Asia Market Entry – Opportunities & Challenges
A continent of extremes, with great potential for growth
Asia is a continent of diversity. Geographically large, the assortment of cultures, people, disease profiles, and healthcare systems added to the juxtaposition of extreme wealth and extreme poverty, emphasises the many challenges faced by the pharmaceutical companies when thinking of entering Asia. Countries such as Russia, India and China have traditionally been considered the key players in emerging markets.
However, vigorous economic growth, government healthcare reforms, population growth, increasing per capita income and changing disease profiles have led to a greater demand for healthcare and pharmaceuticals across other markets in the continent – nowhere more so than the 10 countries that comprise the Association of Southeast Asian Nations (ASEAN) – Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Myanmar, Cambodia, Laos, and Vietnam.
The ASEAN countries have a combined population of more than 625 million, nearly double that of the United States and more than 120 million higher than that of the EU. Topping $2.3 trillion, with a GDP per capita of US$3,748, their combined GDP is equal to around one-quarter that of China, and the region saw GDP growth of about 7% in 2013, compared with negative growth in the EU and approximately 2% growth in the United States1.
This opens a huge opportunity for pharmaceutical companies, amidst increasingly complex and evolving healthcare systems. Commercial success will depend on understanding the market dynamics by consolidating positioning within the market place with the requirements of each market.
Peter Hempshall, CEO of Deallus, is partnering with Rita Numerof, Founder & President of Numerof & Associates, for a discussion series centered on the lasting impact that COVID-19 will have on business models in the healthcare industry. Tune in to be part of a discussion on how the pandemic has accelerated key market shifts, how organizations will need to operate differently, and what solutions can be offered for successfully moving businesses forward in this new reality.
We are very pleased to welcome Yacine Amrani to our Deallus team as Senior Principal. Yacine brings a strong background in Market Access, pricing and U.S. Managed Markets including extensive payer, access, pricing and reimbursement capabilities. Yacine has led engagements across multiple therapeutic areas both in the U.S and overseas for leading pharma players as well as biotech firms.
As the COVID-19 pandemic continues to impact patients, healthcare systems, and global economic outlooks, we focus on the key considerations and strategies for pharma companies when the data generation for possible therapies is becoming increasingly complex to analyze. There are several COVID-19 treatment and vaccine databases containing an aggregation of publicly-available information from validated sources detailing treatments and vaccines currently in development.
As COVID-19 continues to disrupt normalcy across the globe, China is responding with innovation in online health delivery and telemedicine. How has China encouraged telemedicine uptake? What are the factors contributing to China’s relatively quick utilization of telemedicine in the face of COVID-19? And what learnings can we gain from taking a closer look? We explore these questions in our latest addition to our COVID-19+Pharma Series.