PriceWaterhouseCoopers' pharma group has certainly been busy this season. Right on the heels of its study on offshoring and investment in Asia, it has just released Pharma 2020: The Vision - Which Path Will You Take? a study of the global pharma market.
PWC analysts expect global demand for medicines to more than double, reaching $1.3 trillion in 13 years, but note (like so many studying the field) that pharma will have to change the way it operates, because "current health care expenditure levels are unsustainable unless they deliver more demonstrable care and cost benefit over the long term." No kidding.
PwC sees the focus shifting from treatment to prevention, and sees the traditional "blockbuster" sales model disappearing. "Pharma companies will, instead, sell integrated medicine and service packages, the analysts say, and some services, such as personalized patient monitoring and disease management, may be more valuable than the medicines themselves."
Someone, please tell the insurers about all this (but, no doubt, it's coming).
Download the entire report and podcast here.here.
-AMS
