In our weekly Trends that Matter series, we provide engaging infographics from healthcare influencers to highlight general trends affecting the pharmaceutical industry. This week's featured topic is the global life sciences sector. According to 2016 data from Deloitte, the life sciences sector includes a $311 billion biotech market, $1.11 trillion pharma market, $800 billion distributor market, and $369 billion medical technology market.
The major areas of research in this sector are health, agriculture, medicine, pharma, and food science, which are intended to improve the quality of living globally. In upcoming years, the following factors are expected to drive growth in this sector:
- Aging population
- Rising wealth
- Lengthening life expectancy
- Increased access
- Increase in chronic conditions
In the infographic below, Deloitte outlines several trends and challenges impacting the life sciences sector globally.
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