What trends must every market access manager keep an eye on?

A Market Access Manager’s role is centered around supporting clients as they prepare and launch drugs into the market. Great Market Access Managers provide deep and data-backed insight into the best way to gain market share and drive profits. Developing a deep understanding of the market and the latest trends is an essential part of developing your value and progressing your career as a Market Access Managers.

In this article, we offer insight into some of the most important trends that Market Access Managers should be keeping their eye on. We also provide guidance on the best places to go if you are looking to start or progress your Market Access Manager career.

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.