Successfully getting cutting-edge therapeutics to market is a multi-faceted process. This interconnected process involves working across multiple activities in collaboration with all stakeholders to get therapeutics to the right people as quickly as possible – and in a cost-effective manner. While this process can be broadly defined as Market Access, it’s broader and more multi-layered than that. We believe this process can be categorized into 4 distinctive parts: traditional market access, health economics and outcome research, market research, and commercial/ strategy consulting. Below is a brief definition of each.
Market Access is the process by which products are launched to have the greatest impact for the greatest number of relevant people. Broadly speaking, it covers both physical and financial access to therapeutics.
Health Economics and Outcome Research is a discipline that is used to complement traditional clinical development information (i.e., efficacy, safety, quality) to guide decision makers regarding patient access to specific drugs and services
Market Research defines how many people a therapeutic can help. It also helps companies to determine the total value of the market.
Commercial/ Strategy Consulting are activities (i.e., strategic planning, product/ portfolio strategy, digital transformation, business development etc) that drive success in response to market trends, improve innovation, leverage digital and data opportunities, and develop strong portfolios and distinctive brand strategies that deliver value in an increasingly value-focussed life science/healthcare ecosystem.
Starting salaries within this market range from $75,000 to $100,000 annually. With three years of experience, you can expect to earn up to $140,000. Vice Presidents would expect a salary of $275,000 and beyond for director level roles.
An Analyst or Market Researcher with under 2 years’ experience would receive a salary of $60,000 to $80,000.
Each company structures their salary and benefits differently and some of the perks are fantastic!
We work with numerous consultancies as well as large pharmaceutical organisations throughout the world.