Our Free Thinking white paper asks, does behavioural economic theory have a role to play in pharmaceutical market research?
Books espousing behavioural economic theories, such as “Thinking Fast and Slow” authored by Daniel Kahneman, have become essential reading for market researchers looking to improve their understanding of how people think, feel and behave.
This theory can be very useful in consumer research, where we already know the power brands have on influencing purchase decisions. But can behavioural economics theory be applied to the pharmaceutical healthcare industry, where treatment decisions are often made in a highly regulated environment and by educated professionals using sound, rational judgement?
Leveraging the ASEAN market
If you can only research one ASEAN market, which one do you choose? Our Free Thinking paper investigates the opportunities for pharma in ASEAN and outlines the factors you need to consider in deciding which markets to research.
Home to over half a billion people, the 10 nations that make up the ASEAN region constitute the eighth largest economy in the world. With pharmaceutical sales projected to exceed $20 billion in 2014, it’s an increasingly attractive and dynamic growth market for pharma manufacturers.
Biosimilars: Friend or Foe?
Our Free Thinking white paper looks at the opportunities for biosimilars and the threats to innovator biologics.
Biologics, whose active substance is derived from a living organism, have enabled healthcare to make significant therapeutic advances across a whole raft of therapy areas since their introduction in the 1970s. However, these medicines come at a price, reflecting the complexities involved in developing and manufacturing products derived from living cells. Annual treatment costs in the US can range from US$25,000 to US$200,000.
Excellence in oncology
Developing an effective biomarker strategy
Oncology is arguably the most exciting area of medicine in which to be working today. Biomarkers and companion diagnostics offer incredibly valuable predictive power, which is of benefit to payers, physicians and patients. Payers are able to demonstrate that the treatment they are paying for will be of maximum value. Physicians feel confident that they are offering an effective drug, which is at the cutting-edge of medicine. And patients clearly benefit from a treatment programme that reduces the risk of unnecessary toxicities and offers them better outcomes.
China's Chronic Disease Challenge
260 million people from mainland China now suffer from a chronic disease condition such as diabetes because of lifestyle factors including smoking, lack of exercise and a high-fat diet. Apart from the particularly high smoking rate, most other developed nations have similar risk profiles. Yet the World Health Organisation (W.H.O) reports that 85% of deaths each year in China are from chronic illness, significantly more than anywhere else in the developed world.