Pharma Industry, Pharmaceutical Industry Analysis

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Pharmaceutical industry

Generating Huge Sales and Realizing Profits of Over 29% for a Pharmaceutical Company Using Market Intelligence Engagement

Pharmaceutical Industry Analysis

The innovations in advanced biologics, rising population, and access to quality healthcare and pharmaceuticals to middle-class people worldwide are driving the growth of the global pharmaceutical industry. However, the fluctuating economy, legal issues, talent shortage, massive flow of generic medicines, and rising competition are expected to impact the growth prospect of the global pharmaceutical industry. Besides, companies in the pharmaceutical industry are facing decreasing return on investment due to price erosion in key markets. As such, companies in the pharmaceutical industry will need to foresee changing market dynamics and look for other markets to sustain growth.

Our market intelligence analysts can help you to assess profitable opportunities in new markets and provide the information you need to expand operations and accelerate growth. Request a FREE proposal today.

Business Challenge

The client is a pharma company based out of the United States.

As Canada is known to be one of the most profitable markets for pharmaceutical companies, the client wanted to expand their business operations to Canada. Before investing a huge sum into their expansion plan, they wanted to determine their growth potential and assess market opportunities in the Canadian pharmaceutical industry. They approached the experts at Infiniti Research to leverage their expertise in offering market intelligence engagement.

Other challenges that the client encountered were:

CaptureGovernment and security: As policies regarding the use of medicines varied in different countries, the client wanted to understand the policies in the Canadian pharmaceutical industry. In addition, they wanted to understand in-detail the procedure for new drug launch in Canada.

Massive flow of generic medicines: Due to the massive flow of less expensive or generic drugs in Canada, the client wanted to identify strategies to cut down on their production costs and gain a competitive edge.

Identifying the right set of customers: Before expanding their operations to Canada, they wanted to identify the profitable customers to focus on to drive sales.

Need for new and effective medicines: The client wanted to analyze competitors’ product offerings and identify drugs gaining popularity in the Canadian pharmaceutical industry. By doing so, they wanted to invest into similar drugs.

By identifying the potential for a new product or service, we help companies to make strategic business decisions and accelerate growth. Contact us today!

Our Approach

The experts at Infiniti Research followed a four-phased approach that involved:

CaptureMarket scanning and monitoring analysis to understand the regulatory changes in the Canadian pharmaceutical industry. This also involved evaluating the market potential for the client’s offerings in Canada and identifying the capital requirement for setting up new production and distribution units.

Technology assessment to spot the next technological breakthrough and identify cost-effective technologies to enhance the client’s operational efficiency.

Customer segmentation analysis to segregate customers into distinct target segments and identify profitable customer groups.

Competitive intelligence solution to analyze the product and service offerings of the top pharma companies in Canada.

Results Obtained

By understanding the current market dynamics and forecasting the potential business opportunities in the Canadian pharmaceutical industry, the client was able to devise a sound market entry plan. Also, by thoroughly understanding the procedures for launching a new product in Canada, they were able to succeed  clinical trials in their initial attempt. In addition, the adoption of cost-effective technologies helped the client to automate their operations and reduce production costs. This further helped them to reduce the costs of their drugs and better compete with generic drug manufacturers.

By identifying the right set of customers, the company in the pharma industry was able to personalize their marketing and sales efforts for them and generate maximum sales. Also, a detailed analysis of their competitors’ offerings helped them to competitively price their products. Within two years of entering the Canadian pharmaceutical industry, the client was able to generate huge sales and realize profits of over 29%.

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Trends in pharmaceutical industry

Analyzing the Market Innovations and Trends in Pharmaceutical Industry in the United States | Infiniti Research

Analyzing Trends in Pharmaceutical Industry

Rising healthcare costs and economic uncertainties have put US pharmaceutical companies in a state of turmoil. However, on the brighter side, with biosimilars gaining popularity and new drug pricing and reimbursement approaches, pharmaceutical companies will witness rapid transformations over the coming year. Hence, pharma companies are under the pressure to stay abreast with the latest market innovations and trends in pharmaceutical industry. This is where companies realize the need to leverage market trend analysis solution.

