Healthcare & Life Sciences

FTI Consulting Survey: U.S. Healthcare & Life Sciences Industry Outlook 2026

December 15, 2025
Healthcare & Life SciencesNorth America

Charting New Terrain: Life Sciences Leaders on the Path Ahead in 2026

The fifth edition of FTI Consulting’s Life Sciences Industry Outlook survey findings show the view for 2026 is tempered by concerns around fundraising, policy shifts and cybersecurity. This includes monitoring how artificial intelligence and large language models should be used across their enterprise, wading through the fluidity of potential IPO and M&A opportunities, to treading the fine line between political and reputational risks from weighing in ongoing public policy debates, and defending their organization against never-ending cyber threats.

Optimism Holds, Yet Confidence Wanes

Most leaders remain positive about 2026, but expectations around fundraising and market recovery has cooled.

Capital Markets Stabilize

Megadeals continue, yet broader fundraising and IPO activity remains constrained. Leaders anticipate steady M&A but remain cautious about capital access.

Policy and Regulation Pressures Continue

Mixed views around the administration and concerns about key policies highlight the need for real-time tracking, scenario planning, and careful, disciplined communication.

AI Becomes an Enterprise-Level Priority

AI is now the top area of new investment and is expanding beyond R&D to shape operations, financial analysis, patient engagement, and communications. Learn more here.

Cyber Preparedness Eroding Amid Rising Threats

Despite high awareness of cyber risks, fewer organizations maintain crisis plans or run simulations, leaving widening gaps in readiness.

“While the majority of stakeholders are optimistic about 2026, there are ongoing concerns around fundraising, policy shifts, and cybersecurity. The financing landscape is more constrained, political and regulatory pressures are intensifying, and leaders recognize that short-term planning is no longer sufficient to help them achieve their business goals. In this moment, the organizations that will stand apart are those embracing rigorous scenario planning, not as a crisis tool, but as a strategic discipline. When companies pressure-test their assumptions and weave those insights into their business strategy and corporate narrative, they communicate with greater confidence and credibility. In the high-risk, high-reward environment of biotech, clarity of foresight is becoming the most valuable asset a leadership team can offer.”
Robert Stanislaro
Corporate Reputation

AI is revolutionizing the life sciences industry.

Learn more about the AI findings here.

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“The industry’s long-anticipated rebound in capital markets has not yet materialized, and leaders are adjusting to that reality. Despite a flurry of megadeals driven by big pharma’s approaching patent cliff, the broader financing environment remains competitive and limited, IPO windows remain narrow and fluid, and skepticism around fundraising is growing. As we look to 2026, the most effective leadership teams will be those that balance patience with precision by grounding their strategies in a keen understanding of market conditions while positioning themselves to act when momentum eventually returns. In an era where uncertainty is the norm, disciplined strategic growth planning isn’t just prudent; it’s a defining feature of resilient biopharma organizations.”
Jim Polson
Financial Communications
“AI is no longer a speculative investment for life science companies - it has become a core differentiator. As leaders prioritize budgets for 2026, AI and large language models now outrank even R&D and talent as top areas of investment, reflecting how deeply these technologies are reshaping the enterprise. The organizations that pull ahead will be those that embed AI thoughtfully and responsibly into the fabric of their business and entrench it into their communications and strategy function to enhance decision-making, personalize engagement, and strengthen the clarity and consistency of their corporate narrative.”
James Condon
Americas Head of Research
“As the political and regulatory environment evolves, life sciences leaders face a moment that calls for heightened awareness and more disciplined communication. With the industry divided and major policies raising concerns around pricing, supply-chain disruption, and overall increased scrutiny, it is essential for companies to monitor developments carefully and in real-time and engage proactively with policymakers and stakeholders. The organizations that navigate this period most effectively will be the ones that pair strategic agility with disciplined foresight, ensuring their plans, partnerships, and communications stay aligned with a political landscape that can change overnight.”
Lauren Crawford Shaver
Americas Head of Healthcare & Life Sciences
“Life sciences leaders are increasingly aware of their exposure to cyber risk, yet the industry’s preparedness posture is slipping. While the majority of executives see their organizations as vulnerable, fewer companies have crisis communication plans or run regular simulation exercises—leaving critical blind spots in an era of escalating privacy breaches, ransomware incidents, and supply-chain attacks. Regular exercises, well-maintained playbooks, and cross-functional readiness are no longer optional; they are essential to protecting the enterprise’s reputation, patients, data, and the continuity of care.”
Jamie Singer
Cybersecurity & Data Privacy Communications

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This research was conducted online by FTI Consulting’s Corporate Positioning & Insights Practice within the Strategic Communications segment between September 10, 2025 and September 26, 2025, by surveying 300 decision makers in corporate communications, investor relations, public affairs, business development, and marketing for healthcare and life sciences companies in the U.S. Due to the standard convention of rounding, some totals may not add up to 100%.

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The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, Inc., its management, its subsidiaries, its affiliates, or its other professionals.

FTI Consulting, Inc., including its subsidiaries and affiliates, is a consulting firm and is not a certified public accounting firm or a law firm.

FTI Consulting is an independent global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. FTI Consulting professionals, located in all major business centers throughout the world, work closely with clients to anticipate, illuminate and overcome complex business challenges and opportunities. ©2025 FTI Consulting, Inc. All rights reserved. www.fticonsulting.com

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