As we look towards 2025, the healthcare sector is poised for significant changes, driven by advancements in technology, global health policy discussions, and increasing awareness of mental health issues. However, several challenges remain that may hinder progress in these areas.
According to the “Healthcare outlook in 2025: Global targets in question” report by the Economic Intelligence Unit(EIU) “Health spending will grow in real terms, but governments will miss their targets for universal healthcare.”
The report indicates that global healthcare spending is projected to grow by nearly 6% in US dollar terms and 1.9% in real terms in 2025, with private spending recovering as inflation eases. However, with public spending under pressure, the world is unlikely to meet UN targets for Universal Healthcare Coverage (UHC), compounded by the impacts of climate change and ongoing conflicts on human health.
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Pharmaceutical sales are expected to increase by 4.7% in 2025, driven by higher demand for anti-obesity medications and the continued strength of the dollar. The debate over regulation will remain intense, particularly in the US and EU, as efforts to contain prices and enhance competition persist. Additionally, pharmaceutical firms will focus on diversifying supply chains and boosting manufacturing capacity to mitigate drug shortages and reduce reliance on Chinese inputs.
The report also noted that medical tourism will drive healthcare investment in 2025.
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According to EIU, Here are the 3 innovations to transform the healthcare sector in 2025
1. mRNA technology and cancer treatment
In August, BioNTech, a German biotechnology company, commenced phase I trials for an mRNA vaccine targeting lung cancer. This trial represents a groundbreaking step in utilising mRNA technology, which gained prominence during the COVID-19 pandemic. The success of this vaccine could pave the way for innovative treatments for various cancers, enhancing patient outcomes.
Meanwhile, US-based Moderna is also in the race to develop mRNA vaccines, with reports suggesting that they could market a skin cancer vaccine as early as 2025. These developments reflect a broader trend in the healthcare industry, where mRNA technology may transform cancer treatment, offering new hope to patients and reducing barriers to effective therapies.
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2. Pandemic preparedness and global cooperation
Despite extensive discussions among world leaders over the past two years, a consensus on a pandemic preparedness treaty remains elusive. The negotiations aimed to establish a framework for global collaboration in response to future health crises, focusing on equitable vaccine distribution and resource allocation. The absence of a treaty raises concerns about the world’s ability to respond effectively to pandemics.
As countries struggle with the lessons learned from the COVID-19 pandemic, the urgency for a robust and coordinated response is paramount. The next World Health Assembly, scheduled for May, will provide an opportunity for member states to revisit their commitments and work towards a more conclusive agreement on pandemic preparedness.
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3. Mental health and access to care
In January, new rules will enhance the Mental Health Parity and Addiction Equity Act, which aims to improve access to mental health care services. These regulations are critical for ensuring that mental health conditions are treated with the same importance as physical ailments, fostering a more inclusive healthcare system.
The focus on mental health comes at a time when the global community recognises the growing impact of mental health issues on overall well-being. With the pandemic exacerbating mental health challenges, equitable access to care has become essential. The integration of mental health services into primary healthcare will be crucial for addressing these challenges.
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