Big Data generated across diverse fields of clinical medicine are increasingly becoming accessible across some of the most rapidly developing world regions. This is particularly the fact with Asia-Pacific region of Asia or „APAC“. It is now positioned as the second largest global market for pharmaceuticals and medical devices, behind North America while overrunning pace of development in Western European EU5 pharmaceutical markets. Competitiveness of multinational pharmaceutical manufacturers based in this region is documented by recent 2021 rankings of even four Chinese companies (Sinopharm, Guangzhou Pharmaceuticals Corporation, SPH and Yunnan Baiyao) among Top 25 as per their annual net revenues. Longterm forecasts predict that pharmaceutical expenditure will continue to rise faster then real GDP growth across APAC. Population aging is entering an advanced stage which increases the likelihood of an increased number of middle class citizens. Their purchasing power contributes to the strong demand for innovative pharmaceuticals. Many of these cutting-edge medicines ranging from monoclonal antibodies to targeted oncology are blockbuster drugs leading to ultimate budget impact and prohibitively expensive reimbursement prices.
This phenomenon has forced Japanese authorities to explore the Korean Health Technology Assessment historical legislation and introduce cost-effectiveness based resource allocation and annual price cuts. Similar measures at the large scale are currently being undertaken in mainland China to tackle the drug bill and impose cost containment. Diverse reimbursement approaches and comprehesive insurance coverage is extended covering increasing share of Chinese suburban and rural populations. The similar chain of events are now taking place across ASEAN countries. National authorities across APAC, primarily Ministries of Health, Social Insurance Funds and Medicines Approval Agencies are coupling forces to adopt a lot of improved legislative framework for the upcoming 2020s. Pharmacoeconomics analytical capacities and understanding of Cost-Effectiveness based resource allocation is getting firmer foothold in the policymakers mindset across Western Pacific.
All of these profound changes imply acceleration of the widespread understanding of Big Data sets and adoption of theory and practice of Pharmacoeconomics and Value-based healthcare. We decided to launch this Topic in order to attract a vast array of contributions from the interdisciplinary health sciences reflecting to Asia and other world regions facing similar challenges. Contributions across all types of Frontiers designated sorts of articles are welcomed.
Big Data generated across diverse fields of clinical medicine are increasingly becoming accessible across some of the most rapidly developing world regions. This is particularly the fact with Asia-Pacific region of Asia or „APAC“. It is now positioned as the second largest global market for pharmaceuticals and medical devices, behind North America while overrunning pace of development in Western European EU5 pharmaceutical markets. Competitiveness of multinational pharmaceutical manufacturers based in this region is documented by recent 2021 rankings of even four Chinese companies (Sinopharm, Guangzhou Pharmaceuticals Corporation, SPH and Yunnan Baiyao) among Top 25 as per their annual net revenues. Longterm forecasts predict that pharmaceutical expenditure will continue to rise faster then real GDP growth across APAC. Population aging is entering an advanced stage which increases the likelihood of an increased number of middle class citizens. Their purchasing power contributes to the strong demand for innovative pharmaceuticals. Many of these cutting-edge medicines ranging from monoclonal antibodies to targeted oncology are blockbuster drugs leading to ultimate budget impact and prohibitively expensive reimbursement prices.
This phenomenon has forced Japanese authorities to explore the Korean Health Technology Assessment historical legislation and introduce cost-effectiveness based resource allocation and annual price cuts. Similar measures at the large scale are currently being undertaken in mainland China to tackle the drug bill and impose cost containment. Diverse reimbursement approaches and comprehesive insurance coverage is extended covering increasing share of Chinese suburban and rural populations. The similar chain of events are now taking place across ASEAN countries. National authorities across APAC, primarily Ministries of Health, Social Insurance Funds and Medicines Approval Agencies are coupling forces to adopt a lot of improved legislative framework for the upcoming 2020s. Pharmacoeconomics analytical capacities and understanding of Cost-Effectiveness based resource allocation is getting firmer foothold in the policymakers mindset across Western Pacific.
All of these profound changes imply acceleration of the widespread understanding of Big Data sets and adoption of theory and practice of Pharmacoeconomics and Value-based healthcare. We decided to launch this Topic in order to attract a vast array of contributions from the interdisciplinary health sciences reflecting to Asia and other world regions facing similar challenges. Contributions across all types of Frontiers designated sorts of articles are welcomed.
