Market Access Strategy: why is it important for pharmaceutical companies and how to improve it?
Market access strategy is significant to win in the target market. A good market access strategy enables pharmaceutical companies to provide safe and effective therapy to patients and realize economic success with demonstrated clinical value.
However, pharmaceutical companies may find a series of challenges when seeking market access:
- Limited knowledge of the regulations in the target market;
- Unfamiliarity with the procurement, pricing, and reimbursement policies;
- Inadequate understanding of supply chains and sales channels;
- Unclear profile of the patient group and unmet needs;
- Insufficient product differentiation, etc.
To address the challenges, BaiPharm can be your helpful regulatory partner. Instead of adopting the one-size-fits-all approach, we propose a customized strategy for each product based on our meticulous market research, deep understanding of regulations and policies, efficient communications with regulators, and close network with industry stakeholders.
We will leverage our expertise in assisting our clients to ensure quality management during the product’s whole lifecycle and boost sales after the commercial launch.
With rich experience in the pharmaceutical field and a reliable team of regulatory professionals, BaiPharm will ensure you understand regulatory requirements more accurately, grasp regulatory trends more quickly, and formulate product registration strategies more professionally.
- Pre-market research: investigating market size & trend, patient population, distribution, and needs, as well as competitive products;
- Regulatory compliance consulting: advice on global registration strategy, pre-clinical/clinical/CMC (chemistry, manufacturing and control) research, and marketing authorization application (NDA & ANDA) submission.
- Product registration: feasibility assessment for expedited approval, data gap analysis, communicating with the clients on revising the dossiers, translating and preparing the dossiers, and submitting the application to NMPA.
- Post-market management: preparing and submitting post-approval change applications, collecting adverse drug events (ADRs), composing periodic safety update reports (PSUR), and submitting annual reports.
Why Choose BaiPharm
Our experts have achieved a thorough understanding of pharmaceutical regulations and extensive experience to provide solutions across all critical stages in the drug life cycle. We’re committed to providing clients with professional and customizable pharmaceutical regulatory compliance services, including market access consultation and registration of prescription drugs, OTCs, APIs, excipients and packaging materials. Our constant driver is to ensure high-level professional and efficient solutions for pharmaceutical enterprises across the globe.
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