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Pharma secondary packaging market

Infiniti’s Competitive Intelligence Solution for A Prominent Company in The Pharma Secondary Packaging Market: Exploring Key Packaging Innovations And competitive landscape Insights

In pharmaceuticals, secondary packaging constitutes the packaging which does not come in direct contact with the dosage form. Pharma secondary packaging is becoming widely adopted and essential as they offer critical functionalities, such as, for physical and barrier protection, secondary containment, adherence to regulations, and consumer safety. It also creates a buffer and protects primary packages from each other during transportation.

Business challenge

A prominent pharmaceutical company headquartered in San Francisco, CA sought to explore the changing trends in the secondary pharma packaging market by focusing the research on major design/technology innovations and best practices adopted by leading players in the pharma secondary packaging market. Through the engagement, the client wanted to support their future packaging developments and track industry trends over time. By leveraging Infiniti’s competitive intelligence solution, the pharmaceutical company wanted to understand the competitor landscape in the US and European pharma secondary packaging market, new features of secondary packaging being incorporated by competitors, product portfolio descriptions, and competitor strategies to promote adherence.   

Want comprehensive insights into the market drivers, challenges, key industry players, and more in the pharma secondary packaging market? Request a complimentary proposal.

Our Approach

Experts at Infiniti Research started by delving deeply into the pharma secondary packaging market transformation over the past decade in the US and Europe. This involved a well-balanced combination of primary and secondary research. Telephonic discussions were undertaken with over 45 respondents with expertise in the development, sales, marketing, and usage of products and services related to secondary packaging market such as pharmaceutical packaging specialists, packaging engineers, and packaging development experts. The secondary research undertaken by our analysts included comprehensive research materials from company websites, industry news CPA, HCPC, CHPA, packaging digest, and public database.

Through extensive competitive intelligence study and research methodologies, experts at Infiniti Research were able to identify the top pharma secondary packaging designs that are predominantly used. This includes medication adherence packaging, extended labels, and increasing use of sustainable materials in pharma secondary packaging. Furthermore, Infiniti’s competitor landscape assessment also identified some of the key competitors in the US and Europe, their respective packaging initiatives, and critical initiative undertaken to promote adherence.

With a focus to ensure product integrity, better manufacturing efficiency, and enhancing customer satisfaction, experts at Infiniti Research have identified that companies are developing innovative technologies such as thermochromic indicators and contemporary cartons designs. Furthermore, with Infiniti’s recommendation, the client adopted robotics and process automation that significantly improves production output, lowers operating cost, and enhances worker safety.

Business Impact

By leveraging Infiniti’s competitive intelligence solution, the client was able to successfully track their key market competitors and identify some of the most innovative and viable trends in the pharma secondary packaging market. Apart from this client was also able to:

  • Increase investments on their primary and secondary packaging lines by adopting technologies which result in faster turn-around time, fewer errors, and higher adaptability to incorporate and reproduce design changes
  • Collaborate with the CPO to formulate innovative packaging designs which are senior-friendly, child- resistant, medication adherence promoting, and offers unique dispensing mechanisms
  • Expedite early market entry for biologics and personalized medicine by identifying advancements such as 3D printing in pharmaceutical packaging
  • Reduce operational cost by 30% within this first quarter by adopting RPA into packaging operations
  • Focus on packaging designs that are cost-effective and have shorter production turnaround times
  • Incorporate adherence features in the secondary packaging design to help practitioners promote the use of the drugs to the patients
  • Build an effective planning and production process to minimize packaging errors and prevent product recalls, saving the company over $1.2 million within six months

For similar engagements for your business, get in touch with an industry expert

Coronavirur Drug

The Coronavirus Ripple Effect: Analyzing the Challenges Impacting New Drug Development

As China accounts for roughly 40% of the global active pharmaceutical ingredients production, the outbreak of the novel coronavirus could potentially disrupt the drug supply and business of branded and generic drug manufacturers. Since the emergence of COVID-19, drug manufacturers are racing to speed the development of diagnostics for detecting the infectious agent and developing coronavirus drug to prevent the infection. However, the experts at WHO report that the coronavirus drug development process will take much longer as each step in the drug development pipeline faces potential challenges. This article outlines some critical factors impacting the new drug development for coronavirus.

