FTI Consulting Survey Shows Life Sciences Leaders’ Outlook Tempered by Concerns Around Fundraising, Policy Shifts and Cybersecurity Heading into 2026

Rhea-AI Summary

FTI Consulting (NYSE: FCN) released its fifth annual U.S. Healthcare & Life Sciences Industry Outlook 2026 on Dec 16, 2025, showing sentiment down 9% year-over-year.

Key findings: 64% expect the One Big Beautiful Bill Act to raise out-of-pocket costs, 56% expect supply-chain disruption from Most Favored Nation policy, and 59% plan to increase AI/LLM budgets in 2026. Respondents flagged cybersecurity risks: 47% see their orgs as vulnerable, only 60% have crisis comms plans (down from 68%), and simulation participation fell to 47% (from 53%). 65% expect higher M&A activity while only 28% expect fundraising to be easier in 2026.

Positive

• 59% of leaders plan to increase AI/LLM budgets in 2026
• 65% of respondents expect higher M&A activity in 2026
• Leadership views of HHS and FDA heads are slightly positive (51–53%)

Negative

• 9% drop in overall industry optimism year-over-year
• 28% expect fundraising to be easier, indicating tougher capital access
• Cyber readiness weakness: only 60% have crisis comms plans (down from 68%)

Industry Leaders Point to Challenging Political and Economic Environment

Key Legislation Expected to Impact Supply Chain and Drug Costs

Recent M&A Momentum Offset by Challenging Fundraising Environment

Artificial Intelligence (AI) Seen as Key Investment Area

WASHINGTON, Dec. 16, 2025 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced findings from its fifth annual U.S. Healthcare & Life Sciences Industry Outlook 2026, which revealed that leaders are less optimistic about the state of the industry, down 9% from last year’s survey.

The survey indicates that while optimism persists in some areas, industry leaders are navigating significant challenges within the capital markets, evolving political and regulatory landscapes, and have ongoing cybersecurity concerns.

“As we look towards 2026, life sciences companies face a complex landscape of shifting financial and regulatory factors, which demand strategic agility,” said Robert Stanislaro, Head of the Healthcare & Life Sciences’ Corporate Reputation offering within FTI Consulting’s Strategic Communications segment. “Organizations that prioritize scenario planning and incorporate those insights, as well as leverage AI to drive efficiencies, into future business plans will be best positioned to navigate the challenges and opportunities ahead.”

Policy and Regulatory Challenges
A year into President Trump’s second presidency, life sciences leaders remain divided (51% positive versus 49% negative) about his impact on the industry to-date. Notably, respondents view Secretary of Health and Human Services Robert F. Kennedy Jr. and Food and Drug Administration Commissioner Dr. Marty Markay somewhat more favorably, with 51% and 53% positive ratings. Policy concerns are also prominent, with 64% believing the One Big Beautiful Bill Act will increase out-of-pocket costs for patients, and 56% anticipating that President Trump’s Most Favored Nation policy will increase supply chain disruptions.

Artificial Intelligence Development & Usage
Despite economic headwinds, 59% of respondents plan to allocate additional budget to AI and large-language models in 2026. Organizations are expecting to implement AI across multiple functions, including for the development of internal content (41%), internal operations (38%), financial analysis (37%), patient support/hub services (34%), and personalized marketing (31%). In communications specifically, leaders see AI offering the greatest opportunities in social and digital communications (63%), media engagement (48%), issues management (48%), thought leadership (47%), and earnings/investor communications (45%).

Cybersecurity Concerns
The survey also reveals concerning trends in cybersecurity readiness. Nearly half (47%) of respondents perceive their organizations as vulnerable to cyber incidents. However, only 60% of respondents have a crisis communications plan in place, down from 68% in 2025, and participation in simulation exercises has dropped to 47% from 53% in 2025.

Transactions & Capital Markets Activity
While 65% of respondents expect M&A activity to be higher in 2026, only 54% of leaders are optimistic about increased IPO activity, representing a 7% drop from 2025. The fundraising environment is also predicted to be increasingly challenging, with only 28% of respondents believing that it will be easier to raise capital in 2026.

“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 within FTI Consulting’s Strategic Communications segment. “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 desire to invest in new innovative technology such as AI.”

The full survey report is available here.

About the Survey
This research was conducted online by FTI Consulting’s Strategic Communications segment between September 10 and September 26, 2025, with 300 decision-makers in corporate communications, investor relations, public affairs, business development and marketing roles for healthcare and life sciences companies in the United States. Fifty-one percent of respondents represent large companies (with more than 250 employees), and roughly one quarter (28%) represent publicly listed companies with a weighted average $5 billion market cap.

About FTI Consulting  
FTI Consulting, Inc. is a leading global expert firm for organizations facing crisis and transformation, with more than 8,100 employees located in 32 countries and territories as of September 30, 2025. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. The Company generated $3.70 billion in revenues during fiscal year 2024. More information can be found at www.fticonsulting.com.

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Investor Contact:
Mollie Hawkes
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Media Contact:
Nick Emmons
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FAQ

What did FTI Consulting's Dec 16, 2025 survey find about life sciences optimism for 2026 (FCN)?

The survey found overall optimism down 9% YoY with mixed views on policy and capital access.

How many respondents in the FCN survey plan to spend more on AI and LLMs in 2026?

59% of respondents plan to allocate additional budget to AI and large-language models in 2026.

What did the FCN survey report about cybersecurity readiness in life sciences heading into 2026?

The survey reported 47% see their organizations as vulnerable, 60% have crisis comms plans, and 47% ran simulation exercises.

What did the FCN survey say about fundraising and IPO expectations for 2026?

Only 28% expect fundraising to be easier and 54% are optimistic about IPO activity, a 7% drop from 2025.

How do life sciences leaders in the FCN survey view policy impacts like the One Big Beautiful Bill Act?

64% believe the One Big Beautiful Bill Act will increase out-of-pocket costs for patients.

What operational areas will FCN survey respondents use AI for in 2026?

Top uses include internal content (41%), internal operations (38%), financial analysis (37%), patient support (34%), and personalized marketing (31%).