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  4. Looking forward: The most significant 2024 US healthcare trends - Part 5 of 5

Looking forward: The most significant 2024 US healthcare trends - Part 5 of 5

When discussing the five biggest challenges that await the healthcare industry in 2024, US politics is a key issue. America is clearly divided on many issues, including those involving government spending, healthcare reimbursements, and treatment coverage issues.

TREND 5 - Politics in a highly divided population

  • 2024 is an important US election year, with the presidency, as well as 435 congressional seats and 33 senatorial seats, up for election
  • Healthcare issues are not expected to be as much a focus in the election as they were in 2020
  • The outcome of a lawsuit against the Department of Health and Human Services (HHS) involving Medicare Part D price negotiations has yet to be determined.1 The results will have far-reaching impact for the market in 2024 and well beyond.  

ICON’s belief is that within the challenges of all five trends lie opportunities for drug manufacturers to both serve the public need, improve overall health, and generate profitable business. 

To do this effectively, manufacturers will need to: 

  • Reexamine their current initiatives as they relate to the current physical and mental health issues facing Americans.
  • Evaluate the next-most-likely efforts on the parts of payers and government to contain healthcare-solution costs and how they will likely impact operations.
  • Explore how to use drug categorization and its requirements to leverage possible advantages in the testing and approvals of drug classes for specific target groups.
  • Integrate the efforts of drug development with market access tactics to ensure that investments are maximised and risks are minimised.

ICON is well positioned to offer insights and data that can help manufacturers identify and then transform opportunity into actionable tactics. A conversation with our team may be the best way to gain wider perspective and see the opportunities available to manufacturers. If you’re ready to add the power of ICON to your analytics and assessments, click here for a fast response.

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