With our expertise in offering new drug development services, we can help you to ease the coronavirus drug development process. RFP for more insights.

Challenges Impacting the New Coronavirus Drug Development

Lack of R&D and other testing constraints

Scientists and drug manufacturers are facing challenges in determining the characteristics of the current coronavirus, its epidemiology, and transmission patterns. While major pharma companies have been instrumental in isolating the novel coronavirus, the challenge lies in culturing the virus in the lab under secure and sterile conditions.

Drug trial slowed by lack of eligible recruits

The next challenge drugmakers face is developing and validating the right biological model for the virus. Clinical trials to test new coronavirus drugs are going more slowly than expected as pharma companies are struggling to recruit qualified patients.

Dependency on China for active pharmaceutical ingredients

For general pharma players depending on China for APIs, the continued outbreak may increase the risk of supply chain disruption. This could lead to slower growth of the new drugs in the short term. The suspended API production in China will further disrupt the distribution of drugs flowing from China to other nations, resulting in shortage of APIs for new drug development if the outbreak persists.

When it comes to the spiraling global coronavirus outbreak, scientists are still trying to find the new coronavirus drug for protection. Our healthcare market research experts can help you ease the coronavirus drug development process by helping you in identifying effective patient recruitment strategies for clinical trials and finding strategic contract manufacturing firms. Contact us here.

How Infiniti’s New Drug Development Strategy Can Help Pharma Companies Combat Coronavirus Drug Development Challenges?

We at Infiniti understand that recruiting qualified patients and tackling supply chain complexities are key objectives of pharma companies in effectively launching new drugs in the market. Here’s how our services can help you combat new drug development challenges for curing COVID-19.

Contract development and manufacturing

As coronavirus is spreading throughout the globe, the pharma companies are in the need to speed up the coronavirus drug development approach. Our experts can help you to identify the best contract development and manufacturing organizations to achieve strategic goals at various stages of the product lifecycle – from clinical research and approval to drug commercialization. Our research coverage includes outsourcing services, bio-processing platforms, and single-use technologies.

Patient recruitment research

Patient recruitment delays are remarkably common and costly. In fact, nearly 80 percent of patient recruitment timelines in clinical trials are not met and over 50 percent of the patients are not enrolled within the planned time frames, according to major pharma players. With our expertise in offering patient recruitment research services to over 50+ pharma companies, we can help you to devise a patient profiling model to create a profile of typical patients for each trial and reduce delays in bringing new drugs to the market.

Market research services

To achieve continued double-digit growth and mitigate risks in R&D and manufacturing, pharma companies must gather actionable intelligence into the market needs and determine the characteristics of the current coronavirus drug. By leveraging our existing database of physicians, HCPs (Health Care Personnel), and patients in the target countries, we can help you gather relevant insights to make your drug development process smoother.

Want to know how to stay prepared to tackle the deadly coronavirus impact on your industry? Request more info here!

Market Intelligence

Five Types of Marketing Strategies for Pharmaceutical Companies to Boost Profits

Technological advancements and the healthcare industry are very closely associated. Recent advancements are mainly intended to improve treatments and therapies. However, when it comes to pharmaceutical companies, technological developments bring about a change in the way the companies operate and market their specific products –  especially due to the legal and compliance restrictions in various regions. But keeping themselves abreast of all the new marketing strategies can help pharmaceutical companies to move a step ahead of their competitors and grow their business. Here are five digital marketing strategies that pharmaceutical companies have to watch out for in 2018.

Five Digital Marketing Strategies for Pharmaceutical Companies

Marketing through InfluencersAsk An Analyst_IR

Online information always fetches more attention than traditional ads and can create a stronger influence on the attitude of people and their behaviors – provided it is reliable. But the question of where and from whom to fetch such information can be answered with the help of influencers.

