Tag: pharmaceutical industry

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

pharma industry trends

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

Pharmaceutical marketing

Developing a Winning Pharmaceutical Marketing Strategy | Infiniti’s Latest Success Story

Pharmaceutical Marketing Strategy Engagement

With the increasing competition from generic drug manufacturers and the entry of new players, pharmaceutical companies are facing difficulties in capturing the attention of customers. Moreover, the fast-paced transformations in the pharmaceutical industry have made it even more difficult for pharma companies to solely rely on their brand name and traditional advertising techniques to drive sales. With this, pharmaceutical companies are realizing the need to embrace digital transformation and leverage robust pharmaceutical marketing strategies to promote their product offerings.

In today’s competitive marketplace, traditional pharmaceutical marketing strategies can no longer help pharma companies drive sales and profits. Want to know how Infiniti’s marketing strategy solution can help pharma companies devise an efficient marketing plan to promote their product offerings? Request a FREE proposal today!

Business Challenge

The client is a pharmaceutical company based out of Ireland. The company was established in 1997. The company relied solely on TVs and print advertising techniques to promote their product offerings. However, these traditional sales and marketing approaches turned out to be costly for the company due to dynamically changing customer needs and requirements. With this, the company witnessed a huge loss in their marketing budget and this eventually impacted their sales rate. Furthermore, as customers accessed a multitude of platforms to make their purchases, the client’s inability to devise robust pharmaceutical marketing strategies resulted in revenue losses for the company. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering pharmaceutical marketing strategy solution.

Solutions Offered

The experts at Infiniti Research followed a four-phased approach to formulating a pharmaceutical marketing strategy. The approaches undertaken by the experts involved determining the client’s target audience, analyzing the competition in the pharmaceutical market in Ireland, setting up a marketing budget, and formulating a pharmaceutical marketing plan based on the insights obtained.

The experts also conducted demo marketing and promotional campaigns and monitored the results. As recommended by the experts at Infiniti Research, the client focused on social media and marketing through influencers. This helped the client to improve their brand presence on social media. Also, as suggested by the experts at Infiniti Research, the client developed messaging apps and chatbots to have a one-to-one conversation with their customers. This helped the client in increasing customer experience and further improved the company’s sales rate. Infiniti’s pharmaceutical marketing strategy helped the client to efficiently utilize their marketing budget and attract new customer segments through targeted marketing and promotional campaigns. Furthermore, Infiniti’s pharmaceutical marketing strategy helped the pharma company to enhance their profit margins by 37%.

Are you facing difficulties in promoting your product or service offerings? Our experts can help you in formulating an efficient sales and marketing strategy plan. CONTACT US to know the best marketing strategies that suits your business needs.

Digital Marketing Strategies for Pharmaceutical Companies

Five Digital Marketing Strategies for Pharmaceutical Companies

To gain more insights into these digital marketing strategies for pharma companies, read the complete article here.

Five Types of Marketing Strategies for Pharmaceutical Companies to Boost Profits

 

Request for more information to gain more insights into our services for pharmaceutical companies.

Business Information Technology people work hard Data Analytics Statistics

Market Segmentation: A Key to Success for Pharmaceutical Companies

The idea of dividing a market up into homogeneous segments and targeting each of them with a distinct product or message, is now at the heart of marketing theory.

Rising costs and demands for affordable health care continue to challenge the traditional business assumptions and economics of the pharmaceutical industry. Also, this is raising internal development risks, costs, and time requirements for clinical trials. To add to the complexity, pharma markets have become fragmented as providers, patients, physicians, and payers look for focused solutions that have optimal safety and efficacy profits for a narrower population of patients. Additionally, the role of greater transparency, reference pricing, and changes in decision-making are essentially shifting decision-making authority away from individual physicians to healthcare administrators and payers. These dynamics result in the complexity of product decision-making and continue to challenge the effectiveness of traditional commercial models in the pharmaceutical industry.

This is where the role of market segmentation comes into play. Market segmentation process enables pharmaceutical companies to move beyond product features and benefits or brand position to see specific needs through the eyes of specific market segments and this is an essential component of success for pharmaceutical companies.

At Infiniti Research, we understand the impact that target market segmentation strategies can have on your business. And to help companies expand, diversify, and tackle market competition, our team of experts have highlighted a step by step guide to market segmentation to help pharma industry players become market leaders.

