Healthcare & Technology Consulting
Nowadays, to be innovative is not just a wish; this is mandatory to be able to cope with the competition and to serve the customers. Being creative does not mean that you have to design the next breakthrough product or service; Innovation starts within your company. By promoting a corporate culture of innovation, companies can react quicker to the changes and always stay aligned with their ultimate goals. At Hashi Consulting, we address healthcare consulting differently. Not only will we help you break the boundaries and navigate through the Japanese regulatory requirements, but we will also provide you with the tools to change your company mindset.
We specialize in healthcare and technology companies to raise your business to the next level by leveraging on innovation.
The Innovation Trinity
The real issue for a company to become innovative is to be able to optimize their core activities (sustain) simultaneously and always look for the next evolution (disrupt). The ultimate innovation is found as the intersection of the:
- Business Model. Can the company build a new solution? It represents the Feasibility of an Innovation.
- Customer value. Do the customers want this product? It represents the Desirability of an innovation
- Idea. Can the idea be monetized and is it sustainable? It represents the Revenue Stream component.
Opportunities for Healthcare in Japan
Driven with deregulation and an aging population, the market for healthcare in Japan offers a lot of opportunities for Pharmaceutical/Biotechnology companies, Medical devices, Diagnostics IVD, Life Science, and consumer healthcare. Once considered as a slow market for approval, the early approval system for innovative medical devices was introduced in 2017. Under these regulations, Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) has implemented various innovative, fast-track regulatory initiatives. Initially limited to medical devices, this scheme has then been widened to pharmaceutical products and is not limited to orphan drugs only. Early applications can be granted without confirmatory clinical trials, on the condition that the product’s safety and efficacy be further evaluated.
To be eligible for early conditional approval, drugs have to meet four criteria:
- The seriousness of the indication,
- Medical usefulness,
- Confirmatory clinical trials take a long time due to the difficulty of the indication or to the limited number of patients,
- A certain degree of efficacy and safety have already been shown during the preliminary studies
Japan has unique demographic problems to tackle and carries opportunities for healthcare. More than 25% of the population is over 65 years old. Japan’s aging society is the perfect place to test new technologies and services in healthcare. Telemedicine, eHealth, Home-Care, and Robotics are all initiatives that are strongly supported by the government. At Hashi healthcare consulting, we unveil new market opportunities and help you through the regulatory process needed to introduce new products or to form strategic alliances.
Healthcare in Japan is supported by digital transformation. In 2018, the government of Japan enacted the Next Generation Medical Foundation Law. Healthcare providers can submit anonymized clinical data to a repository that enables researchers to analyze them using machine learning and big data algorithms. From this vast collection of data, new treatments, and care procedures will likely emerge. Innovative companies and entrepreneurs from around the world are encouraged to collaborate with Japanese experts to define novel products and services.
Driving Innovation success in Japan
- Quality is key: Never cut corners and deliver value for money.
- Localize: Think Global, Act local
- Don’t be isolated: Look for the right partners
- Patience is paramount: Try. Fail. Adapt. Try again. Succeed
We are here to help you
- Achieve sustainable growth
- Lead your company to its full potential
- Leverage on your strengths
- Adapt to your environment
- Develop your corporate culture