Pharma Market Access Trend in 2023

In the post-pandemic age, evolving #pharmaceutical industry and generative #AI, Market Access (MAx) teams need to adapt their strategical approaches to effectively engage stakeholders, meet the market expectations. To drive access to patient-focused medications, doctors, healthcare #payers and service delivery partners, MAx teams need to convey a compelling story about their products through appropriate channels.

Pharmaceutical Executive ( MJH Life Sciences? ) published a report in January 2023 which combines experts' real-world experience with insights from across the industry to help MAx teams to start thinking about how they can tell their story by preparing thoroughly, thinking differently, engaging in new ways, and tying the story altogether.

Ultimately, manufacturers need to be able to tell a good story to drive utilization and inspire coverage. To do that, they first must develop an amazing product, wrap the right distribution and patient support services around it, craft a story that will resonate with the market, and then use the right channels to tell that story to the right people. - The report quoted.

Trend 1: Impact to profitability is expected due to the #regulatory commitments, necessitating strategical forecasting, modeling and data-driven approaches for MAx teams to navigate through the complex regulatory environment and anticipate price pressures and uncertainties.

Trend 2: The increasing cost pressures will intensify stresses between the distributors and manufacturers, requiring them to find common ground or to explore alternative distribution systems to sustain economic viability for all involved parties.

Trend 3: In the MAx space, using an #omnichannel approach to communicate is crucial as payers can be overwhelmed by the information, presenting manufacturers with an opportunity to deliver targeted content through various channels and continue the conversation beyond account managers’ touchpoints while gathering valuable insights to enhance the messaging.

Trend 4: The post-pandemic healthcare landscape will drive manufacturers to modernize the site (of care) determination and administration method, as consumer may expect convenient and accessible healthcare (reshaping traditional models), requiring #MAx teams to embrace emerging technologies and alternative care options (e.g. Decentralized Clinical Trials to say).

Trend 5: Ensuring early access to pharmaceutical products requires telling a compelling clinical and #economic outcome story that addresses the population of health concerns, cost trade-offs and provides relevant information to inform formulary and access decisions for government and commercial payers. Pharma manufacturers can influence stakeholder decisions and develop effective commercialization strategies that supports patient affordability and improve access to medication by adopting the awareness and value demonstration upfront.

In this regard, my earlier post on Value-based pricing (VBP)?reflects the same.

Trend 6: As the healthcare industry's evolute, acceptance of digital therapeutics as a viable treatment option will escalate, with stakeholders seeking #RWD and #RWE, partnerships to demonstrate their value and integration with healthcare systems. While questions regarding monitoring, #reimbursement and place in therapy still need to be addressed.

Trend 7: To develop successful patient support solutions for novel therapies/medicines requires a tailored approach. Unique product feature, cross-functional #stakeholders engagement and mapping the #patient journey to ensure the right support is provided at the right time, will lead to an integrated launch and improved patient experiences.

Trend 8: Implementing effective customer relationship management and closed-loop marketing strategies, manufacturers can influence the first-party data generated through interactions with payer customers to gain a more complete understanding of their decision-making dynamics and enable more targeted and effective #communication in the market access.

Trend 9: Addressing #social health determinants and implementing strategies that promote equity in access to healthcare will improve health outcomes. This also, contributes to the manufacturer’s market success, making it essential for MAx teams to integrate health equity considerations into their decision-making processes.

Trend 10: Creativity will be crucial for overcoming the healthcare access challenges by developing innovative solutions, enhancing communication strategies and utilizing interactive tools to address challenges, improve equity and deliver meaningful experiences for stakeholders involved.

Coming up next:?Medical Device and IVD industry trends for 2023 (Thr. 22.06.2023)

About the Author

Avisek Ghose is a healthcare market researcher, driven by marketing passion. A seasoned consultant and trained bio-imaging specialist who shares his insights and outlook about recent trends, challenges and opportunities about early market access strategies, HEOR and HTA issues in Medtech, Pharma and Diagnostic products.

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Disclaimer:

Content of this Newsletter is inspired by the original article by Cora Meese (Title:10 Market Access Trends to Watch for in 2023) published by Pharmaceutical Executive ( MJH Life Sciences? ) on 26.Jan.2023 and supported by other publicly available insights.

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