Just as the Industrial Revolution was the driving force for the economic and social developments that shaped the past century, we believe that this century will be driven by improving quality of life through life sciences advancements.

Aging Populations and Rising Expenditures

Demographic trends are at work that will likely push health care demand steadily upward. In 1996, the oldest of the baby boomers turned 50. As this generation ages, its demand for health care and, correspondingly, health care expenditures, will likely increase dramatically. Between the years 2000 and 2025 the U.S. population over 65 is projected to increase by 50 percent. As a result of these demographic trends, the demand for healthcare goods and services is escalating. Health care now accounts for over 15% of the U.S. Gross Domestic Product, up from under 6% in 1965.

Accelerating Rate of Medical Breakthroughs

The discovery of the structure of DNA and the cracking of the genetic code are perhaps the most notable recent life sciences breakthroughs. Not only have they produced exciting new therapies that underpin the current revolution in molecular medicine, they have opened new research frontiers that continue to transform the health sciences. We believe that new “blockbuster” drugs are in development all over the world. Within the next decade, the health sciences industry is likely to make important progress in treating diseases such as cancer, Alzheimer’s and diabetes. The companies engaged in the pursuit of tomorrow’s innovations, and those who invest in them, have the potential to profit handsomely.

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