Innovation Indicators for Health Care in Emerging CountriesUnderstanding and Promoting Innovation in Emerging Markets |
Innovation plays a critical role in addressing global health needs. As disease rates continue to climb, governments, private payers, and non-government organizations will wrestle with how to provide, disseminate, and pay for adequate prevention and treatment. Increasing the development rate of effective and affordable innovations will be a key factor in addressing this issue, as will improving the diffusion of these innovations in markets throughout the world, but it will not be an easy task, with the rising cost and complexity of innovation.
Emerging markets play a key role in addressing the challenge – serving as a well-identified source of innovation for multi-national health care companies seeking to increase innovation capacity and/or reduce development time and cost. The health care and life sciences companies originating in emerging markets are also growing, building on local capabilities and offering advantages to potential partners related to talent, knowledge of local consumer preferences, and the ability to navigate regulatory processes within a country. Additionally, emerging nations represent an expansive and growing market, as they represent 80 percent of the global population.
For the governments of emerging market countries, the promotion of innovation offers the promise of addressing long-standing priorities such as communicable diseases (i.e. malaria, tuberculosis, and HIV/AIDS), as well as the increased incidence of chronic diseases brought on by changing lifestyles (i.e. diabetes and cardiovascular diseases).
This new Deloitte Research life sciences report outlines a proof-of-concept tool to benchmark emerging market countries based on each country’s ability to promote innovation relative to its peers. The study features 10 emerging market countries, with four developed countries to serve as a baseline for comparison. A mix of key emerging market countries from Asia, Eastern Europe, Latin America and Africa are included, as well as a group of “benchmark” developed countries.
The objective of this tool is to focus both public and private sector attention on the innovation issue and facilitate discussion and collaborative action among governments and regulatory agencies, non-governmental organizations, public and private payers, the health care and life sciences industry, the medical community, and patient groups. The pilot study is built around a framework that recognizes the broad range of components and conditions that are necessary to promote innovation in emerging countries.
Bob Go , DTT Industry Leader for Life Sciences & Health Care , together with industry leaders, presented the results of this research in January at the Healthcare Governors' meeting during the WEF’s 2009 Annual Meeting in Davos, Switzerland.
Learn more about Deloitte's participation at the 2009 WEF Annual Meeting .
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Innovation Indicators for Health Care in Emerging Markets
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