As the vast healthcare industry evolves, our practice covers companies involved with medical devices, pharmaceuticals, biotechnology and patient care. Recent advances in technology are revolutionizing and radically changing the areas of medical diagnosis, treatment and condition management. The demand for better quality of life is never ending. Yet there is relentless cost pressure, increasing regulation and competition and shorter market cycles, driving consolidation and newer business models. The healthcare industry has to constantly reckon with regulation and the need for innovation, as the field that affects literally every individual on Earth.
With products going off-patent and the ever increasing need to improve the quality of life for the world’s poor, companies need to rethink business models, R & D efforts, product pipelines, supply chains, even overall missions. They must focus on their efficiency of operations and manufacturing excellence as differentiators in an already crowded field. Healthcare industry leaders must encourage the push towards enhanced collaboration leading to increasing cross-border alliances. An increasing emphasis should be placed on linking the lab to the market especially vis-a-vis serving the people at the bottom of the pyramid. Frugal innovation of medical devices must go mainstream.
In this crucial industry sector, we help companies handle issues such as:
- Developing an innovation culture that serves both the developed world citizens and the billions of people in emerging markets.
- Identifying innovative systems that can complement a radical overhaul of the health care system in the US.
- Attracting and retaining hard-earned technical and conceptual skill sets
- Leveraging global M&A, Joint Ventures and Alliances in order to create a new healthcare industry paradigm.