Want to know the latest trends in pharmaceutical industry and keep pace with the market innovations? Our market trend analysis can help. Request a FREE proposal today!

Business Challenge

The client is a Canadian pharmaceutical company. The client was looking to expand their operations to the United States. With rapid transformations happening in the US pharma market, the client wanted to identify the trends in pharmaceutical industry and keep pace with the market innovations. The client, therefore, partnered with Infiniti Research to leverage their expertise in offering market trend analysis solution.

Furthermore, the client wanted to:

Analyze the market potential

By analyzing the trends in pharmaceutical industry and understanding the market innovations, the client wanted to understand the market potential for their product and services in the United States.

Understand technological trends in pharmaceutical industry

With the industry-wide proliferation of cloud technologies and artificial applications (AI) driving pharmaceutical industry growth, the client wanted to analyze all the technological trends in pharmaceutical industry in the United States.

Understand rising demand for biosimilars

With biosimilars gaining popularity in the US pharmaceutical market and providing cost savings for payers and patients, the client wanted to analyze how biosimilars are changing the US pharma market.

Analyze rising drug pricing

With the US government tightening up conditions for drug pricing and related instruments such as rebates and discounts, the client wanted to analyze the trends in pharmaceutical industry related to drug pricing.

Analyzing the latest trends in pharmaceutical industry is becoming vital for pharma companies that are looking to enter a new market or expand their business operations. CONTACT US to know how our market trend analysis can help you understand the latest market innovations and adapt to unexpected market fluctuations.

Solutions Offered

As a part of the trend analysis engagement, the experts at Infiniti Research conducted a thorough US pharmaceutical industry analysis and market sizing analysis. This phase of the trend analysis engagement helped the client to understand the recent market developments and estimate the market potential for their products and services. Also, the client was able to identify the market size of pharmaceutical industry in the US.

The experts also leveraged product research engagement to help the client analyze the complete product development lifecycle, trade-offs, and gain insights on product-specific revenues to boost the value proposition.  Furthermore, the experts analyzed technological trends in pharmaceutical industry and monitored how the client’s major competitors employed the latest technological trends in their business processes.

Furthermore, by leveraging Infiniti’s expertise in conducting industry trend analysis engagement, the experts helped the client to understand how biosimilars are transforming the US pharma industry and analyzed how top US pharma companies are spending on biosimilars.

By leveraging Infiniti’s expertise in offering market opportunity analysis, the experts also helped the client to review potential barriers to market entry and assess markets’ readiness for their product and service offerings.

Results Obtained

With Infiniti’s market trend analysis engagement, the client was able to efficiently analyze the trends in pharmaceutical industry and stay abreast with market innovations. Also, tracking emerging trends in pharmaceutical industry and assessing the regional market developments helped the client to devise a market entry plan to enter the US pharma market. Furthermore, within two years of entering the new market, the client was able to achieve a leading edge in the US pharma market and become one among the top 20 pharma companies in the United States.

Trends in Pharmaceutical Industry

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Request for more information to learn other benefits of keeping pace with pharma market innovation and analyzing pharmaceutical industry trends.

Market Assessment

Pharma 2020: Key Pharma Industry Trends to Watch Out For

The pharma industry is undergoing a myriad of changes. Therefore, success in today’s pharmaceutical marketplace largely depends on companies’ ability to continually reassess strategic direction, move with agility, and anticipate and adapt to changes. Businesses must not only keep a close watch on the pharma industry trends, but equal emphasis should be given to tackling the upcoming challenges. Some of the key challenges identified during our pharma industry analysis include:

  • Increasing instances of chronic diseases are placing greater pressure on the healthcare budgets
  • Healthcare policy makers are increasing pressure on doctors regarding what to prescribe
  • Growing demand for medicines in emerging economies
  • Regulators are becoming increasingly cautious while approving new and innovative medicines
  • Pharma-economic performance is measured in order to insist on outcome-based pricing

How to overcome these challenges?

