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HTAs, CGT Set to Rule Life Sciences Industry in 2023
BioSpectrum Asia
|January 2023
overnments and other payers make decisions ee the context of the broader economic environment. For 2023 we will continue to see the impact of these global economic trends on payer decisions as they increase financial pressure in the APAC region.
Global macroeconomic trends
Though inflation is expected to ease in 2023, the price increases of the past 12 months will still affect purchasing decisions.
The impact of these headwinds on payers will be a greater focus on cost containment and reduced budget impact. This will likely drive lower net prices as payers seek to claw back more from both previously and newly reimbursed products. In South Korea, for example, the method for calculating the foreign average drug price for referencing will be revised in 2023 to consider ex-manufacturer prices, exchange rates, value added tax, and distribution channels in each comparator country. In some markets we are also likely to see increased switching to lower cost alternatives such as generics and local/ regional products. Ultimately, there will be significant financial pressures that arise and continue into 2023 as a result of macroeconomic trends regionally and across the globe.
Health technology assessments
Overall governments are increasingly looking at and learning from each other in terms of health technology assessments HTAs).
In the mature markets, in which decisions are largely driven through established systems for HTAs, we see several continuing trends:
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