10 Oct Japanese decisions in Prismaccess and Evalumade
Prioritis is pleased to announce the incorporation of Japanese reimbursement, price and access decisions in Prismaccess and Evalumade.
Japan is the world’s second biggest pharmaceutical market with a value of $94,025 million, behind only the USA.
It is one of the main players in the pharmaceutical industry and represents an increasingly influential HTA decision body.
With a pharmaceutical spending per capita at around $803 in 2017, the Japanese pharmaceutical sector is forecasted to reach $72 billion by 2021, representing 17% growth between 2011-2020 (GlobalData survey).
In Japan, the pharmaceutical market is very fragmented, with more than 100 domestic companies coexisting together. Multinational pharmaceutical industry keeps a watchful eye on Japan with the aim of entering its attractive market.
The market is moving away from a system that has historically provided a relatively favourable pricing and access framework to one that is likely to be more value-oriented and restrictive.
In 2016 the government launched a pilot HTA program to evaluate a small number of drugs and medical devices. The main criteria for their selection was the impact cost within the health care system. The final results will be used to adjust reimbursement prices in the 2018 price revision.
In march 2017, a subcommittee of Central Social Insurance Medical Council (Chuikyo), agreed to adopt a five-scale rating system to categorize the cost-effectiveness of drugs. The rating system will rate the incremental cost-effectiveness ratio (ICER) of a certain drug to one of the following categories “very good”, “good”, “acceptable”, “poor” or “very poor”, based on criterias that remain unknown. It is likely that Chuikyo will adopt a “willingness to pay” (WTP) threshold to be used as a predominant criterion in its rating.
The aim of this new systematic approach toward economic evaluation within HTA is to increase the efficiency and sustainability of the the health care system. The new system is expected to be implemented in 2019