(more…)

3

Antibiotic Drugs Market Segmentation: An Infiniti Research Success Study

Lack of vision in terms of medicine marketing has been diminishing the growth of antibiotic drugs manufacturers to a great extent. Click To Tweet

There is no denying the fact that the major antibiotic drugs manufacturers are ramping up their production of drugs and are allocating enough resources in R&D for innovative medicines. However, the boost in antibiotic drugs production has not been enough to cater to the unmet and varying needs of many sections of the population across the globe. The climate of a region is known to exert considerable influence on the health of the residents, which, thereby, necessitates specific medical aid. In most cases, the pharmaceutical industry has failed to identify such specific requirement of medicines. Moreover, antibiotic drug manufacturers Request Proposalare facing stiff competition when it comes to meeting steep expectations of the healthcare payers who are tightening their purse strings in demand for more clinical and economical antibiotic drugs.

Busines

s Issues

    • The client: A leading antibiotic drugs manufacturer
    • A well-known antibiotic drugs manufacturer approached Infiniti to conduct a robust market segmentation study of the pharmaceutical industry. The client required guidance in targeting specific customer groups and direct products in accordance to specific needs of the heterogenous demography. The antibiotic drugs manufacturer wanted a comprehensive analysis of the demands of various customer groups and develop a segmentation strategy to market the right product to the right group and gain an edge in the competitive pharmaceutical industry.

How Can Market Segmentation Study Help Antibiotic Drugs Manufacturers?

A strategic market segmentation study will assist antibiotic drugs manufacturers in identifying the demands of the customer groups considering the current offerings of the competitors. It will help the client in analyzing the loopholes in the offerings and accordingly manufacture the products which will guarantee a complete customer satisfaction.  A market segmentation study can also offer in-depth knowledge on the response of specific market segments, which will help antibiotic drugs manufacturers in devising specific marketing programmes and well-planned budgets.


Summary of Our Antibiotic Drugs Study

Contact US


Client Journey

Infiniti’s market analysis experts adopted a comprehensive qualitative and quantitative research methodology in obtaining meaningful insights into the pharmaceutical industry. Information was sourced from proprietary sources such as external industry data providers, company forums, and newsletters which helped the antibiotic drug manufacturers gain clarity on different customer segments and their demands.

Solution Benefits and Business Impact

A comprehensive market segmentation study helped the antibiotic drugs manufacturer discover new ways to meet the unmet demands in the pharmaceutical industry and translate it into operational areas. The client was successful in identifying and separating customer groups based on their specific demands and economic value. The market segmentation study assisted the antibiotic drugs manufacturer to direct the products to specific customers and gain customer commitment. It helped the client in modeling their sale tactics according to the trends prevailing in the pharmaceuticals industry, Get More Infowhich minimizes the risk associated with the product and ensure a steady profit generation.

The Future

The growing and evolving population is paving the way for the radical growth of the pharmaceutical industry – if it is steered in the right way. Moreover, governments have been allocating a major part of their budget towards healthcare, which will increase incentives and funds for antibiotic drugs manufacturers to improve and improvise provision of better drugs.


A must-read case study for strategy specialists and decision makers looking to develop an understanding of the antibiotic drugs market

Request Proposal


  Related Posts:

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:

Ask An Analyst_IR

semiconductor industry

Brand Strategy for A Leading Pharma Packaging Company Helps Enhance Brand Awareness

The pharma packaging market has been undergoing radical changes in the past decade to keep itself updated with newer innovative technologies for better serialization and to provide sustainable packaging solutions.

Serialization is a complicated practice and, therefore, needs to be implemented with extra care to avoid unpredicted costs. Additionally, the demand for sustainable pharma packaging has been steadily increasing and the pharmaceutical industry is not an exception to this trend. Due to growing demand and stricter regulations, manufacturers and brand owners are becoming more concerned about packaging sustainability. However, the main challenge is convincing consumers to choose your sustainable designs rather than competitor’s, as people now just assume that pharma packaging should be sustainable in the first place.

Business Issues

  • The client: Pharma packaging company

The client – a leading pharma packaging company – with business units spread across multiple geographies was facing certain predicaments in differentiating their products from that of the competitors. As a result, the pharma packaging company approached Infiniti to conduct a brand strategy engagement. The pharma packaging company wanted to evaluate the authenticity of the organization and drive effective marketing campaigns to improve brand awareness.

