Challenges Associated with Market Access

The barriers that exists to market entry will often vary from one product to another, however, there exist some general challenges that are common to all products. These challenges that are indicated through the field-based research, will need customized and detailed responses and will be driving your marketaccess strategy.

Here are some common field-based challenges associated with market access strategy:

• Securing funds for a pharmaceutical product

• Securing fund for a product that is still awaiting review by HHS

• Ensuring an effective implementation of HHS guidance

• Ensuring that the HHS has sufficient financial and/or service plans to support managed entry of the new product(s) into the market

• Lack of appropriate clinical demand having an impact on the funding for the pharmaceutical product

Here is a simple guide to creating a good market access contact strategy:

• Start with mapping the local environment and understanding it – local processes that are in place, customers who are involved, payersegmentation, their spheres of influence, the decision makers, implementers and key influencers.

• Understanding their local priorities – their key challenges, their main objectives and the information that they like/need and at what time.

• Tailoring the messages as per the requirements of the payers – different payer will be needing a different kind of approach.

In order to achieve greater success in today’s healthcare sector and pharmaceutical industry, it is critical that one has a good understanding of the marketplace, the influencers, as well as the key influencers, their requirements and objectives, and the knowledge of the how funding works in your area of expertise, and also an understanding of barriers your product may encounter.