All you need a market intelligence solutions provider to guide you with the right solutions for business. Request a free brochure to gain insights into Infiniti’s advanced solutions for the pharma industry.

Pharma industry trends

Despite these challenges, there are several exciting pharma industry trends underway. Infiniti Research’s pharma industry analysis reveals the following trends that companies in this sector must gear up for:

Prevention over treatment

 One of the key pharma industry trends that are expected to go mainstream is the idea of prevention over treatment. Governments across the globe are backing this, especially in the case of chronic diseases. Global pharmaceutical industry analysis suggests that there is an unprecedented amount of supply in prevention supplements and pills around the world. If certain chronic diseases cannot be treated, some of its symptoms and fatal consequences can be prevented through such initiatives.

Reverse innovation

Reverse innovation refers to any innovation which is adopted first by emerging economies and then distributed globally. Pharma industry trends of the future such as reverse innovation provide answers to various challenges faced by companies in the pharma industry including the rising research costs, patent expiration, and consequent revenue declines, and huge costs in bringing a drug to market.

Nanotechnology

Nanotechnology is one of the most notable recent trends in the pharmaceutical industry. Nanotechnology is a scientific, multi-disciplinary effort that involves the creation and utilization of essence systems on a nanometer scale. An important application of this innovation is in the form of ‘Nano-medicine’. Pharma industry experts at Infiniti Research believe nanotechnology to be one of the most impressive pharma industry trends and will unleash several breakthroughs in medicine, diagnosis, and genetic engineering. A key example of an innovative nanomedicine is that of Genexol-PM which is an anti-cancer drug used to fight breast cancer and non-small lung cancer.

Customization or personalized medicine

People around the globe are known to have genetic differences, however, all of us consume similar medicine that has been designed for millions of people. However, this trend is about to change in the near future. Personalized medicine is expected to become one of the most favored pharma industry trends in the future. The drugs will be customized based on the patient’s examination reports and medical records. Though it would take some time for this to become full-fledged in the pharma industry, such trends in the pharma industry will provide enhanced treatment to the patients.  

How can Infiniti’s trend analysis solutions help companies in the pharma industry to keep a close watch on the recent market trends and revamp their strategies to stay at par with top players in the market? Request a proposal to find out.

3D printing

3D printers are under rapid development. The adaptation of this technology in the pharma industry will enable companies in the sector to print the necessary medicines as per requirements. In 2015, the first FDA approved a drug called Spritam was printed. This drug is used to treat epilepsy. This pill was made 3D printing several layers of the powdered drug, binding the layers of powder together, and blowing away the excess powder. The drug easily dissolves when compared to a traditional pill due to its unique structure. This is especially useful for cases where otherwise large, hard-to-swallow pills are prescribed.

Body sensors

Body sensors are breakthrough pharma industry trends that are all set to revamp patient-care and drug prescription. Wearables, integrated body chip, mini robots, and several other types of body sensors can obtain patient information and communicate the same immediately to the healthcare professionals. This can help them make quick and informed decisions regarding the drugs that need to be prescribed to the patient. These systems integrate living human cells with micro-engineering to help researchers and product development teams a new standard for predicting human response with greater precision.

Artificial intelligence

Artificial intelligence and cognitive computers help gather and classify large volumes of data in a matter of seconds. This solves the common problem that the drug discovery process is lengthy and expensive. These advanced technologies will also help pharma companies to run cognitive trials in lesser time. Which means drugs can be delivered to patients much earlier than before.

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Competitor analysis

Top Manufacturing Trends Flourishing in the Pharma Industry

The global economic uncertainties, increasing healthcare costs and expiring patents are putting pharma companies in a state of turmoil. However, on the brighter side, the rapid development of the emerging markets, progress in drug research, the rise in generics production, the availability of high-potency drugs, and innovations in manufacturing trends will sustainably modify the global pharmaceutical landscape. Moreover, the increasing prevalence of chronic diseases and the growing demand for medications, high market growth, new medicines, and therapy forms, changing regulations, and progressing digitization are going to give birth to new manufacturing trends to meet the growing demand.

