IMPORTANCE OF DRIVING THE NEED FOR INNOVATIVE AND EFFICIENT SOLUTIONS ACROSS THE HEALTHCARE VALUE CHAIN

This, alongside collaboration among key stakeholders, is key to ensuring continued access to healthcare across communities in Asia

From the discovery of insulin and penicillin in the early 20th century, the pharmaceutical industry has come a long way in meeting the healthcare needs of the world’s populations. Rapid research and development of innovative drugs and therapies have countered the emergence of new diseases that threaten to have dire impacts on communities, especially those unequipped to address them.

However, with every new year that brings unprecedented opportunities for the industry, the landscape also grapples with the impact that external economic forces have on delivering healthcare. Inflationary pressures, rising costs and geopolitical headwinds have all had an impact on many industries, and the pharmaceutical sector is no different. There is a need for sustainable, innovative and efficient solutions across the healthcare value chain and it is critical that the industry stays focused on the end goal of providing greater access to high-quality healthcare for the people who need it most.

Complex challenges hindering access to healthcare in an evolving landscape
In a region as diverse as Asia, the challenges faced by each market in making healthcare affordable and accessible are as unique as the populations that live in them. With rising healthcare costs, changing regulatory and compliance standards and fragmented medical supply chains, ensuring that patients are able to access the medicines they need has been an uphill task for manufacturers, distributors, and healthcare professionals.

Affordability and inequitable distribution among developing and developed nations
Access to emerging innovations in the pharmaceutical space has been largely out of reach for developing nations, with reimbursement systems at varying levels of maturity in the region, placing greater burdens on the patient to pay out-of-pocket. With different levels of health financing from local governments as a result of a dependence on economic growth, the sustainability of widespread healthcare access can be challenging.

During the pandemic, many discussed the delay in access to vaccines for developing nations. Countries ranking lowest in GDP per capita were found to have waited the longest for COVID-19 vaccines as opposed to those with larger economies, despite the pandemic being indiscriminate in its toll on populations. Vaccine nationalism and a lack of universal healthcare have been two of the biggest reasons for why access across Asia Pacific was disparate, and three years on from the pandemic, access to the newest drugs and healthcare innovations paints a parallel picture.

Gaps in global healthcare supply chains
The last few years have revealed vulnerabilities in global medical supply chains, and several key challenges continue to make the delivery of healthcare less resilient to external shocks.
Supply networks have become more exposed to demand and supply fluctuations as a result of production concentration and a lack of diversification of supply sources. Extensive offshore sourcing of critical materials has also made supply chains more complex and fragmented, putting critical healthcare products at higher risk of production stoppages when faced with border closures.

Product availability is hindered when faced with no-fly zones during geopolitical turmoil, and natural disasters such as flash floods and earthquakes which can cause severe consequences for the ability to manufacture much needed healthcare supplies and products due to shortages in inputs. When coupled with protectionist measures and the imposition of movement limitations during exceptional circumstances, it is evident that the global medical supply chain is not prepared for long-term resilience.

In order to provide the high-quality care patients need, the intricate and complex web of suppliers, distributors, regulatory bodies and local healthcare providers need to ensure that they are properly resourced, and resistant to external shocks in the event of supply deficiencies or a spike in demand. Boosting supply reliability, operational efficiencies and ensuring that systems remain agile will be crucial.

Modern solutions for modern problems
From manufacturers and distributors, to healthcare providers, ensuring sustainable access to healthcare for patients requires a collective effort. It is critical that businesses in the industry work collaboratively towards a shared goal of strengthening health systems and healthcare delivery. Rome was not built in a day, and the same applies for solutions that are geared to solve complex, evolving challenges.

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