An influencer is a person whose presence is huge on social platforms and has relevant followers. The base of such followers can range from hundreds to millions. Such influencers have relevant posts on their page and targeting them can boost the growth of your business. Pharmaceutical companies looking for new ways to market their products should follow such influencers to boost their brand presence. For example, if a pharmaceutical company is targeting patients suffering from diabetes then the influencer who is very active on any social media platform and had suffered the same disease in the past, can be approached successfully to seek the attention of people suffering from diabetes. Also, influencers can be helpful in the case of medical products or medical devices. This is one of the best marketing strategies that can help pharmaceutical companies to improve their brand presence on social media channels.

Messaging apps for pharma

Today, messaging apps are one of the most appropriate marketing strategies to reach the target customers with valuable and reliable content. For pharmaceutical companies, it provides an opportunity to have a one-to-one conversation with their patients, doctors, and customers. But there are some security concerns which are considered to be unethical, such as: Is the app providing encryption? Are all the regulatory compliance requirements of your pharmaceutical company fulfilled by it? Clinical trials recruitment is one of the most interesting application areas of such messaging apps.Request Proposal

Chatbots for pharma

Chatbots are one of the most interesting marketing strategies that are being used by various pharmaceutical companies to respond and engage with clients. Chatbots are programmed and automated scripts that are used to converse directly with the client and mimics the response and behavior of a human being. Such bots can help handle requests like questionnaires, FAQs, and surveys. There are several ways in which pharmaceutical companies can use such chatbots to automate many time-consuming processes and provide more personalized services.

cta irNative advertising for pharmaceutical companies

Native advertising is a kind of advertising that is carried out in the form of an article. The content of such an article is marked with specific labels, such as “advertisement” or “sponsored”. It is generally more impactful than traditional display ads when it comes to engagement and interest. Pharmaceutical companies through native advertising can garner the attention of doctors and patients and can raise brand awareness simultaneously. However, there is one challenge associated with this marketing strategy, which is to put together a company regulations-compliant content and get approvals for the same.

Virtual reality in clinical medicine and pharma marketing

Pharmaceuticals companies, healthcare, and biotech industries have been experimenting with VR for a few years and the results are very inspiring. There have been various use cases of virtual reality and augmented reality in expanding pharma and clinical medicines. This includes training and education, therapeutic uses, and health product demos. Such marketing strategies can be successful only when pharmaceutical companies communicate with patients not only for target purchasing but to decipher consumption habits, drug adherence, and so on.


Want to keep yourself updated on the best marketing strategies for pharmaceutical companies:

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Customer Engagement

Assessing Potential Market Opportunities in the Medical Device Industry

The medical device industry is under pressure to offer healthcare and medical assistance to patients at affordable prices, thanks to the growing competition and technological advancements in the market. One of the factors that has increased the level of market competition is the ever-changing consumer needs and expectations from the healthcare industry players and the entry of new medical device manufacturers in theIR_Brochure surgical instruments landscape. The only way to stay abreast of the latest trends and developments in the medical device industry and tap the hidden growth potential in the market is to undertake market opportunity assessments. But what are the benefits of the market opportunity assessment for the surgical instrument manufacturers in the medical device industry, you ask? Here’s what.

Market Opportunity Assessment Benefits the Medical Device Industry

A thorough market opportunity assessment can help organizations in the surgical instruments landscape to gain a strong foothold in the competitive market environment and meet the growing needs of the healthcare industry. The medical device industry can effectively develop products and services that resonate with their target customers as it’ll help drive business sales. The surgical instruments manufacturers can make use of business intelligence and market intelligence tools to identify the potential market risks and new market entry barriers to devise effective risk mitigation strategies. It is extremely essential for the surgical instrument manufacturers to gain in-depth knowledge about the industry’s competitive landscape and assess the market attractiveness. Apart from this, a market opportunity assessment helps surgical instruments manufacturers to devise fool-proof go-to-market strategies and retain their market shares in the medical device industry.

Recently, Infiniti Research helped a leading company in the medical device industry to assess the market and competitive landscape, current product offerings, and build robust market entry strategies for the medical device manufacturing space. Read the complete case study here.

The Infiniti Way

The rule of thumb to survive in the market, create lasting impressions, realize business objectives, and drive profitability is to listen, identify, and analyze customer and market information.

