Trends in Global Tendering 2024 & how to shape them: A recap of World EPA Conference

Mar 21, 2024
Trends in Global Tendering | Cube RM Tender Management

Last week, industry leaders convened at the World Evidence, Pricing and Market Access Conference in Amsterdam to discuss the latest trends & challenges in evidence, pricing, and market access in the pharmaceutical & biotechnology sector. The conference shed light on several important themes that are shaping the future of the industry:

From product access to patient access: A standout topic of the conference was the clear focus of industry leaders to enhancing access & health outcomes for patients. There’s a growing recognition that market access strategies need to adopt a more comprehensive approach, considering the various challenges patients face, prioritizing patients’ needs and addressing all barriers to access.

Pricing challenges call for new pricing strategies: The pharmaceutical industry faces pressing challenges in pricing as the need to reduce drug costs intensifies and there is a growing public demand for more accessible and cost-effective treatments. There is also a notable shift towards value-based pricing models, reflecting a broader trend in healthcare towards outcomes-driven approaches. Patients, healthcare providers, and payers alike are increasingly seeking transparency and visibility into the factors that influence drug pricing. This push for greater transparency underscores the importance of aligning pricing strategies with the value delivered to patients and the healthcare system as a whole.

Emergence of AI and digital health technologies: The integration of Artificial Intelligence (AI) extends beyond drug discovery and research & development, encompassing various operational, commercial, and marketing functions. AI plays a pivotal role in streamlining operations, optimizing supply chains, and enhancing manufacturing processes, thereby improving efficiency and reducing costs throughout the pharmaceutical value chain. Moreover, AI-driven insights map commercial and marketing strategies, enabling pharmaceutical companies to gather market intelligence, identify market trends, target audiences, and personalize engagement with healthcare professionals and patients. Discussions during the conference underscored the imperative to optimize policy, access, value, and evidence strategies for digital health technologies, recognizing their accelerating role in transforming patient care and healthcare delivery.

Key Insights from our presentation: Trends in Global Tendering 2024 & how to shape them

During the conference, Cube RM’s Chief Commercial Officer, Nico Bacharidis, delivered an insightful presentation on healthcare tender trends, emphasizing proactive strategies for a sustainable market. Here are the key takeaways from the presentation:

Global Trends in Tendering: Trends are slowly starting to shift from price-driven to more holistic approaches that consider factors beyond just cost. Currently in many countries, tenders are still very price-driven, which can lead to an unattractive and unsustainable market. The importance of proactively shaping the way pharmaceuticals are procured, if we want to move forwards to a more attractive and sustainable market, is clear.

Trends for 2024: Several trends are expected to shape tendering in 2024, including the transition from winner-takes-it-all to multiple winners, the shift towards cross-national procurement, the rise of on-patent tendering, the increase in supply-related award criteria and the use of data to help reinforce the integrity of the bidding process. Moreover, as the sector is expanding, there is an increasing use of tendering for digital health solutions.

Tender Shaping Strategies: There are multiple ways that a tender can be shaped and optimized. It is not “just” shaping away from price, but there are other options. Emphasis should be placed on understanding customers and identifying stakeholders to effectively shape tender processes.

Ready to dive deeper into the future of tendering? Unlock the full insights into tender trends by downloading our EPA presentation.

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