First, let’s acknowledge the obvious: Nobody knows what Trump’s win might mean for the pharma industry—not even Mr. Trump. Most presidential candidates outline detailed policies before an election, but as The Economist wrote in its Schumpeter column, “Mr. Trump arrives with a tatty envelope scrawled with a few jottings on the back.” At the same time, pharma stocks are up 10%, so the market sees this as good news.
Healthcare practitioners (HCPs) today receive countless messages from pharmaceutical companies. In fact, data from our recent AffinityMonitor report estimates that the most valuable 30,000 HCPs receive 2,700-plus pharmaceutical contacts per year, equivalent to one contact per hour for 365 days.
Pharmaceutical and biotechnology companies are beginning to take a more customer-centric view of their operations—standing in customers’ shoes and interacting with them the way customers want, not just delivering a product.
The digital age has produced countless new ways for marketers to reach and engage customers. While digital media provides a significant opportunity for marketers to personalize and customize their promotion campaigns, it can put significant stress on the company itself. In fact, many companies are currently not able to fully leverage the opportunities that digital media provide due to organizational constraints. In essence, the new marketing capabilities are outstripping most companies’ ability to fully leverage those capabilities.
The person who will live to be 150 has already been born, thanks to continuing advances in health care. It’s staggering to contemplate—at the turn of the 20th century, the average lifespan in the United States was just 47. The life sciences industry is responsible for much of this increase in longevity. By nature, life sciences and health care are dynamic, and advances over the next decade have the potential to transform health care as well as the pharma industry. Companies that can spot and capitalize on these trends will enjoy long-term competitive advantages. So here’s a quick look around the corner.
consumerization of healthcare,