RESEARCH TRIANGLE PARK, N.C. -- (BUSINESS WIRE) -- Pharmaceutical market access budgets for surveyed companies have increased 19% from 2011 to 2013.
“Market Access and Reimbursement: Demonstrating Product Value to Meet Payer Demands,” a study published today by Cutting Edge Information, discovered that the average market access budget increased overall since 2011, despite with a slight decline in 2012. These budget trends remain the same regardless of whether or not they include salaries and overhead costs.
Among US companies surveyed, budgets declined between 2011 and 2012. This shift corresponds with the 2012 patent cliff. Some surveyed companies downsized their budgets to brace themselves for patent expirations. Many US companies greatly increased their budgets after this cliff passed, explaining the jump in budget changes between 2012 and 2013.
Data show a large increase in market access budgets since 2012, however. Including salaries and overhead costs, budgets increased 19% in 2013 compared to 2012, and budgets without accounting for salaries and overhead increased nearly 30%. Large increases in market access budgets often result from launching new products. One surveyed pharmaceutical company doubled its market access budget between 2012 and 2013 because it had several products approaching registration.
Only a few surveyed companies decreased their market access budgets from 2011 to 2013. “Market access budget declines often result from larger company downsizing,” said Christie Shilling, research analyst at Cutting Edge Information. “For instance, a company we interviewed cut one-third of its market access budget between 2011 and 2013. However, during this period, a few of its products went off the market and another’s patent expired. However the majority of surveyed companies increased their market access budgets from 2011 to 2013.”
The new study “Market Access and Reimbursement: Demonstrating Product Value to Meet Payer Demands,” available at (http://www.cuttingedgeinfo.com/research/market-access/global-strategy-structure/), includes market access budget and staffing data. It also contains strategic recommendations for implementing market access activities and overcoming challenges to meet growing payer demands. Market access teams can use this report to:
For more information about market access benchmarking, contact Cassie Demeter at 919-403-6583.