The politics of health: how elections will impact on life sciences

MedTech, biotech and pharma will all be affected by Modi's 'made in India' policy which aims to supercharge the country's manufacturing base to help boost growth and create more jobs.

Projected revenues in India's MedTech market this year are expected to top US$8.71billion. With an anticipated annual growth rate of 7.61%, they are predicted to reach US$12.57bn by 2029.

Despite this rapid growth – a result of increased government investments in healthcare infrastructure and rising demand for advanced healthcare solutions – India's performance is dwarfed by the US, whose MedTech sector is expected to generate US$210.00bn this year.

Biopharma companies on both sides of the Atlantic, meanwhile, are prepared for a protracted recessionary environment in the coming 12 months.

While venture capital funding remains above pre-pandemic levels, securing financing now requires stronger clinical data and longer negotiation periods.

Private equity firms, increasingly partnering with venture capitalists, offer an alternative source of funding, as seen in KKR's recent investment in Catalio Capital Management.

Artificial intelligence (AI) in both machine learning and generative AI, is revolutionising the industry, with companies like InSilico Medicine and Relay Therapeutics leading the charge, accelerating the drug development process.

AI promises to drive incremental but significant efficiency gains across operations, including clinical trial design, patient recruitment, manufacturing, supply chain management, competitive intelligence, and sales and marketing.

Meanwhile, new cell therapies are showing promise in oncology. Allogeneic therapies are gaining traction, and the application of CAR-T in autoimmune diseases is expanding. However, manufacturing bottlenecks and safety concerns, such as secondary T-cell malignancies, need to be addressed.

Across all areas, success will depend on companies being able to navigate market uncertainties, adapt to evolving regulations, harness the power of AI, and embrace innovative engagement strategies. Those which can effectively leverage these trends will be better positioned to unlock the next stage of value creation and shape the future of healthcare.

The ethical minefield and its impact on innovation:

Beyond economic considerations, governments will grapple with increasingly complex ethical dilemmas that directly impact the trajectory of these industries.