“In this dynamic and competitive market environment, it is essential for organizations to gain an in-depth knowledge of their target customers and leverage these insights to improve their decision-making process.” says a leading senior market analyst at Infiniti Research

With more than 14 years of experience, Infiniti Research has worked with several clients across the globe and provided various business intelligence services that has helped them make strategic business decisions wisely. We have worked with over 120 plus clients, including 55 Fortune 500 companies and helped them build capabilities and drive bottom-line growth by leveraging the constant influx of information and data. With the help of our team of expert analysts and consultants, we strive to complement our client’s business objectives to discover growth opportunities and drive business excellence.

 

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Marketing in the Pharmaceutical Industry – Vision 2025

The pharmaceutical industry is expected to grow exponentially over the next decade in emerging markets such as India, China, and Brazil. Much of this growth can be attributed to the surge in chronic diseases and medical conditions in both the developed and developing countries. The emerging IR_Brochuremarkets are significantly contributing to the overall sales and driving the revenue of the global pharmaceutical industry. But what are the pointers the pharmaceutical companies must keep in mind to leverage the benefits of the market opportunities, you ask? Read on for more.

Pharmaceutical Industry: What Does the Future Hold?

Pharmaceutical companies must realize the future growth potential of the market and build their capabilities to enhance their value offerings. The present market condition is highly unstable, both economically and operationally, and responds too slowly to the changing market conditions. Over the next ten years, pharma companies will develop products that offer total health care packages as the healthcare industry clients are channeling their efforts towards disease prevention. Along with this, the traditional sales model will make way for a more, well-thought marketing strategy – where the sales representatives will focus on cross-selling and up-selling activities. Additionally, implementing a robust pharma supply chain will help eliminate the wholesalers, paving the path for direct-to-consumer channels that relax distribution and logistics requirements.

The Future of Marketing in the Pharmaceutical Industry

Traditionally, the pharma industry followed a bulk sales force hiring strategy and a mass market approach, while pitching their products and services to the potential customers. The pharma industry revolved around developing me-too products, selling the most drugs, and incremental innovation. However, the pharmaceutical companies are now adopting a targeted approach and streamlining their sales strategies with a comparatively smaller, smarter, and agile sales force that helps drive business growth. The pharmaceutical companies must develop marketing strategies that create value for the patients and offer premium products and healthcare services. The companies in the pharma industry can achieve their marketing objectives by improving their sales force effectiveness, adopting a flexible pricing strategy, and develop their sales and marketing functions to embrace the future trends.

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Competitor Analysis and Market Intelligence in The Medical Device Industry

The medical device industry is undergoing some major transformation with the latest technological advancements and the continuous influx of manufacturers entering the market. One of the biggest industries in healthcare, the medical device industry thrives on innovation and technology but currently witnessesIR_Brochure stark competition in the market. The medical device manufacturers drive growth in the healthcare industry by developing state-of-the-art medical devices and investing all the available resources – time, money, and personnel – in research and development activities. With similar product offerings, competitor analysis is an uphill task for the medical device manufacturers. How can we overcome this challenge, you ask? Scroll down.

Benefits of Competitor Analysis in The Medical Device Industry

With the rapid innovations in the medical device manufacturing industry is the backbone of the healthcare industry across the globe. The medical device manufacturers are widening their horizons by enhancing their product offerings to serve different market segments. However, with the growing competition in the healthcare industry, the surgical equipment manufacturers must opt for competitor analysis and market intelligence studies to benchmark their strengths against the other market players. What are the benefits of market intelligence and competitor analysis for the med-tech industry? is the question that haunts the industry professionals. Here’s what Infiniti’s experts have to say,

  • With the help of market intelligence studies, organizations can keep track of their competition, improve their business model, and predict market demand-supply
  • Moreover, companies in the medical device industry can achieve their business objectives, drive growth, and devise risk mitigation strategies
  • On the other hand, competitor analysis allows organizations to assess their competitors’ product portfolio, pricing strategy, and market outreach activities to develop an effective go-to-market plan

 

For instance, the expert analysts team at Infiniti Research helped a leading manufacturer in the medical devices industry to analyze the medical landscape and offered tailored insights about the various stakeholders in the healthcare industry. The competitor analysis and market intelligence solution helped the client to map potential market segments and make strategic business decisions. Read the full case study here.

