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pharmaceutical market research

Pharmaceutical Market Research: A Linchpin for Success in the Pharma Industry

Pharmaceutical companies are experiencing an industry slowdown. Amidst this, many players in the sector are seeking to transform their R&D engine into a source of competitive advantage in order to thrive. In such cases, effective pharmaceutical market research is paramount. Furthermore, current medicines are reaching saturation levels, making it even more crucial for pharma companies to invest in better drug development through comprehensive pharmaceutical market research. To gain reliable results and understand the actual needs of the target consumers, pharmaceutical market research must encompass data relating to potential success rates for new drugs as well as determine what factors affect pharma sales. Pharmaceutical market research ideally comprises early, pre-launch, launch, and post-launch market research.

If you’re part of the pharmaceutical or life science industries, you’ve probably already felt the effects of an industry that is slowing down. Want to know how our services can help you navigate challenges in the pharmaceutical industry?

Why is pharmaceutical market research important?

No matter how much companies in the pharma industry invest into a new drug development or how innovative the drug is, it becomes completely ineffective if the drug does not satisfy the needs of the target audience. Pharmaceutical market research provides insights into the demands in the target market and how to enhance the overall healthcare market experience. Pharma market research also helps in:

  • Understanding the market and competition
  • Targeting the right customers
  • Designing a unique value proposition
  • Determining the most profitable market strategy
  • Testing the product efficacy
  • Tracking the drug cycle

Essentials for effective pharmaceutical market research

pharmaceutical market researchGather customer feedback

It is an integral part of pharmaceutical market research to conduct a wide variety of surveys and research studies across all customer types to help identify and prioritize which issues will have the biggest impact on the company’s success. This includes physician satisfaction surveys, product satisfaction surveys, and patient pre-and post-clinical trial surveys.

The pharmaceutical industry is quite different from other consumer lead industries. Therefore, pharmaceutical market research forms the basis for everything from product development to marketing. Get in touch with our experts to know more about our pharmaceutical market research services.

Broad horizons

Although it may be easy for organizations and researchers to look to large companies for data, it is always advisable to consider bringing in data from small life science organizations as well. The more data gathered with the use of surveys and other data collection tools, the more accurate will be the business decisions.

Assess the market thoroughly

This involves picking the right environment in which to market a drug is critical. Disease patterns, political turmoil, economic stability, and market size/segmentation and operating conditions are just a few of the key factors affecting a company’s overall success with a product. Pharmaceutical market research can highlight any obstacles or opportunities that might disturb or encourage favorable outcomes.

Monitor customer feedback at different touchpoints

Provide a variety of ways for customers to share their comments and offer multiple feedback channels to improve both the quantity and quality of the feedback received. Ensure that customer sentiment is measured and monitored across all consumer support channels, as this kind of feedback is often provided ‘in the moment’ when opinions shared are most accurate. Moreover, feedback can also make a strong contribution to the development and evaluation of new initiatives, so remember to reference insight gathered when considering a new project.

Compliance and regulatory requirements

It is not only important to collaborate with consultants and various business leaders in relevant industries while collecting data, but also vital to get their input once the data is collected as well. Different perspectives, educational, and professional backgrounds provide insight into data analysis that may be helpful when moving ahead with pharmaceutical market research.

Learn more about our pharmaceutical market research services

Pharma logistics

Identifying Critical Pharma Logistics Challenges in Canada

Every business endures pressure in terms of strict delivery schedules and meeting production efficiency. But when it comes to pharmaceuticals and healthcare product manufacturers, these deadlines become a matter of life and death, due to which ensuring product quality and timely deliveries are paramount for companies operating in this sector. This necessitates them to incorporate a changeover from existing pharma logistics strategies and traditional supply chain practices to new and innovative techniques to improve efficiency. Furthermore, in order to be adequately equipped to distribute pharmaceutical and healthcare products across Canada, pharma companies must be fully aware of the pharma logistics pain-points that the market has to offer.

As research and technology continue to fundamentally transform pharma capabilities, pharma logistics is being forced to adapt to changes in the types of products brought to the market. Request a free proposal to know how our experts can help you adapt to the changing trends in the pharma industry.