How Can Brand Strategy Help Companies in the Pharmaceutical Industry?

With the help of a robust brand strategy engagement, pharma packaging companies can successfully generate revenues and further create a strong brand equity. Moreover, a well-defined and executed brand strategy helps firms directly connect to the consumers’ emotions, needs, and competitive environments.


Summary of our Brand Strategy Engagement

Ask An Analyst


Client Journey

Infiniti’s brand strategy experts followed an extensive research methodology and carried out interviews and discussions with stakeholders in the pharmaceutical industry to help the client fine-tune their marketing strategies and maximize competitiveness across markets. The brand strategy experts also collated information from sources such as industry forums, company presentations, and newsletters to help the client enhance brand awareness.

The Solution Benefits and the Business Impact

The pharma packaging client gained in-depth insights into the competitive landscape, which helped them to enhance the brand’s performance. With the help of Infiniti’s brand strategy engagement, the client also improved brand recognition, built credibility, and increased the overall advertising effectiveness. The pharma packaging firm also built a customer-focused marketing strategy to scale their position across emerging markets.

The Future

Producing sustainable, yet functional, packaging is a test for any industry but even more so for the pharmaceutical industry, where regulations and patient safety take precedence. Additionally, while consumers and retailers are shifting to a more environmentally conscious mindset, they prefer safe, high-quality and easy to use medicines. Therefore, to achieve this, companies must start incorporating smart manufacturing processes, using eco-friendly materials, including recycled paper, board, and corn-starch, all of which are biodegradable.


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

Request Proposal


Related Posts:

IR6

Case Study on Industry Risk Assessment for a Leading Animal Nutrition Company

Animal nutrition focuses primarily on the dietary needs of animals, mainly those in agriculture and food production, and also in zoos, aquariums, and wildlife management. Animal nutrition companies are the ones that develop and deal with the manufacture of nutrition premixes, feed additives, and other related services. Based on research, several leading companies have started developing better formulations to enhance the quality of IR_RFPanimal feed.

The Business Challenge

The client A leading animal nutrition company, involved in the research and development of animal feed.

Objective To assess the risks and opportunities in the market space and help them determine potential expansion areas by implementing a risk assessment study.

The client, a leading animal nutrition company, specializing in the manufacture of animal nutrition premixes, wanted to gain detailed insights into the potential industry risks that would lead to negative results. The client was looking at conducting a risk assessment study to identify industry risks and potential threats. They also wanted to understand the relative risks in different subsegments within the market space. Moreover, they wanted leverage risk assessment based solutions to evaluate and group the risks based on specific geographic areas.

Results With the help of our risk assessment solution, the client was able to gain detailed insights into the potential risks that helped them in developing an easy to use dashboard that enabled them to identify and compare industry risks in different geographical segments.

Risk Assessment

Want more information about our industry risk assessment solutions for animal feed manufacturers?
Ask an analyst

The Journey

Infiniti’s industry risk assessment experts carried out extensive research, comprising interviews and discussions with leading stakeholders in the animal nutrition market space, to help the client achieve an integrated customer development process. Our risk assessment experts also compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.

The Solution and the Business Impact

Infiniti’s risk assessment solution helped the pharmaceutical industry client to gain detailed insights into the industry risks and potential threats. The risk assessment solution also helped them to focus on developing a dashboard that enables easy comparison of risk factors across their business units. It also provided detailed information on the psychographics and demographics of the target markets while taking into account the end-user demand for different geographies.


The Future

The animal nutrition sector is likely to become intertwined with information technology, eventually allowing for a flow of information throughout the operations. Also, the use of NIR technology and equipment advances will help in the analysis of raw materials in real time, allowing reformulations of animal nutrition.

Moreover, widespread digitization and technological innovations will result in real-time monitoring of animal nutrition in the feed. Furthermore, as technology evolves, it will also be possible to control digestion and nutrition utilization; whereas, the traditional formulation methods based on compositional analyses will play a less important role. However, analytics technologies such as advanced in vitro fermentation modeling, nutrigenomics, and NIR will intervene in nutrition formulation so that the nutritional value is defined and feed formulation and manufacturing become a more precise science.

