Digital transformation of pharma
Digital transformation is reshaping how the pharma industry works. By
adopting new digital technologies across all business areas, pharma is
starting to better leverage data that supports their effort to break new
drugs into markets.
Market Access Managers can now access real-time, data-backed insights into
the best and fastest ways to deliver new drugs to patients around the
world. This takes a multifaceted approach, leveraging the storage,
analysis, and management of big data to improve global marketing as well as
support distribution logistics.
For example, professionals in this field of work will be able to access
smart analytics tools to input and analyse data on key areas, ranging from
coverage and reimbursement to payer policies, competition, and barriers to
entry. As digital transformation supports the input of real-time data from
many of these areas, this allows Market Access Managers to take action and
offer advice based on the most relevant and timely information possible.
Increasing competition
The pharmaceutical industry was reportedly
worth $1.42 trillion in 2021, making it one of the largest and most lucrative industries in the world.
So, it comes as no surprise that there are many businesses vying for an
increasing share of the pharmaceutical market, making it an incredibly
high-competition industry.
Of course, high competition means good business for Market Access Managers.
With competition ever increasing, so too will the need for the insights
that market access professionals provide their clients. In the coming
years, they will be further leveraged to assess markets and support
business efforts to better position products for success.
Greater drug price transparency
Global drug price transparency will
continue to be a major focus
in the pharmaceutical industry for years to come. This is primarily due to
pressure to improve affordability and boost the accountability of public
payers.
This marks a major shift for pharma companies that have traditionally kept
prices and discounts confidential. As new rules and regulations surrounding
price transparency come into force, it is likely that these companies will
no longer be able to use selective discounting in order to secure their
most price-sensitive clients. In these cases, Market Access Managers will
be leaned on in order to offer insight into better ways to engage and sell
to these clients.
Growing healthcare demand
A
recent report by Deloitte
highlights how demand for healthcare has grown exponentially since the
start of the COVID-19 pandemic. However, this isn’t just due to the
increased requirements for treating and managing the COVID-19 virus. The
pandemic has ignited a huge shift in how much pressure the healthcare
system is under, ranging from the mental and physical well-being of
healthcare staff to a growing need for virtual diagnosis and treatment of
patients.
Market Access Managers will play a key role in helping tackle new
challenges surrounding the growth of demand for healthcare across the
globe. This will include helping businesses quickly identify demands and
supporting their effort to quickly, smoothly, and safely meet those
demands.
Take your Market Access Manager career to the next step with IQVIA
There are some major challenges and changes on the horizon for the
pharmaceutical industry and Market Access Managers will continue to play a
major role in helping businesses overcome these in the coming years.
If you want to progress your exciting career as a Market Access Manager you
can review our latest
market access jobs
and start your application. We've also made a guide on how to prepare for a market access interview.
Alternatively, if you want to stay up to date
with all the best opportunities the industry has to offer, you can
sign up for alerts.
