Launching novel oncology therapies in Asia: Identifying and communicating value
Novel cancer therapies are offering patients new treatments and better outcomes worldwide. Recent changes in healthcare policies across APAC have reignited interest in the region as a strong market for oncology, such as China's fast tracking approval of therapies for severe and rare diseases and Vietnam's plan to cover health insurance for 80% of the population. Unfortunately, the often eye-watering costs of these new therapies means that, currently, for the many patients who still have to pay for treatment out of pocket, novel therapies are beyong reach. Pharma brands need to demonstate clear value if they want to achieve success.
Patients’willingness to pay
Considerations when developing an appropriate pricing strategy in self-pay markets
When launching a new product, it’s critical that pharma chooses the right pricing strategy to achieve the optimal balance between sales volume and unit cost.
In emerging markets, pricing is made more sensitive by the fact that frequently a high proportion of healthcare costs are paid for out-of-pocket by consumers and their families, making them key decisionmakers. In the past, pricing models in emerging markets were often developed using patient affordability assumptions.
Live from Singapore: Understanding patient willingness to pay in emerging markets
What steps should pharma and medical device companies take to ensure they get their pricing strategy right in self-pay markets? Download this complimentary webcast in which our emerging markets experts in which our emerging markets experts Pei Li Teh and Nicole Bender Moreira will explore the key features of self-pay markets and outline the critical success factors for determining how pharmaceutical, consumer health products and medical devices should be priced.