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A Data-driven Research-based Country Pipeline System to Gauge Country Competitiveness in Healthcare
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Despite global political uncertainties and a subdued economic outlook, 2018 is expected to be promising for the global healthcare industry, supported by implementation of major health policies and initiatives. However, the global surge in drug prices will compel pharmaceutical and biotech companies to focus more on innovation as well as on a more favorable regulatory landscape for improved pricing flexibility to help them gauge the demand for healthcare drugs, devices and services. Despite seeing slow growth, rich counties are re-emerging; BRICS, the economic powerhouse, has started to fall apart, and new emerging and frontier markets are proving to be resilient. With corporates increasingly challenged by the need to invest in technological advancements and th need to find stable sociopolitical environment in countries, a business expansion decision will not be limited to a country’s “size”. The GIL-H Index or the Growth, Innovation, and Leadership Index for Healthcare Attractiveness essentially helps identify go-to investment destination using a robust data-driven approach, whereby countries are evaluated across multiple indicators under the Growth (G), Innovation (I), Leadership (L) and Healthcare (H) pillars. The growth pillar parameters help companies gauge the economic landscape and living standards of countries. The Innovation pillar captures a country’s innovation ecosystem strength and human resource capabilities. The Leadership pillar highlights a government’s effectiveness in establishing an enabling business environment for investors. The Healthcare pillar reflects the country’s strength in generating demand for the healthcare sector. This index is a generalized model and can be specifically engineered for client growth objectives.The GIL-100 index evaluates and furnishes composite ranks for 110 countries with a Gross Domestic Product (GDP) at and above $20 billion by giving specific weights to G, I, L, and H indicators. The results have further been analyzed under three altering scenarios by assigning changing weights to each of the pillars. Scenario I puts highest weightage to the H pillar, with the remaining weights distributed between the G, I, and L. Scenario II allocates 95% of the weights between H and G, with weightages of just 5% for I and L. Scenario III assigns highest weights to I followed by L, with G and H. The altering scenarios are also backed by hypothetical case examples that clearly highlight how the GIL Index results can be leveraged with changing client pressure points. A few country profiles from each region are also provided to highlight country drivers and challenges.
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