Large territories

Cold chains used for pharma logistics in Canada need to be highly robust due to the region’s vast territories. The region’s immense landscape provides challenging driving conditions including long distances, mountain winter conditions in the west, and unexpected weather scenarios that can result in roadblocks to effective delivery such as bridges ruined by rain, roads blocked by ice, and many other hazards. All of these factors have the potential to not only add to major transit delays but can also result in significant costs. Moreover, it can also prove to be difficult for pharma logistics providers to reach places up in the north due to limited infrastructure. In such territories, it may not be possible to place the pharmaceutical products on a direct flight to the required location, so the medicine may need to travel via truck for two days to complete the journey safely.

Extreme weather conditions

Temperatures can sometimes soar to extremes in Canada and this can sometimes compromise the quality of pharma products during transit. The pharma logistics facilities used must be able to protect the products from overheating in the hot climates or from freezing in the cold climates. This places a heavy burden on validating quality systems within the chain. The unpredictability of the weather conditions in Canada, in terms of their severity and duration, makes it extremely challenging for pharma logistics providers to preserve and ensure the quality and timely delivery of products.

Few industries face the scrutiny and demand for excellence as those engaged in pharma manufacturing. Get in touch with us to know more about our solutions for pharma companies and learn how we can help you stay in line with the advancements in the pharmaceutical industry.

Partnerships and collaborations

The pharmaceutical industry in Canada is rapidly moving towards an externalized R&D set up through partnerships and collaborations. A similar trend has been noted in the pharma logistics segment with several manufacturers outsourcing supply chain processes in an effort to benefit from the expertise of pharma logistics providers. However, this comes with challenges of its own. By delegating responsibilities externally, pharma manufacturers risk losing the end-to-end control that they once had on all their operations. Therefore, a stringent and robust quality agreement must be formed between all parties to protect the integrity of the product. Particularly well-defined standard operating procedures must be established regarding how the product and the raw materials will be treated. Cold chain partnerships with pharma logistics companies are largely a matter of trust. Once the cargo is handed to a forwarder or carrier, shippers must rely on their partners to safely steward their temperature-sensitive products through the cold chain. The success of these partnerships relies on effective communication. The best way to ensure effective monitoring of shipments is a truly collaborative approach, whereby all stakeholders charged with moving temperature-sensitive cargo work together to develop and implement the required programs.

Parallel Trade

The recent spate of selling pharmaceuticals from Canada into the US is only the tip of the iceberg. Canadian pharmaceutical companies were buying drugs at a lower price negotiated by the Canadian government and selling them across the border into the US where pricing is higher. This also occurs between borders in Europe between large wholesalers, as well as through black market transactions in developing countries. The danger here is that pharmaceutical companies lose the ability to know where these drugs are coming from. This can be largely avoided by the use of RFID technology.

Learn how you can enhance your pharma logistics capabilities.

Recent Posts

pharmaceutical industry

Illuminating the impact of Brexit on Europe’s Pharmaceutical industry

Pharmaceutical industry products are in the list of top five products that are most imported and exported from the UK to the EU and vice versa.

Brexit can have several implications of Europe’s pharmaceutical industry. From product development to market approval to the shipping of medicines and medical devices, pharmaceutical companies can expect to be affected in a broad range of areas. Companies in the pharmaceutical industry in the UK will have to manage the impact of Brexit carefully to prevent some of the negative aspects. However, uncertainty will have adverse effects on pharmaceutical and life sciences companies in other European countries as well. Experts at Infiniti predict how Brexit will affect life science and pharmaceutical industry.

Rising demand for personalized treatments, an ageing population, and the rise of new manufacturing technologies are some of the primary growth opportunities for the UK pharmaceutical sector. Request a free proposal to know how our solutions can help you stay prepared to cope with the market trends and changes.

Relocating European Medicines Agency (EMA)

One of the key pharmaceutical industry market access challenges that Brexit brings along with it, irrespective of the path it takes is related to the future location of the European medicines agency. Since its inception in 1995, EMA had been located in London. However, the Netherlands has now won the bid to host new EMA headquarters post-Brexit. With the EMA headquarters soon moving to Amsterdam, they may implement several changes to rules for medicinal products that are developed and tested in the UK. However, the extent of Brexit-induced changes to the pharmaceutical industry has yet to be decided.

