We live in a fast-changing world in which traditional markets and economic systems are being challenged. Andrew Badrot, ceo of CMS Pharma, and Stefan Borgas, president and ceo of ICL, discuss five megatrends and what they mean to pharma businesses.
We are in a decade in which high volatility1 and massive changes in virtually every area of business are the new norm: major consumer and industrial markets are no longer concentrated in the ‘Western’ world and Japan but spread across Asia and Latin America. Commodity prices, including energy costs, are and will remain at an all-time high. The US, Europe and Japan are witnessing serious growth challenges, Europe’s social systems are bankrupt and debt is crippling governments.
Social upheaval has become a serious threat and demographic change will create new markets in different regions of the world. Innovation cycles are shorter and harder to predict, while technology has never been developed faster. Protection of the environment is top of the agenda and white biotechnology2 promises to revolutionise our future the same way oil-based chemistry revolutionised the 20th century.
All these trends are hitting businesses simultaneously. This is the decade where companies have to act – decisively, dynamically and most importantly with strategic intent.
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