Compiled by Cari Kraft, Jacobs Management Group, Inc.
78% Consumers want virtual health
In a survey of more than 1,500 consumers, Accenture found that consumers are willing to use a wide range of virtual health services. Interestingly, only 21% have actually tried it.
Source: Accenture Consulting, “Virtual Health: The Untapped Opportunity to Get the Most out of Healthcare,” 2015
$74B Venture capital device and biopharma investment in 2016
Venture capital firms invested over $74B in the device and biopharma sectors last year. The past two years saw nearly double the investment activity compared with 2011-2013.
Source: “Trends in Healthcare Investments and Exits 2017,” Silicon Valley Bank, based on PitchBook, NVCA and SVB proprietary data.
77% Percent of hospitals that say developing value-based payment models is a priority over the next 12-18 months
78% of physician practices are participating in value-based payment models, and participation among facilities is 91%. This includes Medicare quality incentives, pay for performance, ACOs and bundled payments.
Source: Availity study “Provider Outlook on Value-based Payment Models,” April 2016
Biotech revenues mixed, generally up
Growth is still the mainstay for biotech, with 70% of the companies on the list experiencing an increase in revenue from 2015 and 30% of the companies experiencing a revenue decline.
Source: Healthcare Sales & Marketing, April/May 2017, “Top 50 Biotech Companies”.
46% Portion of global healthcare market held by U.S. in 2016
The U.S. continued to command over 46% of the global pharmaceutical market in 2016, up slightly from both previous years
Source: Statista, Statistics and facts about the Pharmaceutical Industry in the U.S. 2016
$244B U.S. sales of Rx drugs in 2016
The patent drug market in the U.S. was $244B, 70% of the total. Generics came in at $70B, 21% of the total, and OTC sales were $19B, 6% of total.
Source: U.S. Snapshot: Pharmaceutical sales, Pharmaceutical sales per capita: Centers for Medicare and Medicaid Services (CMS), Consumer Healthcare Products Association (CHPA), BMI
$700M GSK/Verily investment in bioelectronic medicines
GlaxoSmithKline and Alphabet’s Verily Life Sciences have announced a plan to invest $700M over the next seven years in Galvani Bioelectronics, a joint venture focused on bioelectronic medicines. This is a new modality that complements small- and large-molecule drugs on the biopharma side and traditional devices on the medtech side.
Source: Pulse of the Industry: Medical Technology in 2016, EYGM Limited