Movement of people and pharma products

Pharma products form a considerable part of goods that are exported to and from the UK. Any post-Brexit hurdles to the free movement of goods could mean trouble for those supplies, potentially leading to temporary drug shortages. This is especially true in the case of drugs such as medicinal insulin that are not manufactured in the UK nor is it easily stored, as it requires temperature-controlled conditions. In order to reduce the risk of drug shortages in the case of a no-deal Brexit, the British government has asked pharmaceutical companies to add a minimum of six weeks’ worth of additional backup supply of medicines to their usual buffer stocks by the exit date, and to ensure that contingency plans were in place for drugs with shorter shelf lives. However, it is not only the movement of medicines that’s at risk. As the possibility of stricter rules regarding the flow of people between the UK and the EU looms, companies in the pharmaceutical industry are concerned about their ability to attract talent from outside Britain in the future. It is vital that pharmaceutical companies to still be able to access the best talent from around the world.

Emerging markets represent an exceptional opportunity for the pharmaceutical sector. Get in touch with our experts for more insights on how to capture the true value of the pharmaceutical market.

Change in the UK’s contribution to drug regulation

UK plays a major role in drug regulation in the EU through the work of the Medicines and Healthcare Products Regulatory Agency (MHRA). The UK frequently serves as rapporteur/co-rapporteur in the EU’s centralized procedure and as the reference member state in the decentralized procedure. It will prove to be a challenging task to replace the MHRA’s capacity and expertise, particularly if the timetable for reform is aggressive.

 

Safe supply of blood and organs

Another pressing challenge faced by companies in the pharmaceutical industry due to Brexit is linked to ensuring blood and blood products are safe. If there is a no-deal Brexit, the EU Blood Directives will not apply to the UK and it will be considered a third country by the EU regarding sharing blood, blood components, and information. The UK Government has declared that in the event of a no-deal, the current blood safety and quality standards for blood and blood components will remain the same, and therefore adhere to EU standards, allowing them to be imported into the EU. Similarly, the UK Government has laid out its provisions for ensuring the supply, as well as the safety and quality, of organs, tissues, and cells in the event of a no-deal. The UK would no longer be part of the EU Organ and EU Tissues and Cells directives, however, relevant UK establishments, such as stem cell laboratories and fertility clinics, would be required to work to the same standards. These organizations would need to individually agree on import and export of the products with EU and EEA authorities and establishments.

Learn more about Infiniti’s solutions for the pharmaceutical industry.

Recent Posts

Pharmaceutical manufacturing

IoT in Pharmaceutical Manufacturing: How it will Make a Difference

Internet of things (IoT) has the power to revolutionize pharmaceutical manufacturing in everything ranging from drug discovery to remote patient access and monitoring. Top pharma companies around the globe are increasingly adopting IoT technologies in their manufacturing plants in an effort to achieve optimization and improve process efficiency. Earlier, different data formats for different processes in a pharmaceutical manufacturing plant made data access and interpretation a significant challenge for effective communication. IoT technologies enable standardization within a pharmaceutical manufacturing plant by effectively connecting network, equipment, and systems across the plant. Furthermore, Pharma companies can also use IoT technologies to gain access to real-time data and visibility of operations through the entire manufacturing process. Here’s a detailed look on how IoT will transform pharmaceutical manufacturing.

Despite technological advancements, the pressing matter pharma companies have to address is how to achieve more control over their operations within and outside the facilities to remain competitive, optimize time-to-market, avoid shipment delays, and reduce the waste. Request a free proposal to know we can help overcome this dilemma.

IoT in Pharmaceutical Manufacturing

Pharmaceutical manufacturingIndustrial mechanics and maintenance

Although the use of industrial monitoring devices are already widespread in the pharmaceutical industry, real-time status information is yet to be widely available. Using pharma IoT monitoring sensors companies can instantaneously feed all relevant facility data into a single dashboard, alerting a supervisor in case of any abnormal conditions or urgent maintenance requirements. IoT in pharmaceutical manufacturing will also enable handling critical conditions remotely.

Managing pharma supply chain

Once the drugs leave the manufacturing plant, they travel through different modes of transport and may be subject to varying temperatures and weather conditions. Although in most cases care is undertaken to maintain the packages within the prescribed temperatures, chances of variations during transit cannot be completely ruled out. IoT can be helpful in such situations to provide real-time data to manufacturers every step of the way with improved supply chain visibility. The temperature changes or any damage to the products will be immediately notified to the manufacturers and determine whether the drugs are fit to sell or not.

