News and Insights
The Numerof 2021 Global Pharma Outlook
As our Numerof 2021 Global Pharma Outlook infographic illustrates, this year’s story for pharmaceutical manufacturers will be about continuing to adapt to pressures on price and demands for value while also addressing new challenges presented by the pandemic. This will create the need for changes in current roles and external relationships. You’ll continue to engage in new and different ways with healthcare delivery, physicians, regulators, public and private payers, consumers, employers, retail clinics, and even medical device manufacturers.
Covid-19 has redefined expectations for drug development meaning companies may face competition more quickly than before. In light of supply chain challenges that occurred, it is expected that regulators will continue tough enforcement, including coordinated global supply chain oversight and data requirements. In the EU, expect direct pricing agreements, price controls, as well as reference and risk-based pricing, and access limits. In the U.S., political and legislative actions will create risk and opportunity. Globally, demands will increase for transparency, real world evidence, and comparative effectiveness research.
Payer, PBM and employer pushback on drug prices will continue to intensify, as will efforts to create new reimbursement approaches. Still, collaborations by manufacturers with payers and providers on data sharing and real world evidence will grow. Consumers will get even more engaged as they pay more of the cost, although adherence will continue to be both a major challenge and opportunity.
Access restrictions will continue in healthcare delivery. Anticipated challenges include continued efforts to centralize buying decisions in cross functional committees, and additional restrictions regarding customer engagement. U.S. integrated delivery networks (IDNs) will expand their influence over outpatient prescribing, as they move to value-based payments and go at-risk for patient outcomes. Systems will try to influence product decision-making as they try to gain control over variation in cost and quality.
Given this outlook, what’s next? We recommend these key action steps:
- Redesign commercial models, targeting and segmentation to reach key customers & decision makers
- Align R&D, Medical Affairs, and Commercial functions
- Develop high value products/services backed by evidence
- Craft compelling economic & clinical value propositions
- Recruit, train talent to engage executive decision makers
- Elevate business acumen, diagnostic, and influence skills
- Create collaboration opportunities with providers, payers, and market disruptors
At Numerof & Associates, we help pharmaceutical manufacturers achieve these key action steps for success in today’s evolving healthcare landscape. From competitive strategy and ensuring evidence to demonstrate value to commercial model innovation and implementation we have solutions. Read more about our perspectives and solutions for the pharmaceutical industry and see our case studies.