Economic growth is correlated with increasing demand for health care, universal coverage and development of the health care systems, thus creating huge opportunities for companies specialising in medical technologies, such as those from the pharmaceuticals or medical devices industries. Companies in these industries are thriving from this increased demand across the Asia Pacific region, with heightened competition for innovative, cost effective and affordable solutions for patients.
Governments in the region are facing major public health challenges such as the transition in epidemiology - infectious diseases are still spreading or even emerging, chronic diseases are growing with lifestyle changes and aging. Scarcity of health care professionals, inadequate organisation of health care provision with insufficient primary care and outgrown hospital structures in some countries, geographical and social inequality across territories, as well as excruciating out-of pocket expenses for patients are also major health care issues plaguing the region.
To become part of the solution and not exacerbate the problem, companies need to be creative not only in terms of developing and launching new products or technologies which can fulfil unmet needs but also when integrating them in the health care pathways of patients. Furthermore, they need to demonstrate the value provided by these new products and services, most importantly for patients, followed by policy makers and payers. To ensure the right medication goes to the right patient at the right time to reap the maximum patient benefit, it is most important not only to supply safe and quality products meeting population needs, but also to train professionals, to educate patients, and to provide medical guides and communication tools during the care delivery process, whilst avoiding conflicts of interest and managing costs.
This holistic approach to market access is a challenge for companies, as it requires many talents - from biosciences, biostatistics, medical expertise to communication technologies, economics and public policy skills - to be conjugated in the design and commercialisation of integrated services around the core value of a medication treating cancer for instance, or an implantable device addressing cardiac failure. It requires a deep understanding of the specificities of each health care system, not only at the governance level but also at field level, to be able to contextualise the value proposition to best meet the needs of the patient, health care professional and payer.
The new MSc in Management of Health Industries, a specialised post-graduate programme launched by ESSEC Business School in Singapore, addresses this change of paradigm thoroughly by providing graduates and executives with the analytic skills to understand the diverse environments of the region, equip them with the technical tools for assessing the value of health technologies or health programmes, the management skills to design creative strategies and to implement them in multidisciplinary project teams.
Participants of the programme will not only bring operational, professional knowledge and skills to their jobs, but also the mind-set of embracing and adapting to change which employers crave for.
Annie CHICOYE, MSc Political Sciences
Executive Director Development, Institute of Health Economics and Management
ESSEC Business School
To learn more, please contact Annie Chicoye at email@example.com or visit
ESSEC | CPE Registration number 200511927D | Period of registration: 30 June 2011 - 29 June 2017