Disruptive innovation typically happens in industries that are broken (too expensive or inefficient), when assets and technologies (many of which are already in existence) combine in new configurations to deliver value more efficiently. And according to EY, all of these conditions exist in today’s healthcare industry. The system is broken, with the cost of healthcare rapidly becoming unsustainable across major markets. The focus on outcomes is providing the catalyst for disruptive innovation and giving nontraditional players an opening.
According to PwC, major scientific and technological advances, coupled with socio-demographic changes, increasing demand for medicines and trade liberalization, will revive pharma’s fortunes in another 10 years and deliver dramatic improvements in patient care. But pharma companies will need to make some tough decision now…
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