1. Leaders' optimism about the healthcare sector dropped 9% from last year. 2. 64% believe legislation will increase patient costs, raising supply chain concerns. 3. 59% plan to increase budgets for AI and large-language models in 2026. 4. 65% expect an increase in M&A activity, amid challenging fundraising conditions. 5. 47% perceive a vulnerability to cyber incidents, with declining crisis communication plans.
FAQ
Why Bearish?
The overall negative sentiment and declining optimism forecast increased risks for FCN.
How important is it?
Shifts in industry outlook and increasing operational challenges could affect FCN's market performance.
Why Short Term?
Immediate challenges in legislation and cybersecurity could directly affect operational performance.
FTI Consulting's Latest Survey Highlights Life Sciences Leaders' Concerns Heading into 2026
On December 16, 2025, FTI Consulting, Inc. (NYSE: FCN) released the findings from its fifth annual U.S. Healthcare & Life Sciences Industry Outlook for 2026. This year's survey reveals a notable decline in optimism among industry leaders, with overall sentiment down 9% compared to the previous year. As they prepare for the future, leaders are grappling with significant challenges in the capital markets, evolving regulations, and persistent cybersecurity threats.
Shifting Political and Economic Landscape
As the industry navigates a complex political environment, FTI's findings reflect a divided opinion on the current administration. Life sciences leaders exhibit mixed feelings, with 51% expressing a positive outlook on President Trump’s impact, while 49% are negative about it. Additionally, key officials such as Secretary of Health and Human Services Robert F. Kennedy Jr. and FDA Commissioner Dr. Marty Markay receive favorable ratings of 51% and 53%, respectively.
Policy concerns weigh heavily on respondents, as 64% believe the One Big Beautiful Bill Act will increase patient out-of-pocket costs, and 56% anticipate disruptions in the supply chain as a result of Trump’s Most Favored Nation policy.
Investment in Artificial Intelligence
Despite these challenges, the survey reveals a commitment to innovation, particularly in artificial intelligence (AI). Approximately 59% of respondents plan to increase their budgets for AI and large-language models in 2026. The expectations for AI implementation cover various functions:
- Development of internal content: 41%
- Internal operations: 38%
- Financial analysis: 37%
- Patient support services: 34%
- Personalized marketing: 31%
In the realm of communications, leaders see AI as particularly beneficial for enhancing social and digital engagement (63%) and investor communications (45%).
Rising Cybersecurity Risks
The survey also highlights serious concerns regarding cybersecurity within the industry. Nearly half of the respondents, at 47%, perceive their organizations as vulnerable to cyber incidents. Alarmingly, only 60% have a crisis communications plan in place, down from 68% in 2025. Furthermore, participation in simulation exercises has declined to 47% from 53% last year.
Capital Markets and M&A Activity Outlook
Looking ahead, 65% of survey respondents expect increased merger and acquisition (M&A) activity in 2026. However, optimism regarding initial public offerings (IPOs) has waned, with only 54% of leaders expressing confidence in this regard—a 7% drop from 2025. A challenging fundraising climate is also anticipated, with just 28% believing it will be easier to secure capital next year.
“Our findings reveal a life sciences industry that remains resilient but increasingly cautious as we enter 2026,” said Lauren Crawford Shaver, Americas Head of Healthcare & Life Sciences at FTI Consulting. “While the majority of leaders maintain a sense of optimism, we're seeing notable shifts in sentiment around capital access, the political and regulatory climate, and the desire to invest in innovative technologies such as AI.”
Survey Methodology
The insights for this report were derived from an online survey conducted by FTI Consulting’s Strategic Communications segment between September 10 and September 26, 2025, involving 300 decision-makers in various roles within healthcare and life sciences companies across the United States. Over half of the respondents represent large companies with more than 250 employees, and approximately 28% are from publicly listed firms with an average market cap of $5 billion.
About FTI Consulting
FTI Consulting, Inc. is a premier global expert firm that supports organizations in crisis and transformation. As of September 30, 2025, the company boasts over 8,100 employees across 32 countries and territories and achieved revenues of $3.70 billion in fiscal year 2024. For additional information, visit www.fticonsulting.com.