Manufacturing trends in the pharma industry

Process analytical technology

This initiative sets a legal framework in the USA aiming to motivate pharma companies to improve the production process and achieve consistent quality while reducing waste and costs. In order to comply with this regulation and the changing manufacturing trends, pharma companies need to have systems in place that ensure detailed monitoring of their continuous and batch processes. Process analytical technology is one of the vital manufacturing trends that enables and drives continuous manufacturing. It was identified as one of the most important manufacturing trends in pharma companies along with integrated manufacturing business and automation processes.

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Digitization and labeling information

Effective tracking, tracing, and labeling is a mandatory proof of authenticity and prevention of drug counterfeiting. Digitization of labeling information has resulted in greater emphasis being placed on collecting, securing, and processing digital data about pharma products.

Low-volume drugs

There are several issues relating to introducing new drugs in the market. This includes manufacturing issues as well, so a review of manufacturing trends in approvals of new molecular entities (NMEs) can provide insight into manufacturing activity. A key trend in NME approvals is the increased share of orphan drugs approved as NMEs. Orphan drugs are defined as drugs that treat diseases which are known to affect 200,000 or fewer people, as defined by the US Food and Drug Administration (FDA). The FDA provides incentives, including market-exclusivity benefits, for developing orphan drugs. Due to a smaller patient population, these drugs are typically produced in lower volumes when compared to primary care drugs.Get More Info

Risk-based manufacturing inspections

The FDA is continuing its plan to use a risk-based selection model for manufacturing inspections in the pharma industry. This forms a part of its strategy to allocate resources more effectively and gain greater parity between inspections of domestic and foreign drug-manufacturing facilities. During September 2018), the FDA published an internal policy that outlines the agency’s risk-based, site-selection model for inspecting foreign drug-manufacturing facilities. The FDA prioritizes inspections of sites regardless of their location with the help of a risk-based site-selection model. This is one of the critical manufacturing trends that pharma companies must watch out for.


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Market Entry Research for a Leading Life Sciences Industry Player

The rising costs and growing complexities associated with developing and bringing products to the market are compelling life sciences industry players to reexamine their business operations. Click To Tweet

Breakthrough developments in drug manufacturing processes have resulted in groundbreaking results that are set to bring in a major transformation in the life sciences industry. However, players will have to tackle major challenges to innovate and evolve in a complex market. Factors such as the need to improve time-to-market and siloed legacy systems are persistent challenges for players in the life sciences industry. Also, the life sciences industry players must possess the ability to quickly gauge the market to meet operational, infrastructure requirements, and devise appropriate market entry startegies.

The Business Challenge

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  • The Client: A life sciences industry major

One of the leading life sciences industry player operating in India wanted to devise an effective strategy to enter the international market. Their decision to enter the overseas market opened distinct new opportunities; thereby, making it difficult for the client to prioritize and gauge the risks in every new market. Hence to develop a precise strategy the client approached Infiniti Research to leverage its expertise in market entry strategy development.


Market Entry Strategy Benefits

The foremost step in launching a product or service deals with the selection of a potential market segment. Though this seems obvious, organizations generally fail to do their due diligence as far as pre-market entry strategies are considered. Moreover, research on the market size, growth prospects, competitive landscape, and technological adoption, it is essential not to disregard other essential factors that affect market growth including- economic landscape, business environment, and consumer groups.  Seemingly similar economies can present stark differences in such indicators leading to sharply divergent market prospects.Get More Info

Hence, a systematic and comprehensive approach to analyzing the factors that affect market potential is a good starting point for any organization and that is what Infiniti’s Market Entry Strategy Solutions are all about. Though the market entry strategy is developed with regards to developing market segments it is equally valid for developed economies.


Summary of Our Market Entry Strategy Engagement

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Client’s Journey

To help the life sciences industry player venture into international markets– the experts at Infiniti conducted a detailed market survey to help them gain a better understanding of the potential factors affecting growth in the life sciences industry.

