Navigating unchartered territory
A guide to conducting effective market research in emerging markets
Emerging markets present an exciting opportunity for growth for the pharmaceutical industry, as traditional Western markets mature and there are a limited number of new products in the pipeline offering blockbuster revenues.
Portfolio analysis: Using market research to master communications across a therapeutic category
Published in Pharma Voice and written by Tom Nolte and Melinda Shorr
Many of us are familiar with billiard games, where two players compete to be the first to pocket all the balls on the table in a particular order. We recently used the game as an analogy to explore the value of effective portfolio management within a particular therapeutic category.
Imagine that a set of racked billiard balls are the products in your portfolio. Each ball will require its own particular angle to achieve success. When a new ball breaks the cluster, only the savviest players can plan and strike in such a way that multiple balls will go in the right places to attain a competitive advantage.
Portfolio analysis is a valuable tool used in market research to understand the dynamics of a product portfolio and how best to guide, direct and manage the communications strategy to best effect.
Patients’willingness to pay
Considerations when developing an appropriate pricing strategy in self-pay markets
When launching a new product, it’s critical that pharma chooses the right pricing strategy to achieve the optimal balance between sales volume and unit cost.
In emerging markets, pricing is made more sensitive by the fact that frequently a high proportion of healthcare costs are paid for out-of-pocket by consumers and their families, making them key decisionmakers. In the past, pricing models in emerging markets were often developed using patient affordability assumptions.
Scratching the surface: unmet needs in psoriasis
Director Mariel Metcalfe shares some key findings from a recent Living with psoriasis study conducted in Europe, which is now available to purchase
Psoriasis is a skin condition but its impact goes much further than skin-deep. The late US novelist John Updike, who had psoriasis from the age of six, talked about being ‘At War with my Skin’.
The martial metaphor is no exaggeration. Updike hesitated to use the term ‘disease’ for something “not contagious, painful, or debilitating”. Yet his psoriasis still had “the volatility of a disease, the sense of another presence co-occupying your body and singling you out from the happy herds of healthy, normal, mankind”.
Shift to preventative healthcare - Opportunities for screening, diagnostics and vaccination
Across emerging markets we are seeing a shift towards prevention in healthcare policy, as governments seek to contain spiraling treatment costs.
There is a growing, if long overdue, recognition among policy-makers that the cost of prevention can be cheaper than the cost of treating the disease itself. China’s ambitious primary care creation project aims to focus increased attention on preventative healthcare, while in Saudi Arabia, the Ministry of Health’s ‘Vision 2030’ recognises primary care as ‘the most important component in the health system’ and aims to reform and restructure its delivery to improve disease prevention.