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At the beginning of 2023, China's pharmaceutical market revealed hope for recovery
.
The three years since the new crown epidemic have also been three years
of rapid growth and continuous change in China's pharmaceutical market.
Benefiting from the economic volume and population base, the underlying demand for the development of China's medical and health industry is still increasing
.
At the same time, the aging of the Chinese mouth structure has greatly increased the treatment demand in the field of tumors and chronic diseases, and the economic development and improvement of living standards have also made Chinese patients actively seek better treatment options, and the acceptance of innovative drugs and advanced treatment methods in the Chinese market is gradually increasing
.
.
In recent years, driven by medical policy reform, annual medical insurance negotiations have included more innovative drugs in the scope of medical insurance reimbursement, improving the accessibility of drugs and rapidly opening up the market
for innovative drugs.
The development of supplementary commercial insurance, the construction of hospital infrastructure, and the improvement of China's medical service level are creating more favorable conditions
for the future development of China's pharmaceutical market.
Standing at the beginning of the new year, IQVIA summarized the significant changes in China's pharmaceutical market in recent years as "three accelerations": accelerated new drug launches, accelerated access to medical insurance, and accelerated
competition.
competition.
·
Accelerated launch of new drugs: Since the reform of drug review in 2015, the clinical trial application and new drug review process in China has been greatly shortened, and the time gap between the Chinese and global marketing of innovative drugs and devices has been greatly shortened under the premise of ensuring safety, efficacy and quality management, and there is even an opportunity to achieve synchronization
.
·
Acceleration of medical insurance: From the perspective of the speed of innovative drugs entering medical insurance, the time from product launch to medical insurance has been greatly shortened from the original 4-5 years to about 1 year now; Even some new drugs can be insured in the year they go on the market; Although price pressure will inevitably be faced in medical insurance negotiations, due to the market volume brought by the inclusion of medical insurance, the overall sales of innovative products after entering medical insurance will rise rapidly, and the speed of peak will become faster
and faster.
·
Accelerated competition: It is precisely because of the policies and environment that encourage innovation that more and more pharmaceutical and device companies are accelerating the layout of R&D and commercialization
.
Biosimilars and competition with similar products have greatly shortened
the time for the first product to be market-exclusive.
In some hot fields, such as ALK, PD-L1, etc.
, the competition of innovative drugs has become a red ocean
.
Combined with the influence of the above three important factors, for innovative drugs and devices, the product life cycle is undergoing fundamental changes
.
In the past, due to the slow speed of listing and the long waiting time for medical insurance, companies had a long window of time to cultivate the market; In the past, there was no "patent cliff" in China
.
However, in the current environment, the product life cycle accelerates into a period of growth and peaks rapidly; With the competition of local R&D and the collective procurement after the expiration of patents, the product life cycle of innovative drugs and devices in China is being greatly shortened, which poses new challenges
to pharmaceutical and device companies committed to pioneering and innovative.
for pharmaceutical and device companies committed to pioneering and innovating.
Figure 1: Changes in the product life cycle in the new market environment
Figure 1: Changes in the product life cycle in the new market environment
IQVIA believes that the key to meeting the challenges of innovative pharmaceutical device companies lies in early pre-market preparation, interlocking commercialization strategies, reshaping the market environment, and evidence preparation
for new drug review and medical insurance negotiations.
In this context, the Guangdong-Hong Kong-Macao Greater Bay Area and the Hainan Pilot Zone will play their unique role with the early first-to-market policy to help innovative pharmaceutical and device companies "grab" the Chinese market and optimize the whole product life cycle
by taking advantage of the "first-mover advantage".
Figure 2: Opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area and the Hainan Pilot Zone
Figure 2: Opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area and the Hainan Pilot Zone
The use of globally approved innovative pharmaceutical and device products in the Guangdong-Hong Kong-Macao Greater Bay Area and Boao, Hainan, allows doctors and patients to gain early medication experience, shape the reputation and brand effect of new products as soon as possible, and open a time window before launching in China; At the same time, real-world data generated in the Greater Bay Area and Hainan will also help accelerate national review and health insurance negotiations
.
A series of combination punches will help enterprises create a "first-mover advantage" to optimize the product life cycle, so as to produce "qualitative" changes
in the development of innovative drugs and devices commercialization in China.
Figure 3: Leveraging the Guangdong-Hong Kong-Macao Greater Bay Area and the Hainan Pilot Zone
Figure 3: Leveraging the Guangdong-Hong Kong-Macao Greater Bay Area and the Hainan Pilot Zone The Guangdong-Hong Kong-Macao Greater Bay Area is associated withOptimize product lifecycles for innovative pharmaceuticals and devices
Optimize product lifecycles for innovative pharmaceuticals and devices
In the early market process, IQVIA will provide "end-to-end" full-process services
for international innovative pharmaceutical and device enterprises.
These include: introduction of new drugs, recruitment of experts and patients, diagnosis and treatment and commercial insurance services in the GBA/Hainan, exchanges between doctors from Hong Kong, Macao and the Mainland, and management and follow-up
of patients after discharge.
for international innovative pharmaceutical and device enterprises.
Figure 4: IQVIA "end-to-end" end-to-end services
Figure 4: IQVIA "end-to-end" end-to-end services
Among them, patient recruitment and whole-course management will be the core links
to unleash business potential.
IQVIA launched patient recruitment and management services that can be customized for innovative pharmaceutical and device products, helping enterprises to firmly establish a solid presence in the Greater Bay Area and Hainan, and complete the early preparation
of data collection and commercialization with the support of sufficient patient flow.
We screen patients across the country according to product characteristics, establish target patient portraits with companies, and communicate referral intentions through the first doctor, assist in the referral process, and manage patients in the later stage
.
In this process, IQVIA will also help enterprises cultivate in-depth partnerships with first doctors and referral doctors, help accumulate early drug experience, and lay a solid foundation
for the national launch of products in the future.
Figure 5: Customizable patient recruitment and management services
Figure 5: Customizable patient recruitment and management services
At the same time, with cooperation with regulatory authorities, CR Pharmaceutical, and insurance companies including Taikang, IQVIA will open up the value chain from product to market, help innovative pharmaceutical and device companies explore new business models through a full range of services, and release the potential
of the Chinese market with diversified commercialization methods and paths.
Figure 6: IQVIA's innovative business model connects the value chain
Figure 6: IQVIA's innovative business model connects the value chain
2023, new hope, new beginning
.
Aware of the changes in the product life cycle brought about by the market environment, IQVIA believes that innovative pharmaceutical and device companies should seize the opportunity of going public in the Greater Bay Area and Hainan Boao, and formulate an overall strategy that is comprehensively considered at an early stage, including: product positioning and planning, accelerated review path, medical insurance negotiation or commercial insurance innovative payment strategy, and post-listing commercial operations, combined with patient medical data and early accumulation of doctor resources, to formulate a more comprehensive and multi-departmental coordinated excellent listing plan
.
.