Animal nutrition industry challenges:

  • Exchange rate instabilityGlobalization has made it possible to procure inexpensive raw materials from regions across the globe. This brings in issues related to exchange rate stability.
  • Safety and quality assuranceThe ongoing food scarcity will increase the pressure for manufacturers and marketers to ensure the animal feed is safe and of high quality. However, this will bring about several challenges for small players who may find it difficult to comply with such feed quality requirements.
  • GMOs Another factor that acts as a major challenge for players in this sector is the use of GMOs. Also, the industry players can cope equally well with or without GMO crops, but the presence of both is what acts as an impediment to the majority.

Several such challenges make it a necessity to implement risk assessment studies to identify potential risks and set risk management standards to overcome them.


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

IR_RFP


IR36

Impact of Target Market Segmentation on Consumer Demand: A Success Story on How We Assisted a Leading Biopharmaceutical Products Manufacturer

Biopharmaceutical products play a significant role in enhancing the lifestyle and reducing death rates in patients with cancer, HIV, rheumatoid arthritis, and cystic fibrosis.  The efficacy and safety of drugs drive the growth of the global biopharmaceutical products manufacturing sector. In the pharmaceutical industry, the biopharmaceutical segment deals with the manufacture of drugs using living biological systems. Therefore, the production of biopharmaceutical products requires specialized equipment and devices that can support these biological systems.

Also, the costs associated with the procurement of this equipment is high when compared with the ordinary manufacturing equipment. Several such factors act as a restraint, adding to the requirement of moreIR_RFP resources and time to set up a biopharmaceutical manufacturing facility.

The global biopharmaceutical industry subsegments include:

  • Generic drugs
  • Chemically derived drugs
  • Biosimilars
  • Biologics
  • Over-the-Counter (OTC) drugs

The Business Challenge

The client– A prominent manufacturer of biopharmaceutical products.

A pharmaceutical industry client, specializing in the manufacture of biopharmaceutical products, wanted to leverage market segmentation based strategies to gain detailed insights into the target market groups. The client was looking at identifying the most profitable way to segment end-user groups into different segments. The client also wanted a detailed report on the demographic, geographic, and psychographic variables of the end-users in various segments. Also, by using target market segmentation strategies, the client wanted to outline their business plans to reach end customers.

Additionally, the biopharmaceutical products manufacturer was looking at enhancing their marketing strategy to improve product reach. They also wanted to identify potential customers in every target market and focus on developing personalized strategies using market segmentation solutions.

Results– Offered detailed insights into the different market segments and helped the client analyze consumer demand based on a robust market segmentation strategy.

Market Segmentation

Want more information about our target market segmentation strategy solutions for the pharmaceutical industry?

Ask an analyst

The Journey

Infiniti’s target market segmentation experts carried out extensive research comprising interviews and discussions with leading stakeholders in the biopharmaceutical products manufacturing industry to help the client develop an integrated customer development process. The market segmentation experts also compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.

The Solution and the Business Impact

With the help of Infiniti’s target market segmentation strategy, the biopharmaceutical products manufacturer was able to divide and gain detailed insights into the various market segments. Leveraging market segmentation strategies also helped them to focus on developing a heterogeneous approach to meet the needs of several different sub-targets. 

The market segmentation strategy also offered detailed information on the psychographics and demographics of the target markets while taking into account the consumer demand for different segments.


The Future

The global market for biopharmaceutical products continues to evolve with the expectation of a positive future with several growth opportunities. The growing demand for bioprocessing technologies will prove to be a significant growth driver for this market segment in the coming years. In response, several leading pharmaceutical establishments are now increasing development efforts on biopharmaceuticals products. Moreover, technological innovations are driving several industry trends, leading to better innovations in drug development.

Biopharmaceutical industry trends:

  • Demand for single-use systems and disposable devices- Several leading pharma products manufacturers are now adopting disposable devices. Breakage and loss of production material may cause significant problems to their usage and adoption rate. However, since breakage is a relatively rare occurrence, such hurdles are becoming increasingly less of a problem.
  • Demand for continuous processing- There’s a growing demand for the continuous processing technologies from the end-user segments. Suppliers in the pharmaceutical industry have also increased their investments in R&D to develop such systems. This also resulted in many companies introducing chromatography and other multi-column systems for continuous purification.

Trends in the biopharmaceutical products manufacturing sector remain very positive, with no significant threats on the horizon and healthy industry growth occurring globally.  The industry will continue to grow at a steady pace, providing new growth opportunities for those who recognize the regulated nature of this industry.


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

IR_RFP