Perspective study on participation in the healthcare market Healthcare is a top priority in society as a personal resource, social capital and status symbol. Liechtenstein commissioned a perspective study to ascertain the potential for participation in this healthcare market. The study concluded that Liechtenstein could play an important role in this future-oriented segment.
The perspective study on "The Healthcare Market and the Liechtenstein Healthcare Location" emphasizes that Liechtenstein as a small state is ideally suited to develop into a model country in the healthcare field. The study commissioned by the Government of the Principality of Liechtenstein and carried out by the Zurich Gottlieb Duttweiler Institute (GDI) finds that Liechtenstein can become a model country by achieving one of the highest life expectancies and one of the fittest populations: "That would be attractive from both a marketing and national economic perspective, since health is becoming increasingly important as a competitive factor and location advantage in postindustrial societies."
According to GDI, hardly a sector shows greater growth in recent years than the market for health and wellness. According to OECD estimates, this trend will continue, due not least of all to the fact that people are living longer: "People in poor health will spare no expense to regain their health. And healthy people will do everything to remain healthy." In public healthcare, costs are consequently rising, since more and more is being spent on health as a valuable commodity. Increased outlay is also being registered on the private side, because more and more people are participating in sports and are conscious of a balanced diet. In affluent societies such as the United States, Germany and Switzerland, the GDI study shows more private funds being invested in health and wellness every year. Growing affluence, increasing life expectancy and improved knowledge of significant health factors trigger an escalating demand for healthcare products and public health services.
In light of these dynamics, the GDI study investigated Liechtenstein's potential for capturing a segment of the emerging healthcare and prevention market. Results of the study are optimistic. However, Liechtenstein should not seek to establish itself in the core areas of healthcare, but rather provide services to the booming health sector. According to the GDI study, private healthcare providers could position themselves with "health and wealth" in a manner similar to private banks by offering their customers health management, in this way helping them to care for their health as their most valuable possession, to promote it and to invest in it appropriately. The Liechtenstein food industry is encouraged to expand its health food range (organic and functional food) and to assume a pioneer role in the prevention market. Industry could generate a greater margin by producing products for the healthcare market. The GDI study also sees potential in the medical technology and medicinal product market by building on the existing knowledge and wide range of the research-intensive industry location and tying in with the know-how of the Liechtenstein dental technology industry. A private clinic would also have potential according to the GDI study, specializing, for example, in heart surgery, plastic surgery or anti-aging, if internationally recognized top specialists were engaged.
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