The Infiniti Way:

The rule of thumb to survive in the market, create lasting impressions, realize business objectives, and drive profitability is to listen, identify, and analyze customer and market information.

“In this dynamic and competitive market environment, it is essential for organizations to gain an in-depth knowledge of their target customers and leverage these insights to improve their decision-making process.” says a leading market analyst at Infiniti research

With more than 14 years of experience, Infiniti Research has worked with several clients across the globe and provided various business intelligence services that have helped them make strategic business decisions wisely. We have worked with over 120 plus clients, including 55 Fortune 500 companies and helped them build capabilities and drive bottom-line growth by leveraging the constant influx of information and data. With the help of our team of expert analysts and consultants, we strive to complement our client’s business objectives to discover growth opportunities and drive business excellence.

To know more about the impact of competitor analysis and market intelligence in the medical device industry

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Market Access and Reimbursement System in the British NHS

With the growth in daily hospital admissions in England, it has become essential for the healthcare industry players to understand the market access landscape and the reimbursement system in the British National Health Service (NHS) to identify the market opportunities and challenges. The medical device manufacturing industry and the health care service providers must collaborate with NHS to innovate and introduceIR_Brochure new challenges that will transform medical care. In terms of efficiency, cost effectiveness, safety, and patient-centric care, the British NHS is ranked as the best healthcare system across the globe. The British NHS is comparatively less expensive as compared to the other healthcare systems with no compromise over the quality of the medical care service. However, transformation and innovation on a large scale needs commitment, investment, and coordination to impact the economy and support the patients positively.

What is Market Access in the Healthcare Industry?

Market access is a continuous process which ensures that a patient receives rapid and consistent access to medical care at the right price. It often entails value identification, creation, and communication-based on payer-consumer insights and clinical and health economic outcomes. The global market access processes must link its requirements to the local process by conforming to the specific market needs as each healthcare system is unique.  The only challenge that the healthcare market access system faces is to link myriad processes together and create a seamless experience for the payers, for the R&D team, and for the patients to deliver success.

Market Access and Reimbursement System – Current Scenario in the British NHS

The reimbursement system in the British NHS, as compared to the other healthcare markets, has streamlined processes that don’t require the manufacturer to use specific product-related costs, perform separate procedures, and negotiate coverage and reimbursement terms with every health insurance company in the market. The British NHS reimbursement system, formerly known as payment by results, now follows a complex monitor payment system that rewards the activity and not the results or outcome. The hospitals are often paid higher for emergency admissions, specialist service top-ups, day case treatments as compared to longer hospital stays according to the best practice tariffs.

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What Are the Reimbursement Challenges Faced by Medical Device Companies?

The medical device manufacturing industry is witnessing growth due to the rise in aging population, growing health concerns, and burgeoning health care costs. However, medical device companies face several medical device reimbursement challenges such as payer coverage related issues and reimbursement setbacks. IR_BrochureMedical device companies are now willing to create value for various stakeholders in the healthcare industry such as providers, payers, patients, and practitioners by offering surgical devices and medical tools that are cost effective and score high on innovation and quality. With the presence of a saturated medical device landscape in developed countries, medical device companies have started devising effective market entry strategies to tap the growth opportunities in emerging markets.

Medical Device Reimbursement Challenges in The Healthcare Industry

Medical device companies require a proper go-to-market and execution strategy to address the stakeholder’s demands. But before devising these market entry strategies, the medical device companies must identify the reimbursement challenges related to the medical device manufacturing industry by leveraging effective market assessment services. While designing products, the device manufacturers usually make efforts to retrofit the technology to suit the medical need. Moreover, healthcare industry players are constantly on the lookout for cost effective treatments or diagnostic methods and their real life applications, which result in numerous medical device reimbursement challenges for the manufacturers as they struggle to get a proper coverage for their medical devices. Another reimbursement challenge for the medical device companies is that they invest a lot in product development and clinical trials. How to solve medical device reimbursement challenges, you ask? Here’s how.

