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All the more so as the market continues to skew towards high-priced specialty drugs. That includes the emerging category of cell and gene therapies (CGTs), which present particular challenges to health technology assessors. Unlike conventional drug treatments, CGTs may be able to resolve diseases with a single procedure. Yet they do so at considerable cost, and with limited evidence to date of real-world consequences for patients and health systems.
At the same time, the fundamentals for an increase in successful pharmaceutical product launches in 2022 are already in place. These include higher volumes of new drug approvals in both the European Union and United States during 2021, despite COVID-19 disruption. There was also healthy growth in the pharmaceutical R&D pipeline, albeit at around half the pace of 2019/2020. But even without COVID-specific additions, pipeline growth would have matched the previous year’s performance.
Moreover, Informa Pharma Intelligence tracked 82 launches of new active substances in 2020, considerably more than the 49 recorded in 2019. This revitalised launch flow is reflected in some quite optimistic projections for pharmaceutical market growth worldwide over the coming years. For example, IQVIA is looking at a compound annual growth rate (CAGR) of 3–6% in 2022-2026, while Evaluate Pharma believes global CAGR will reach 6.4% between 2021 and 2026.
These are all good signs. They do not in themselves guarantee launch excellence, though. As we noted in our recent review of pharma trends for 2022, in a COVID-persistent marketplace, innovation needs to be matched by greater agility in the actual product launch plan and its implementation.
Agile launch execution is drawing on pandemic-accelerated trends enabled by digital transformation. Among these are a reconfiguration of the stakeholder hierarchies and communications channels involved in the pharma product launch process; increasing recourse to multichannel or omnichannel promotional strategies; and the need to enhance or maintain the value of new medicines in 2022 with cumulative real-world evidence post-launch.
These are just some of the key challenges and opportunities facing drug launches in the year ahead. Download and read our new report below to understand how global product launches in pharma are learning to live with, and indeed learn from, COVID-related disruption. And discover how SmartLaunch™ - our agile launch execution platform - can help you drive agility, transparency, efficiency and collaboration across your global launch teams, making 2022 a landmark year for your new product launches.
TRiBECA® Knowledge provides pioneering software to some of the world’s leading pharmaceutical companies, to help them make the most of product launches, market access and commercialisation.