The crucial role of market access in pharmaceutical strategies
The role of better market access is to remove any hurdle that prevents or hinders patients from receiving available treatments. In the right place, and at the right time.
Today, the impact of market access spans clinical development, regional commercial activities, patient engagement, and post-launch compliance. Yet, for many pharmaceutical companies, planning for commercialization only truly begins when a drug has been submitted for approval — far too late in the process.
Many decisions must be made in the early phases of the drug development life cycle. Companies that achieve better market access have commercial and market access teams that are fully functional long and closely cooperating before the approval stage.
Market access challenges
More stringent data requirements. Rising drug spending and increased desire for expenditure controls are a constant topic. As healthcare systems attempt to optimize drug spending, there is a higher burden of proof to justify appropriate pricing and produce evidence of outcomes.
Pharmaceutical and biotech companies must meet growing demands from Health Technology Assessments (HTA), reimbursement bodies, and local authorities. Not just in price negotiations, but also to provide convincing data on added value before and beyond the launch.
Increasingly complex environment. The increasing complexity in the pharmaceutical market environment poses both challenges and opportunities for companies. Market access strategies must be tailored to the specific requirements and preferences of each country.
This requires an understanding of diverse reimbursement systems, payer expectations, and healthcare infrastructures. Pharma companies need adaptive strategies with an in-depth understanding of the key decision drivers.
Growing number of stakeholders. Traditionally, market access focused primarily on regulatory approval and national reimbursement. Today, it involves a much broader array of stakeholders both within and outside HTA and reimbursement bodies.
Needs have evolved over years, and market access functions interact depending on the country with a growing number of different national, regional or local stakeholders. This requires a strategic, collaborative, and adaptive approach to navigate the complexities of each healthcare ecosystem.
Silo mentality. A fragmented view makes it difficult to demonstrate the full value of money for innovative treatments. Overcoming silo mentality is a strategic imperative for pharmaceutical companies aiming to demonstrate the full value for innovative drugs.
By fostering a culture of collaboration and implementing structural and procedural changes, pharma can enhance its ability to deliver integrated and impactful solutions to patients, prescribers and payers.
Early market access involvement. Market access must play an active role throughout the product life cycle: from clinical development to post-patent expiry. This requires global product teams with cross-functional partners to integrate access needs and align strategies already early on.
By integrating market access considerations throughout the product life cycle, companies can optimize strategies and enhance the overall success of their products.
Capability building and knowledge management. Capability building and knowledge management are critical components for pharmaceutical companies to enhance their understanding of market access and create a unified approach within the organization.
Many companies face challenges due to the lack of detailed understanding around market access. Establishing a robust knowledge management system and investing in capability building initiatives can address these gaps. This requires data availability and single sources of truth.
Simon-Kucher’s market access expertise
Adequately assessing the conditions and needs of the market is essential. It increases your probability of successful access, while achieving the price and conditions in line with your objectives.
Therefore, better market access demands a strategic and nuanced approach. Pharmaceutical companies must solve the equation of pricing, access, and time to ensure optimal market penetration and rapid reimbursement.
For almost 40 years, we have been helping pharmaceutical and biotech companies with their toughest strategic goals. We assist them in achieving long-lasting growth by providing advanced therapies to patients globally.
We help companies at all stages of product development and customer value chain, from launching their first product to established businesses.
Our experts will help you understand and improve your products to meet market needs and deliver more value to customers. We have a reputation for our hands-on approach and expertise. We help your team analyze data, create a plan, and put it into action to achieve our goals together.
We use a comprehensive approach to understand market behavior and needs. By combining our expertise with our client's knowledge, we help unlock sustainable growth potential quickly and profitably. We have experts in healthcare and local markets to help you succeed and grow your business in the future healthcare market.
We ensure our solutions are tangible and effectively implementable. The ultimate measure of our success is your success.
Explore our pharma market excellence strategies to unlock global markets, balance pricing ambitions, and execute successful product launches.
Global vision, local impact
Success in the pharmaceutical industry requires a harmonious synergy between a global market access strategy and local execution.
We ensure that your company not only formulates a compelling global vision but also executes it seamlessly at the local level. We understand that what works in one market might not necessarily translate to success in another. This emphasizes the need for a tailored approach that considers the unique dynamics of each region.
Achieve precision in pricing strategies
Simon-Kucher’s unparalleled expertise in the pharmaceutical sector empowers companies to tailor their pricing strategies with accuracy. Our insights help strike the right balance between ambitious pricing and broad patient access. This ensures your products are not only profitable but also accessible in the market.
Make a swift market entry
For pharmaceuticals, time-to-market is crucial. Simon-Kucher's strategies expedite reimbursement processes and market entry without compromising on pricing goals. This ensures that your products reach patients faster, allowing for an accelerated return on investment while maintaining profitability.
Maximize patient impact
Beyond the bottom line, the true impact of pharmaceutical companies lies in their ability to reach and help patients. By optimizing market access, Simon-Kucher enables pharmaceutical companies maximize their reach. Our strategies ensure your products reach a wide patient base while maintaining a sustainable and profitable market position, contributing to enhanced patient outcomes.
Revolutionize stakeholder engagement
We provide strategies that resonate with decision-makers across the healthcare ecosystem. Elevate your product positioning and launch planning through our expertise in engaging and influencing key stakeholders in the life sciences industry.
Next-generation launch planning
Embrace a new era of drug launches with Simon-Kucher's next-generation launch planning. Our real-time strategies, coupled with continuous improvement methodologies, empower pharma companies to adapt swiftly to market dynamics. This ensures successful product launches and sustained growth, keeping your company ahead of the curve.
Future-ready drug launch strategies
Simon-Kucher equips pharma companies with future-ready launch strategies. From real-time decision-making to long-term planning, our approach ensures that drug launches are not just successful in the present but achieve sustainable and long-lasting success.
And while payers are becoming more open to new and enhanced monetization approaches, these must align drug funding with patient value.
Now more than ever, pharmaceutical companies must demonstrate how a new drug improves patient outcomes, reduces the burden of the healthcare system, and is worth its price.
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