Life sciences industry optimism for 2024 and 2025 growth
The top management of life sciences companies is very optimistic about 2024 and 2025, with over 80% of pharmaceutical, medical technology and biotechnology executives expecting profit growth for the current year and over 90% for the coming year.
Around one in two companies expect profits to rise by more than five per cent this year and 70 per cent next year. These are the findings of the annual "Life Sciences Executives Flash Report" study by Horváth, an international, independent management consultancy.
The reason for the positive mood: those responsible firmly believe that volume growth (over 75%), new product launches (over 80%) and cost efficiency measures are having an impact. In particular, they are focussing on a leaner administrative structure. Almost 50% of respondents see this as an opportunity to increase profits.
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