- Cancer Biology & Biomarkers
- Chromatography & Mass Spectrometry
- Contract Research, Clinical Trials and Outsourcing
- Drug Discovery
- Drug Targets
- Flow Cytometry
- Informatics & Lab Automation
- Ingredients, Excipients and Dosages
- Microbiology & RMMs
- NIR, PAT & QbD
- Raman Spectroscopy
- Screening, Assays & High-Content Analysis
- Thermal Processing
- Events & Workshops
North American pharmaceutical market focus shifting from prescriber to payer, says GlobalData
9 June 2015 • Author: Victoria White
Following the global economic recession and a slower-than-anticipated recovery, cost-containment measures are shifting the decision-making focus of North America’s pharmaceutical market from the prescriber to the payer, says research and consulting firm GlobalData.
A new report from GlobalData, PharmaSphere: North American Market Access Strategy, states that the global pharmaceutical industry is currently being confronted with intensified obstacles along the path to new product commercialization, with pricing and reimbursement hurdles particularly challenging for the North American market.
According to Adam Dion, MS, GlobalData’s Healthcare Industry Analyst, as overall healthcare spending has slowed during the recession, new pharmaceutical products and medical technologies have received increased attention regarding their potential cost savings.
Dion commented, “While the US population is largely covered through private health insurance, public sector coverage now includes third-party administrators, dispensers, and others, further complicating the situation.
“At the other end of the spectrum is Canada, where the single-payer system has meant sweeping cost-containment measures and a stricter pricing and reimbursement policy, which is a challenge for pharmaceutical companies.”
The analyst adds that as market access regulations are becoming more stringent, product commercialisation strategies will be helped by mapping a successful launch sequence of countries that have not only good domestic drug demand, but also the right pricing and reimbursement conditions.
Number of products costing at least $100,000 annually has increased over the last 5 years
However, while there have been continued efforts to lower spending on prescription drugs, on which the US spends approximately one tenth of its healthcare budget, the number of products with an annual cost totalling at least $100,000 has increased markedly over the past five years.
Dion continued, “The rise in premium-priced drugs has been most notable in the oncology and infectious diseases segments, particularly Amgen’s leukaemia drug Blincyto, and Gilead’s hepatitis C virus treatments Sovaldi and Harvoni.
“Despite discounts provided by manufacturers, the demand for innovative drug treatments in areas with high unmet need means that the continued influx of such therapies is likely to impact costs heavily for both insurers and patients,” the analyst concluded.
ABB Analytical Measurement ACD/Labs ADInstruments Ltd Advanced Analytical Technologies GmbH Analytik Jena AG Astell Scientific Ltd Bachem AG Bibby Scientific Limited Bio-Rad Laboratories BioNavis Ltd Biopharma Group Black Swan Analysis Limited Charles Ischi AG | Kraemer Elektronik Cherwell Laboratories CI Precision Cobalt Light Systems Coulter Partners CPC Biotech srl Dassault Systèmes BIOVIA DiscoverX Edinburgh Instruments Enterprise System Partners (ESP) EUROGENTEC F.P.S. Food and Pharma Systems Srl IDBS JEOL Europe L.B. Bohle Maschinen + Verfahren GmbH Lab M Ltd. LabWare Linkam Scientific Instruments Limited Molins Technologies Multicore Dynamics Ltd Nanosurf New England Biolabs, Inc. Panasonic Biomedical Sales Europe B.V. PerkinElmer Inc ReAgent Russell Finex Limited Source BioScience Takara Clontech Tornado Spectral Systems Tuttnauer Watson-Marlow Fluid Technology Group Wickham Laboratories Limited Xylem Analytics YMC Europe GmbH Yusen Logistics