What is Market Access?
Market Access is a function within pharmaceutical and biotechnology companies responsible for ensuring that a new drug or treatment is available to patients in a particular market, typically by securing the necessary approvals, meeting regulatory requirements, and negotiating with Health Technology Assessment (HTA) bodies and payers (such as insurance companies or government healthcare systems) for coverage and reimbursement.
Market Access involves demonstrating the clinical and economic value of a product to various stakeholders, including HTA bodies, healthcare providers, payers and policymakers to gain favorable terms for distribution and pricing. It is a critical step in the commercialization of a pharmaceutical product, as successful market access ensures that the drug reaches the patients who need it while achieving the desired financial returns for the company.