Life science companies have always faced unique challenges in the insurance market due to their visible role in drug pricing, ability to advance healthcare and make it accessible to many. But the global pandemic truly highlighted the industry’s importance and was a catalyst for innovation for many in the space.¹ Despite these difficult times, many life sciences organizations were able to achieve significant scientific breakthroughs.² Many of these breakthroughs can be credited to an increase in data-driven approaches across the value chain as well as greater collaboration with other companies and countries. Increased investment in the space from the public and private markets, as well as technological advancements, also played a pivotal role in the recent success of the life sciences industry.

1 2022 Global Life Sciences Outlook | Deloitte
2 2022 Global Life Sciences Outlook | Deloitte