Some health care firms have managed to work around the industry's well-documented growth constraints by pursuing a strategy of convergence--finding new combinations of formerly distinct market segments for pharmaceuticals, devices, and diagnostics. The authors, at Bain & Company, outline the considerations that drive the evaluation of and set the stage for convergence opportunities. Companies can use them to capitalize on an array of opportunities throughout the commercialization continuum and develop a response to potential threats from the outside.
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