  • Medical device manufacturers must identify the medical problem first, leverage insights from reimbursement assessment, and then design products accordingly
  • Leverage cost effectiveness and market assessment studies to analyze the economic advantage of the new medical devices and their market viability
  • Understand the perspective of the healthcare payers, identify the healthcare delivery related issues, and devise marketing strategies to attract coverage for the medical tools and surgical devices

 

To know more about the medical device reimbursement challenges faced by medical device manufacturers

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Benefits of Strategic Analysis in the Healthcare Industry

Strategic analysis is the process of devising effective business strategies by making use of market research techniques and studying the market and industry environments to gain actionable insights. The healthcare industry professionals often shy away from strategic analysis and related advanced analytics solutionIR_Brochures as they think that it is too complicated and time-consuming. But today, most organizations have started opting for strategic analysis solutions to deal with the competitive and dynamic environment in the healthcare industry. Predictive analytics solutions such as strategic analysis help organizations in the healthcare industry to gain a comprehensive understanding of the market landscape.

What is Strategic Analysis?

Strategic analysis offers actionable insights to organizations by helping them identify and understand their strengths, weaknesses, opportunities, and threats that facilitate informed decision making. The advanced analytics solutions help businesses to understand the customer behavior, shopping pattern, and preferences. Infiniti offers a comprehensive strategic analysis solution that assesses the economic, political, and economic changes prevailing in the supplier landscape and the overall industry. The actionable insights enable the organizations to identify competitive technologies prevalent in the market and leverage them to develop new market entry strategies.

Benefits in the Healthcare Industry

The healthcare industry is growing as people are investing in health care and medical services to improve and enhance their lifestyle. Governments are directing their efforts and resources towards promoting cost-effective and efficient health care services, which, in turn, has compelled service providers in the healthcare industry to offer a myriad range of medical services. But how can strategic analysis benefit the health care services industry, you ask? Here’s how:

  • Strategic analysis or SWOT analysis as it is commonly known helps in assessing the growth potential of key market players and competitors in the healthcare services industry
  • The organizations in the healthcare industry can gain a comprehensive understanding of the competitive landscape and make use of these insights to devise market entry strategies to enter niche segments
  • The insights gained from strategic analysis engagement enables organizations to enhance their product portfolio and implement strategies to sustain their product offerings in the healthcare industry

 

To know more about strategic analysis and its impact on the healthcare industry

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Market Entry Tips for the Healthcare Industry in Emerging Markets

The healthcare industry in developed nations is highly saturated and the major players are dabbling through the various policy changes such as the AHA Vs. AHCA issue and economic uncertainty caused by Brexit. Healthcare players are increasingly investing and expanding their footprint in emerging markets such as the Middle East and South East Asia. Major players in the healthcare industry have identified the growthIR_Brochure potential and market opportunity in the emerging countries. Developing effective market entry strategies helps companies to define and identify their customers, providers, and payers; thereby developing appropriate sales and marketing strategies.

Tips for Developing Effective Market Entry Strategies

Market entry strategies help in defining the sequence of activities and determining market logistics to optimize pricing and reimbursement strategies. Organizations are striving to increase their brand awareness and target customer segments in emerging markets. Market entry strategies are the cornerstone of future growth and expansion strategies as it helps organizations understand the competitive landscape, reduce costs, improve operational efficiency, and boost sales. The companies in the healthcare industry must keep in mind the following points while entering the emerging markets,

  • Identify the right markets and regions to invest in with the right potential and growth potential
  • Develop new marketing channels and customize the communication materials that resonate with the customers in the emerging market
  • Establish connections and partnerships with domestic and local companies through mergers and acquisitions so as to strengthen and improve the service quality
  • Determine effective pricing strategies and ensure optimum utilization of asset capacity to drive return on investment and profitability

Market entry strategies offer actionable insights to devise products and services that cater to different customer segments. In the healthcare industry, organizations must understand the challenges and risks involved in introducing technologies and gain a holistic view of the competitive landscape in the healthcare market to drive efficiency and boost growth.

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