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THE ALBRIGHT REPORT 2024

THE PURPOSE OF THE STUDY

The purpose of this study is to explore the key growth drivers and threats that organizations within the Danish life sciences sector are facing today. By examining current trends, strategies, and concerns, the survey provides valuable insights into how companies are positioning themselves for the future.

HIGH LIGHTS FROM THE STUDY

  • 12 months growth prospects:

    • 79% of Medtech/IVD executives are confident or very confident of growth in the next 12 months

    • 73% of Pharma/Biotech executives are confident or very confident of growth in the next 12 months 

  • Top 3 growth-drivers in the short/medium term - across Medtech/IVD and Pharma/Biotech:

    • Strategic alliances and partnerships (in both Pharma/Biotech and Medtech/IVD)

    • Introduction of disruptive or groundbreaking products and services

    • Emerging technologies (e.g. AI/Machine learning) that optimize R&D (Pharma/Biotech) and Digitization of products and/or services (Medtech/IVD)

  • Top 3 growth-drivers in the long term - across Medtech/IVD and Pharma/Biotech:

    • Introduction of disruptive/groundbreaking new products/services​ (in both Pharma/Biotech and Medtech/IVD)

    • Strategic alliances and partnerships (Medtech)

    • Value-based contracting/pricing that ties payments to outcomes (Medtech) and Emerging technologies (e.g., AI/machine learning) (pharma)

  • Top-3 growth threats impacting Medtech/IVD :

    • Geopolitical uncertainty

    • Over-regulation

    • Insufficient access to talent

  • Top-3 growth threats impacting Pharma/Biotech :

    • Geopolitical uncertainty

    • Inability to capture emerging markets

    • Insufficient access to talent

  • Strategic initiatives prioritized for implementation in the next 1-3 years:

    • Increasing focus on external partnerships and/or alliances (both Pharma/Biotech and Medtech/IVD)​

    • Implementing and extracting value from Generative AI and emerging technologies (Pharma/Biotech)

    • Increasing focus on costs (grappling with escalating cost pressures) (Medtech/IVD)

    • Increasing focus on M&A (Pharma/Biotech)

    • Increasing focus on patient centricity/outcomes for commercial use (Medtech/IVD)

  • Talent - how easy or difficult is it to attract talent:

    • 42% says it is very difficult or difficult (Pharma/Biotech)​

    • 42% says it is very difficult or difficult (Medtech/IVD)

  • Strategies to attract or develop talent:

    • Creating a compelling employer brand (both Pharma/Biotech and Medtech/IVD)

    • Modernizing the working environment (both Pharma/Biotech and Medtech/IVD)

    • Promoting work-life balance (Pharma/Biotech)​

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