Solution Benefits and the Business Impact

The market entry strategy solution enabled the client to identify the potential beachhead segment to focus and leverage market entry efforts. It also enabled them to select the appropriate business model to maximize profitability.


The Future

The are several reasons why businesses focus on expanding their reach by entering international markets. As far as the life sciences market is considered; lower costs, greater profits, and technological advancements are factors that compel them to enter new market segments. However, prior to undertaking a market entry strategy, it is essential to gain a comprehensive insight into the organizations’ readiness to enter the new segment.

Moreover, the life sciences industry is on the verge of a major industrial transformation which is why leading players are looking at devising an effective market entry strategy to expand their reach. This requires answers to key questions such as- What are the business goals? What measures have been devised to cope with the repercussions of market entry?


A must-read case study for life sciences industry players looking to develop an understanding of the importance of a market entry strategy

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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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Market Entry Strategies

Nutraceuticals: Know it All About the Future of Intelligent Food

In recent times, nutraceuticals have received considerable interest because of their presumed safety and potential nutritional and therapeutic effects. Today, an increasing number of dietary supplements have become available in supermarkets and health food shops, and they are also available for purchase in pharmacies. So, what are nutraceuticals? In a nutshell, they are medicinally or nutritionally functional food products. Nutraceuticals are parts of food that provide medical or health benefits, including the prevention and treatment of disease. They are also addressed by a variety of other synonyms such as medical foods, designer foods, phytochemicals, functional foods, and nutritional supplements. They include everyday products as “bio” yogurts and fortified breakfast cereals, as well as vitamins, herbal remedies, and even genetically modified foods and supplements. The increasing demand for functional food products can be explained by the growing cost of healthcare, the steady increase in life expectancy, and the desire of older people for the improved quality of their later years.Request Free Proposal

Some of the vital health benefits of nutraceuticals

Brain health and aging

The WHO predicts that by 2020 over 65 million people will have dementia and that the prevalence of other neurodegenerative brain diseases, such as Alzheimer’s, will also increase. Alzheimer’s disease is one of the most common forms of dementia. There is no cure for the disease and eventually leads to death. Alzheimer’s is commonly diagnosed in people over the age of 65 years, although less-prevalent, Alzheimer’s can also occur much earlier. The pressure to produce successful treatments is rising but has proved unsuccessful so far. Scientists are increasingly looking at food products that can help slow disease progression and treat symptoms. The growing trends in nutraceutical usage are due to the belief that these compounds can postpone the development of various forms of dementia such as Alzheimer’s disease.

Cardiovascular diseases

Cardiovascular disease is a term which is used for disorders of the heart and blood vessels and includes coronary heart disease. It is believed that low intake of fruits and vegetables is associated with high mortality in the case of cardiovascular diseases. Nutraceuticals in the form of vitamins, minerals,  dietary fibers, antioxidants, and omega-3 polyunsaturated fatty acids together with physical exercise are recommended for prevention and treatment of this disease.

Cancer

Cancer has emerged as a significant public health problem in developing countries.  A healthy lifestyle and diet can help in the prevention of cancer. Carotenoids are a group of phytochemicals responsible for different colors of the foods. They have antioxidant activities and prove to be useful in cancer prevention. Recent interest in carotenoids has focused on the role of lycopene in human health, especially in cancer disease.

Endocrine health & diabetes

The WHO estimates that 347 million people worldwide have diabetes. Sustained exposure to high blood glucose is linked to the consumption of high fat and high sugar content foods. Functional food products, which release sugars slowly enable better glucose control, which can reduce the impact of diabetes for sufferers, and can also help to prevent the onset of type 2 diabetes.


To know more about the benefits and features of nutraceuticals and functional food

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Pharmaceutical packaging

Pharmaceutical Packaging Client Promotes Market Attractiveness with The Help of Market Intelligence Solution

pharmaceutical packaging

LONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest market intelligence solution for a renowned pharmaceutical packaging client. Today, packaging companies have started offering services to a vast array of industries, including healthcare, food and beverages,  cosmetics, and other consumer goods. With the fluctuating preferences of customers on the rise, organizations are promoting sustainability, flexibility, and efficiency in their packaging to enhance the shelf life of the products.

