Innovation indicators for healthcare in emerging countries | Whitepaper
Understanding and promoting innovation in emerging markets
Innovation plays a critical role in addressing global health needs. As chronic and communicable disease rates continue to climb, governments, private payers, and non-governmental organisations 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.
Meeting this challenge will not be an easy task, since the development of innovative solutions has become increasingly complex and costly. At the same time, the emergence of targeted medicine makes the prospect of “blockbuster” products and solutions much less likely.
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 the country.
For organisations located in both developed and emerging markets, emerging nations also represent an expansive and growing source of consumers, as they represent 80 percent of the global population. Catering to their growing health care needs, coupled with rising income levels, present new opportunities for business growth in emerging markets.
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).
A comparative assessment of innovation indicators for healthcare in emerging markets will be a valuable tool for those seeking to strengthen the pace and reach of innovation to meet pressing global health needs. 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, nongovernmental organizations, public and private payers, the healthcare 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. The scope of the study is solely focused on healthcare products and technologies, and does not seek to touch on healthcare delivery or services.
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