US Pharma Market: Market Access and Overall Trends Update H1 2022

AHMEDABAD, GUJARAT, INDIA, October 7, 2022 /EINPresswire.com/ -- Pharma and Life Sciences companies operate in a highly dynamic and unpredictable environment, and the Covid-19 pandemic only brought to light what has always been true for the players in this sector. As the game shifts towards more data-driven approaches across the value chain, greater collaborations, digital transformation and AI-based innovations in care delivery are becoming commonplace. Pharma players are optimizing their market access strategies to take advantage of the many opportunities the pandemic has surfaced and accelerated.

Surviving and thriving in a VUCA (volatile, uncertain, complex, and ambiguous) healthcare industry is largely about staying strong in the face of rampant mergers and acquisitions, rapidly evolving regulations, and leading-edge innovations. The US Pharma market is an excellent example of this.

Healthark Insights is involved in closely observing and tracking the evolving US Pharma landscape, and has released a report on the status quo of the healthcare sector, exploring six macro trends and the constituent events. This report titled 'US Pharma Market: Market Access and Overall Trends Update H1 2022' is available on our website.

Some major drug patents like Humira will expire (in 2030) leaving a negative impact on the owners. Industry is predicted to see significant M&A activity to acquire products with active patents in the market or pipeline to compensate for the loss caused due to expired patents. Despite a rather slow start, M&A activities are expected to pick up pace in H2 2022, as bio-pharmas have $1.7 Tn to shell out on deals this year.

Health tech companies raised nearly $40 billion in funding in 2021, and the investment figures have more than doubled in comparison to 2020. Personalized medicine, predictive medicine using medical databases, AI and ML, and digital simulations are some of the key areas of investors’ interest. The 3 largest PBM players, CVS, Optum & Express Scripts control 77% market share and their actions will continue to influence the market significantly in face of consistently rising drug prices.

R&D activities and expenditures by large Pharma are on the rise as they witness a friendlier regulatory environment and approval processes. The return on investments in R&D for pharma has seen an uptick in 2021, and is the highest since 2014, again driving strong investment.

Companies are building on these trends by analyzing the dynamics of therapeutic areas, monitoring competitor’s updates to understand the market mood, and rejigging their product portfolio. With intensified pressure to address gaps in the healthcare continuum, innovators and researchers are driven to bring in their A-game. In the year ahead, forward-looking companies will adopt a data-driven and patient-centered mindset. It will be interesting to see how technology would augment human capabilities and improve processes to make this a reality.

About Healthark Insights

Healthark Insights is a global management consulting firm developed by a team of experts from diverse fields such as consulting, pharma, medicine, medical devices, digital health, public health, and management with a common vision to cater to the healthcare and life sciences industry, along with a relentless focus on delivering executable solutions.

Healthark Insights team helps customers make critical decisions every day through expertise that combines deep domain knowledge, rigorous research, and analysis, understanding of markets, technology, and experience. With the right experience and expertise, the team not only provides insights but also works closely with clients to execute the strategy that they have helped develop.

Purav Gandhi
Healthark Insights
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