The Third Sector A growing opportunity in the pharmaceutical market?
SummaryThe Third Sector, A growing opportunity in the pharmaceutical market?
The IMS Thought Leadership team have defined an emerging “Third Sector” of pharmaceuticals; valued at $24.7 billion in 2013 and growing at an incredible rate, this developing sector offers squeezed healthcare budgets an attractive alternative to the current Big Pharma vs Generics proposition.
- The ‘Third Sector’ claims a market of almost $25 billion, making it 32 times larger in value than the global biosimilars and non-original biologics market.
- Third Sector products successfully offer a better range of treatment options for patients at reduced costs compared with Big Pharma.
- Future success relies on regions adapting regulatory pathways to allow for treatment approval – the US has successfully done this and dominate 47% of Third Sector treatment sales in 2013.
- Mundipharma’s asthma treatment ‘Flutiform’ is included as a treatment case study, as a product which not only addresses an unmet patient need, but also creates a value proposition for payers by combining two existing active ingredients in a new patient friendly modern aerosol inhaler.