Pharmaceutical Pricing and Reimbursement Industry
Wiseguyreports.Com Adds “Pharmaceutical Pricing and Reimbursement -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2025” To Its Research Database
Global healthcare spending is projected to rise to around REDACTED in 2020, with spending as a percentage of gross domestic product (GDP) flat at around REDACTED, due to the hostile economic environment and the implementation of cost constraining measures, including a re-evaluation of the “clinical value” that products bring to the healthcare ecosystems.
The global pharmaceuticals market was valued at $1,058 billion in 2019 and should reach $1,520 billion by 2024 with a compound annual growth rate (CAGR) of 7.5% from 2019 to 2024, as new innovative, expensive cell and gene therapies and biologics reach the market and the number of originator products at risk of patent expirations decline. During the first quarter of 2020, most pharmaceutical companies, such as Bristol-Myers Squibb, GlaxoSmithKline, Eli Lilly, Johnson & Johnson, and Novartis, witnessed a short-term boost in sales as wholesalers stockpiled products due to supply chain concerns. Some areas such as physician or hospital administered medications and travel vaccines saw a decline in sales, for obvious reasons.
Mergers and acquisitions (M&A) activity in the pharmaceutical sector keeps ticking along, with 2019 being one of the most active years in the last decade, attracting around REDACTED in investment; many transactions involved the acquisition of cell and gene therapies and immune-oncology assets or to diversify risks through the adoption of digital technologies and artificial intelligence (AI).
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To contain healthcare costs, governments across the globe have introduced healthcare reforms and initiated new legislation and pharmaceutical regulations that look more closely at the performance and cost-effectiveness of care. The pharmaceutical regulatory landscape is highly fragmented and divergent, and the following section summarizes the regulatory processes adopted by the latest top five European countries and the U.S. However, as regulatory oversight increases there is a growing need for regulatory harmonization.
Since the first reports of COVID-19 in Wuhan, China in December 2019, there have been 5,165,481 confirmed cases and over 336,430 confirmed deaths in 216 countries worldwide, as of May 24, 2020. Relatively few countries remain unscathed by the pandemic and scientists across the globe have worked together to advise local, regional and national healthcare organizations to contain the spread of the disease and develop prophylactic vaccinations and new therapies to treat the symptoms of the viral infection. Each country has adopted its own healthcare strategies and mobilized resources based on their individual circumstances, but only by working together will the world be able to combat this lethal
More than $830 million in funding has been pledged to support R&D efforts in COVID-19, and health tech and pharmaceutical companies are working together in public-private collaborations, while numerous diagnostics, vaccines and treatments are already under development and research.
The COVID-19 pandemic has already dramatically changed healthcare delivery, and the economic impact of COVID-19 pandemic on healthcare spending is unknown. It will depend on many factors including: level and severity of infection, availability of diagnostics prophylactic treatments and vaccines, and whether the health system can manage supply constraints and defer non-essential healthcare services.
This new report on pricing and reimbursement in a global market provides a brief overview on the pharmaceutical markets, healthcare reforms and regulations across the globe over the last decade and how this has impacted mergers and acquisitions and venture capitalist investment in the sector. It reviews pricing and reimbursement policies and processes in the U.S. and Europe and the ways in which pharmaceutical investment in generics, biosimilars, over the counter (OTC), small molecule and biological agents; and the shift toward more innovative medicines such as cell and gene therapies may change future treatment paradigms and future pricing and reimbursement policies.
– An overview of the global markets for pharmaceuticals, specifically healthcare legislation and regulation, pricing mechanisms, and reimbursement procedures
– Analyses of the global market trends, with data corresponding to market size for 2014-2019, and projections of compound annual growth rates (CAGRs) through 2024
– Information on the current price and reimbursement landscape, benchmarking statics, and future development opportunities in the pharma industry
– Case studies of different price and reimbursement strategies for prescription drugs, orphan drugs, generics, over-the-counter products, and value-based pricing
– Discussion on the impact of COVID-19 on pharmaceutical sales in Q1 2020 and overall healthcare marketplace
– Insight into the greater adoption of value-based pricing schemes, with emphasis on the innovative payment models, increased investment in cell and gene therapies, and long-term response to COVID-19