Report Description of the Australia Patient Support Program Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Australia Patient Support Program Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Australia Patient Support Program Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
Australia Patient Support Program Market Analysis Executive Summary
A privately-operated set of services designed to support a patient through a number of therapy-related needs. PSPs are increasingly viewed as a means of ensuring products perform as designed in a complicated and fragmented health system. Patient support programs help patients overcome barriers to adherence to prescribed therapy. Patient Support Program are a key part of mobile health technology. Healthcare providers engage with patients during routine exams and when problems arise. Patient engagement solutions offer frequent monitoring of patient health and compliance, with real-time reporting to clinicians and rapid feedback to the patient. Ultimately, this can result in fewer office visits, procedures, and hospitalization.
Market Size and Key Findings
The Australia Patient Support Program Market Analysis size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Market Growth Drivers Analysis
Patient support market is driven by rising chronic disorders and the aged population in the region. The rising adoption of mobile health solutions through various apps and software elevates the demand of the market. Increasing prevalence of chronic conditions directly impacts the volume of surgical procedures. With the benefits like faster recovery time and reduced hospital stay and effects; robot-assisted surgeries are expected to witness a surge in demand over the forecast period.
Lack of Skilled analysts, lack of awareness among people in rural areas, and profound concern about patient health data and health information are hampering the growth of Patient support market. In addition, the protection of patient information and the absence of health literacy in undeveloped countries are limiting the market’s growth.
Covid-19 Market Impact Analysis
Due to Covid-19, The National health commission has taken the initiative to use patient comfortable treatment mode at home. Also, healthcare industries have started to develop new innovative software and services, which is driving the market’s growth.
McKesson Corporation (US), Allscripts (US), IBM (US), AdvancedMD (US), Cerner Corporation (US), Epic Systems Corporation (US) are the dominating players of the patient engagement solutions market.
Products in Pipeline
- For instance, in 2018, the FDA established the Patient and Caregiver Connection program. The program was aimed to foster engagement with patients, patient advocates, and caregivers throughout the evaluation and surveillance of medical devices.
Notable Recent Deals
- For example, in June 2019, Allina Health launched a patient-centric engagement solution platform for improving the Diabetes Self-Management Education (DSME) program. This enables diabetic self-care clinical services, particularly for those located in remote locations.
- In 2019, IQVIA launched an innovative cloud software-as-a-solution (SaaS) solution called Orchestrated Patient Engagement, which is designed to gather insights and connections, and bridges the communication gap between patients and life sciences firms.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
AbbVie’s patient support and services go far beyond basic disease information with support programs that enable them to remain as active and independent as possible and ensure optimal care.
- Support of a program to help men with prostate cancer not only to manage their condition, but also gain strength, stamina and confidence in a community-based exercise program.
- Support of people living with chronic inflammatory conditions, such as rheumatoid arthritis and Crohn’s disease, by providing psychological support and helping them to set health goals and stay on the path to wellness.
Compassionate access to medicines for patients in need is in accordance with TGA regulations. These patients may be unable to gain access to AbbVie medicines through reimbursement, and in a large number of cases AbbVie continues to provide these medicines for free for many years with no prospect of reimbursement. As part of AbbVie’s commitment to patient care we have provided free of charge medication to more than 3,700 patients in need across Australia and New Zealand since 2014.
Novartis is supporting patient groups. These groups play a vital role in educating and supporting patients and we remain mindful of their independent perspectives with regard to diseases and their related treatments. In Australia, Novartis follows the principles of ‘Working Together: A Guide to relationships between Health Consumer Organisations and Pharmaceutical Companies’ – created together by Medicines Australia and the Consumers Health Forum. A copy of the guide can be found on the Medicines Australia website. Novartis is committed to maintaining a transparent working relationship with patient groups. To ensure transparency, we disclose support to healthcare organisations through the Medicines Australia transparency reporting.