcare products and services. Market opportunities that fill gaps in consumer needs could drive convergence in 2025. More start-ups are likely to enter the space, and established organizations may develop new products and services to meet changing consumer preferences.
main quote
“Consumers appear to be investing in their health. The opportunity to connect industry incumbents with organizations inside and outside of traditional life sciences and healthcare will help make healthcare more affordable and accessible.” , it could be more fair and more reflective of the experience consumers deserve.” They must live longer, healthier lives. ”
— Dr. Ghebreyesus
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based privately held companies. I am. At Deloitte, important impact By creating trust and confidence in a more just society. We use a unique combination of business acumen, technology command, and strategic technology partnerships to advise clients across a variety of industries. build their future. Deloitte is proud to be part of the world’s largest professional services network, serving clients in the markets that matter most to them. With more than 175 years of service, our network of member firms spans more than 150 countries and territories. See how Deloitte’s approximately 460,000 employees around the world connect and make an impact. www.deloitte.com.
Deloitte refers to Deloitte Touche Tohmatsu Limited (“DTTL”), a privately held UK company, its network of member firms, and one or more of their affiliated entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also known as “Deloitte Global”) does not provide services to clients. in USDeloitte refers to one or more of DTTL’s U.S. member firms and related entities doing business in the United States using the name “Deloitte.” US and their respective affiliates. Based on public accounting rules and regulations, certain services may not be available to certify clients. Please take a look www.deloitte.com/about To learn more about our global network of member firms.
Source Deloitte
I want company news Have you been featured on PRNEWSWIRE.COM?
Over 440,000
newsroom and
influencer
9k+
digital media
outlet
Over 270,000
journalist
opt-in
