Developments in the treatment of Alzheimer’s
At a global cost of around $818 billion per year, dementia is one of the biggest challenges faced in healthcare today. While life expectancy continues to rise due to treatment advancements in chronic diseases, such as cancer and heart disease, advancements in the field of dementia have historically lagged behind. The result of this is a rise in the patient population most at risk of dementia (over 65’s), with limited treatment options available for those who develop the condition. The impact this has on quality of life, as well as the financial burden to families and the economy, has led to a significant increase in funding for research into dementia, with the aim of finding ways to reduce the burden of this condition in the future.
The Cost of Counterfeits
The sale of counterfeit drugs is growing at twice the rate of legitimate pharmaceuticals and pharma companies stand to lose more than just profits from the fallout of counterfeit identification.
If you discover the Rolex watch you bought on holiday is not a bargain but actually a fake you’d be pretty peeved, but other than a hit to the wallet and maybe to your pride you would be no worse off. If you took a counterfeit drug on the other hand, the consequences could be far more serious.
In 2011 the World Economic Forum estimated that the sales of counterfeit medicine had reached $200 billion; an increase of 90% since 2005, contributing to approximately 10% of all pharmaceutical sales globally. In developed markets, counterfeit drugs only account for around 1% of sales, but in ‘pharmerging countries’ such Africa, Asia and South America they are estimated to be accountable for up to 33% of pharmaceutical sales. With 1% of 4 billion prescriptions in the US amounting to 40 million prescriptions in the US each year, even in the west, counterfeiting is no small problem. The sale of counterfeit drugs is growing at twice the rate of legitimate pharmaceuticals and pharma companies stand to lose more than just profits from the fallout of counterfeit identification.
Viewing facility research, re-imagined
As technology has evolved, so too has the world of qualitative research.
Where once we were limited to in-person IDIs and focus groups (and telephone interviews, to an extent), we can now choose from web-enabled interviews, interactive online bulletin boards, mobile ethnographies and many other new methodologies. Nonetheless, in-person research using a dedicated market research facility location remains very popular, even though it can be expensive and time consuming. In this day and age where every dollar matters to a company’s bottom line, it is important to identify situations where the benefits of facility research can be successfully replicated in a more cost-effective manner.
From chaos to calm: how to make sense of social media
What do you know about chaos theory?
What do you know about chaos theory? Chaos theory was recently described to me at a rudimentary level as being about the science of surprises, of the nonlinear and the unpredictable. This got me thinking about social media and how to makes sense of what is being said online.
Did you know that on average around 6,000 tweets are posted every second? That’s 350,000 tweets a minute, 500 million tweets a day and 200 billion tweets a year – and that’s just one form of social media.
It’s fair to say that the way we communicate has been transformed by online interaction. We post, blog, tweet, “like”, “pin” and talk through online and social media mechanisms, all of which has an impact on commerce and industry today. They say “a brand is no longer what we tell the consumer it is – it is what consumers tell each other it is” (Scott Cook co-founder Intuit) and this causes problems for marketers, who for so long have been used to controlling the conversation with their consumers. Social media has changed this dynamic.
What does this mean for pharma?
The Patient Abroad
Published in Medical Marketing & Media March 2015
Approximately 11 million people were medical tourists in 2013, generating a market worth over $50 billion. While obtaining accurate data is challenging, estimates suggest the global medical tourism market is expanding by 25% each year.
Having grown up in the UK, where high-quality healthcare is available to all through the National Health Service, I hadn't given the concept of medical tourism a great deal of thought before I moved to Asia. It would simply not have occurred to me to seek healthcare overseas for any other reason than if I happened to fall ill while traveling.