Accessing Global Healthcare: The Role of Innovation The International Economic Forum of the Americas Palm Beach, April 7, 2014 Murray Aitken, Executive.

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Presentation transcript:

Accessing Global Healthcare: The Role of Innovation The International Economic Forum of the Americas Palm Beach, April 7, 2014 Murray Aitken, Executive Director

Palm Beach Strategic Forum TRANSFORMATIVE INNOVATION ACROSS HEALTHCARE Predisposition Wellness DiagnosisTherapy Rehabilitation Monitoring Integrated Healthcare In vitro diagnostics Genomics In vivo diagnostics Medical devices Pharmacotherapy Regenerative/tissue engineering Remote Monitoring/ Telemedicine Surgery Behavioral diagnostics 2 Informatics

GLOBAL LAUNCHES OF NEW MOLECULAR ENTITIES Palm Beach Strategic Forum Source: IMS Institute for Healthcare Informatics, October 2013 GLOBAL NME LAUNCHES New therapy options: Rheumatoid arthritis Cystic fibrosis Melanoma Breast cancer Ovarian cancer Multiple sclerosis Heart failure Hepatitis C Malaria Many rare diseases Etc.

ESTIMATED TOTAL SPENDING ON MEDICINES IN 2014 Palm Beach Strategic Forum $1 Trillion 4 North America $373 Bn Central & Latin America $80 Bn Africa $23 Bn Europe & CIS $253 Bn Asia & Oceania $270 Bn Middle East $18 Bn

ANNUAL AVOIDABLE HEALTHCARE COSTS DUE TO MEDICINES NOT BEING USED RESPONSIBLY Palm Beach Strategic Forum Medication nonadherence Delayed evidence- based treatment Medication errors Suboptimal generics use Mismanaged polypharmacy Antibiotic misuse $269 Bn $62 Bn $54 Bn $42 Bn $30 Bn $18 Bn Total Annual Avoidable Costs: $475 Bn = ~8% THE 5 Global 2012

PRIORITIES FOR LEVERAGING INNOVATION TO ADVANCE GLOBAL HEALTHCARE Palm Beach Strategic Forum Creating or sustaining the eco-system to support innovation Using common language, common metrics to set goals and measure progress Applying rigorous assessment of clinical benefits from innovation Leveraging digitized information Balancing equity and affordability