Digitalization is fundamentally changing the way the healthcare industry is functioning today. The pharmaceutical drugs market, which is a core part of healthcare, is no exception to this.
New innovations and technologies are already enabling pharmaceutical drugs manufacturers to improve patient care and medicine development. However, healthcare industry players and other customers of pharmaceutical companies are demanding more and better data on the medical efficacy and improved patient quality of life. Such needs and demands cannot be fulfilled by purely traditional means.
Moreover, now that the era of conventional blockbuster pharmaceutical drugs is about to come to an end, the focus is shifting towards high value but lower volume products such as biomedicines and advanced medical devices. Also, the increasing price pressure caused by the competitive market price regulations and patent expirations is forcing pharmaceutical drugs manufacturers to alter their current market and product strategies to survive.
Business Issues[spacer height=”10px”]
- The client: Pharmaceutical drugs manufacturer
A renowned pharmaceutical drugs manufacturer – based out of the United States – approached Infiniti Research to conduct a market analysis. The pharmaceutical drugs manufacturer was facing predicaments in assessing the demand and supply for their products. Additionally, they wanted to gain relevant insights into the popular treatments and forecast the market’s growth prospects. The client also wanted to tap potential opportunities in the pharmaceutical drugs market and penetrate across niche segments.
How Can Market Analysis Engagement Help Pharmaceutical Drugs Manufacturers?[spacer height=”10px”]
A robust market analysis engagement helps pharmaceutical drugs manufacturers outline various customer segments and their buying patterns, and also recognize the economic environment in terms of the barriers to entries and regulations. Additionally, healthcare industry players can identify the attractiveness of a particular market and the potential bottlenecks hindering the market’s growth.
Summary of our market analysis solution
Client Journey[spacer height=”10px”]
To analyze the shift towards better patient engagement, the market analysis experts followed a comprehensive qualitative and quantitative research methodology. The experts also compiled information from proprietary sources, including industry databases, company forums, and newsletters to help the client gain detailed insights into the pharmaceutical drugs market.
The Solution Benefits and the Business Impact[spacer height=”10px”]
The market analysis solution offered by Infiniti assisted the client in gaining detailed insights into the pharmaceutical drugs market in terms of the size, the growth prospects, and trends. Moreover, with the aid of this market analysis engagement, the pharmaceutical drugs manufacturer was able to profile the most appropriate customers and understand the latest technological developments taking place in the global healthcare industry.
The Future[spacer height=”10px”]
Pharmaceutical drugs manufacturers around the globe are now realizing that it is not enough anymore to produce and develop drugs. New trends now show that they are expected to go beyond the physical appearance of the medicine itself and offer a complete package. For instance, a latest trend called the “around the pill”, a digital offering including digital health apps that could be prescribed by a doctor or bundled with a drug is something that we could expect in the coming years.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the global healthcare industry