In the pharmaceutical industry, mistakes have serious consequences, so progress will always be slow and cautious. Get in touch with our experts to learn how our solutions can help companies in the pharmaceutical industry.

Controlling drug manufacturing environment

In pharmaceutical manufacturing, sub-optimal environmental conditions can often prove to be fatal. However, this obstacle can be easily handled with the help of IoT. Pharma IoT establishes transparency in drug production and storage environment by allowing multiple sensors to monitor environmental indicators such as temperature, humidity, radiation, and light in real-time.

Learn more about Infiniti’s solutions for the pharma industry

IR36

Developing a Product Marketing Strategy for a Leading API Manufacturing Company

The pharma industry faces several challenges ranging from financial issues to others arising due to ethical issues.

The active pharmaceutical ingredient is a part of the drug formulation that produces the desired effect. It has been estimated that around 3,000 active pharmaceutical ingredient manufacturing units operate across the globe. Active pharmaceutical ingredient manufacturers face several challenges that arise due to mergers, acquisitions, and regulatory issues. However, a major challenge that needs to be tackled is the development of low-cost pharmaceutical formulations.

While the active pharmaceutical ingredient manufacturing companies have been primarily focusing on devising low-cost sourcing strategies, the absence of supply assurance has resulted in a decelerating market share. Hence, companies will have to devise appropriate strategies to ensure uninterrupted supply and regain market share.  On the other side, several leading active pharmaceutical ingredient manufacturing firms are increasingly investing in building their own R&D facility to pursue new therapeutic areas of interest. Moreover, as the active pharmaceutical ingredient market continues to grow, it’s future will contain more investment and mergers and acquisition opportunities to compete and stay relevant in the changing market landscape.

The Business Challenge

  • The client: An active pharmaceutical ingredient manufacturing company

To identify the potential bottlenecks and compliance barriers and successfully launch the new product, the client – a leading active pharmaceutical ingredient manufacturing company – approached Infiniti to develop a product marketing strategy. The client wanted to identify and gauge the attractiveness of the target markets. Also, with the help of focus groups, the active pharmaceutical ingredient manufacturer wanted to make important decisions, which included- pricing, profit goals, distribution, and methods of promotion. Therefore, their primary objective was to develop an executable product marketing strategy aimed at leveraging product sales and profit margins.

How Can a Precise Product Marketing Strategy Help the Pharma Industry?

Whether you deal with product manufacturing or sales, a well-defined product marketing strategy can help you target the right customer segment. Our market experts help you develop a concept and then move into the different stages involved – pricing, market testing, and execution promotion. Also, our product marketing strategy is designed to encompass every aspect of the pharma industry starting from design and development to distribution and sales.


Summary of our product marketing strategy assessment

Active Pharmaceutical Ingredient

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Client Journey

The solutions offered by Infiniti’s market experts helped the pharma industry client to gain a detailed industry outlook. It also helped the client to identify the target markets and develop a product marketing strategy to reach out to the potential customer segments.

Furthermore, to help the client identify the right distribution channels, the market experts at Infiniti conducted a detailed market assessment to devise executable promotions and marketing campaigns that reach the target market segments. The approach included primary and secondary research methodologies coupled with qualitative and quantitative data collection procedures. The experts also reached out to various stakeholders in the pharma industry.

Solution Benefits and the Business Impact

Infiniti’s product marketing experts helped the pharma industry client to accomplish their organizational objectives through the development of a precise product marketing strategy that helped them leverage sales and boost market share. The marketing strategy also helped the active pharmaceutical ingredient manufacturer to enhance their product offerings.

The Future

With the rapid growth of the pharma industry, it might be difficult for active pharmaceutical ingredient manufacturing companies to gauge the attractiveness of their product offerings in different market segments. The growing competitive pressure is also forcing pharma industry players to devise precise product marketing strategies to ensure they reach the potential target segments.

However, to benefit from the ongoing digital revolution, active pharmaceutical ingredient manufacturers will have to embrace disruptive technologies such as – AI-guided therapies, 3D printed drugs, and preventive medicine while collaborating with regulatory firms to ensure the safety of end-users.


A must-read case study for strategy specialists and decision makers looking to develop an understanding of the pharma industry.

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