Pharmaceutical Manufacturing Predictions for 2018
Nov 2, 2017
Health care market trends have a direct impact on pharmaceutical manufacturers’ stakeholder interaction and value-based care agreements. Knowing those trends and planning around them will be key to pharma’s success. Industry analysts predict these three trends will dominate manufacturing in 2018:
1. Stronger Focus on Specialty Drugs & Rare Diseases
Specialty drugs will account for $240 billion in pharmacy revenue by 2021, according to a 2017 industry report from Drug Channels Institute. That’s more than double the $115 billion they generated in 2016. Orphan drug development for rare diseases is on the rise, with new strategies being developed to promote quick access and reimbursement.
2. M&A Trend Continuation
Over the next decade, nearly $17 billion worth of drug patents will expire. Manufacturers will need to replace that revenue with pipeline products. Look for expansion and rebranding.
3. Breakthrough Therapies for Chronic Disease States
Technologies such as molecular engineering, gene editing, and genomic technology are leading to exciting advances in specialty therapy. These drugs have made progress toward eliminating diseases such as cystic fibrosis.
EnvoyHealth: Helping Manufacturers Provide a Total Solution
Competition in these market spaces will intensify. Successful manufacturers will compete not only on the efficacy of their medications but also on the support services they can provide to ease patients’ journey with their drug. Engaging a third-party service provider helps manufacturers do just that.
EnvoyHealth provides customized patient support services for new-to-market and existing therapies. By partnering with us, manufacturers can deliver a complete therapy solution to their patients. EnvoyHealth’s credentialed and experienced staff streamline communication between stakeholders and mitigate barriers to treatment for a better patient experience.