“With the intensive growth in innovation, organizations are redesigning their existing packaging architecture to offer convenience and portability in packaging solutions that require minimum time and effort to open, carry, and store products,” says an expert at Infiniti Research.

 Request your FREE brochure today!

The market intelligence solution offered helped the pharmaceutical packaging client to gain accurate information on the market, the competitors, and the customers. Additionally, the solution also helped find ways to pre-determine resources and adequately allocate them to meet the business needs.

 Additional benefits of the market intelligence solution

  • Refined the existing marketing models and devised effective marketing campaigns to enhance business performance
  • Identified the hidden market gaps and opportunities and tackled the rising competition
  • To know more,  request a free proposal

 


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Pharmaceutical Industry

Pharmaceutical Industry Challenges 2018 – Major Barriers to Growth Prospects

Though there are several speculations about the stagnant growth of the pharmaceutical industry, recent technological innovations are expected to facilitate growth in the years to come. Click To Tweet

The huge shift of the population to urban areas and increased accessibility of people to healthcare services has opened doors to a wider target market for the pharmaceutical industry players. These emerging markets are becoming increasingly important for pharma companies. However, to be successful in the market, it becomes essential for companies in the pharmaceutical industry to shift from a marketing and sales-focused model to an access-driven commercial model. Additionally, with the governments of several countries making healthcare a priority in their policies, the future looks bright for pharma companies. But on the flip side, the market conditions and several other factors might not entirely be in favor of pharma companies. There are several challenges lying ahead for pharmaceutical industry players, which they need to combat before heading on the road to success:

TOP PHARMACEUTICAL INDUSTRY CHALLENGES

Healthcare policy reformsContact US

The US is the top player in the global pharmaceutical market. However, the changing healthcare reforms are affecting the pharmaceutical industry players in a big way. The Patient Protection and Affordable Care Act (PPACA), which is also known as Obamacare, is expected to undergo some significant reforms under the new government. Though healthcare policy reforms are on the top of the priority list for the new presidential administration, we are yet to see how these policies are going to affect the pharmaceutical industry in the longer run.

Impact of new technologies on pharma

Players in the pharmaceutical industry are still unsure about how the new digital technologies are going to impact drug development and commercialization. Several industrial experts feel that emerging technologies such as AI and 3D printing will cause radical changes in the business models, operations, workforce, and cybersecurity. The adoption of these technologies would also have additional benefits such as the ability to establish a digital supply chain in reducing manufacturing costs.

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Increased focus on ‘patient-centric’ healthcare

One of the most popular trends in the healthcare industry in recent times is the shift towards a patient-centric care model. Bringing the spotlight to the quality of care given to patients and making them active participants in the treatment process has put immense pressure on the pharmaceutical industry players. Furthermore, increasing regulatory measures are forcing pharma companies to deliver the best quality of services to prevent any regulatory actions.Request Proposal

Slower growth rate in emerging markets

Companies in the pharmaceutical industry have been reaping significant benefits from the emerging markets, but the recent economic slowdown in these markets has had a negative impact on the profit potential. The reduction in the GDP of these low-income countries with high pharmaceutical growth prospects has triggered a corresponding reduction in the volume growth. Unless these emerging markets pick up on their economic growth, the development of pharma companies in these markets will prove to be difficult.

Venture capital

The flow of venture capital is an essential factor for the smooth functioning of companies in the pharmaceutical industry. But the bad news is that the investments in venture capital-backed companies in the US has shown a constant decline in the recent past with fluctuations in deals and dollar. A significant challenge lying here for players in the pharmaceutical industry is to win back the confidence of investors in the sector.

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Read an updated version of this article:

Pharmaceutical Industry Challenges to Watch Out for in 2019

 


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IR34

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.

To know more about marketing your products in the pharmaceutical industry

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