Report Description of the US 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 US 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 US 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
US Patient Support Program Market Analysis Executive Summary
Patient support programs help patients overcome barriers to adherence to prescribed therapy. One common hurdle in patient adherence is the need to assess and monitor lab values from blood draws. Lab workups may be necessary to determine a patient’s eligibility for treatment, to establish the proper dose, or to monitor safety for therapy maintenance. Unfortunately, the need to go to a lab to have blood drawn can add to the treatment barriers that already exist for a patient.
Market Size and Key Findings
The US Patient Support Program Market Analysis size stood at around USD 4.1% billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
It is expected to grow at a healthy CAGR over the forecast period. Rising geriatric population is one of the major market drivers. According to the United Nations (UN), geriatric population is expected to grow by 21.1% by 2030.
Market Dynamics
Market Growth Drivers Analysis
Rising geriatric population is one of the major market drivers. Geriatric population is highly susceptible to chronic diseases and therefore requires routine health monitoring. This factor is expected to positively influence market growth in the years to come. 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. This factor is anticipated to bode well for market growth. In the U.S., over one million adults are diagnosed with chronic brain diseases every year.
Market Restraints
Concerns over patient health data security are creating barriers in the transfer of this data among various stakeholders in the healthcare industry. This, in turn, is affecting patient engagement initiatives in various healthcare organizations and is limiting the adoption of patient engagement solutions among prospective end users.
Covid-19 Market Impact Analysis
The COVID-19 pandemic has made unprecedented consequences on daily lives in addition to the worldwide economy. A significant burden is formed on healthcare systems across the US. Providers, payers, and life science companies began looking for solutions to increase engagement with patients in various settings such as remote home monitoring, virtual consultations, and clinical trials. The pandemic and the resulting movement restrictions propelled the need to facilitate virtual communication between customers and their care providers. This led to a surge in demand for patient engagement solutions during 2020.
Competitive Landscape
Key Players
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.
Some Support Programs in US
- Aldurazyme® (laronidase) support
- ALPROLIX® [Coagulation Factor IX (Recombinant), FC Fusion Protein] support
- AUBAGIO® (teriflunomide) support
- Cablivi® (caplacizumab-yhdp) support
- CAPRELSA® (vandetanib) support
- Cerdelga® (eliglustat) capsules support
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
In January 2021, the Biden-Harris administration opened a “Special Enrollment Period”. Under this action, Americans to sign up for health coverage and roll back attacks on the Medicaid, Affordable Care Act, and access to reproductive health care.
In March 2019, the American Medical Association entered a collaboration with Patient Point with the aim to access point of care to help prevent the occurrence of cardiovascular diseases and type 2 diabetes. Using Patient Point technology, approximately 6,500 practicing doctors across U.S. are expected to educate individuals regarding disease prevention. Programs such as these are expected to drive market growth over the forecast period.
Government support is expected to drive the adoption of patient engagement solutions in the coming years. A recurring theme among service providers is the goal of “end to end” solutions. The meaning changes slightly from one vendor to another; in some cases, it includes patient support in clinical trials; in other cases it includes providing field sales support. This comprehensive approach has driven significant M&A activity in the past year:
- TrialCard, long known has a leading provider of copay support programs, acquired a closed-door pharmacy, PC Scripts in late 2018; it is now licensed in all 50 states to support free-drug programs and PAPs. In 2019, it acquired Rx Solutions, which offered both copay programs and support for clinical trial patients; Mango Health, a mobile-app developer in support programs, and Policy Reporter, a database developer of insurance and hospital formulary-practice data, used by pharma for market access research.
- Eversana, already a conglomeration of distribution, channel management and patient services, added Cornerstone Research Group, a Canadian specialist in health economics and outcomes research (HEOR) in October, Alamo Pharma Services and BexR Logistix Telesales, for field sales, in May, and Seeker Health, an analytics firm for identifying potential patients for trials, in late 2018. It also opened a new consulting practice early this year, Eversana Consulting, and a marketing services agency, Eversana Engage.
- Diligent Health Solutions, roughly a year old now, acquired WRB Communications, a patient-support call center, from Diplomat Pharmacy late last year; the acquisition returns a business that one of the principals of Diligent had sold to Diplomat in 2017. Diplomat itself, once the leading unaffiliated specialty pharmacy, was absorbed into Optum, one of the leading pharmacy benefit managers, earlier this year. (It’s also worth noting here that Optum also acquired another leading specialty pharmacy, Avella, in 2018.)
