Benefit: How to the digital revolution is affecting for a pharma franchise company? - PowerPoint PPT Presentation

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Benefit: How to the digital revolution is affecting for a pharma franchise company?

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Here in this article, We have provided more fierce, patient-centric, dynamic with small, medium, and big organizations fighting to establish their space. Sometimes a cold market can substantially change the system we live and see things. – PowerPoint PPT presentation

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Date added: 29 June 2020
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Title: Benefit: How to the digital revolution is affecting for a pharma franchise company?


1
How Pharma Marketing is Changing Healthcare in
India
2
  • Sometimes cold commerce can substantially change
    the way we live and see things. Competition can
    improve products, services and access to them.
    When it comes to healthcare in India we can see
    tangible results of pharma marketing in India.
  • From a closed economy with few monopolistic
    companies, we now have a thriving medical market
    that is among the worlds most critical. Not only
    is the Indian market itself one of the worlds
    biggest, its companies are slowly emerging as the
    dominating players in the international market.

3
Affordable Care
  • Good healthcare was the domain of government
    hospitals, since private hospitals were few and
    far in between. While there was access to some
    generic drugs, access to medicines that are at
    the forefront of research was almost impossible.
    When it was available, it was often too expensive
    for the common man.
  • The opening of the sector and marketing by pharma
    companies has completely changed that. Many of
    the pharma companies are today making generic
    branded drugs that are a fraction of their
    international prices. Competition has also forced
    companies to bring some kind of price parity and
    affordability in the market.
  • A recent court ruling also allowed Indian drug
    makers to produce cheaper alternative of certain
    cutting-edge drugs if these met certain
    conditions. Moreover, international companies
    marking up drug prices on flimsy upgrades and
    patenting has also come under scanner. This
    affordability now extends to the entire
    healthcare sector as the government and industry
    dynamics work to create a more meaningful access
    to healthcare.

4
Rise Of The Small Sector
  • The pharma sector in India was dominated by big
    corporations or the Indian branches of big pharma
    international companies. The widening of the
    sector with the mushrooming of small and medium
    companies has been a boon. It has brought in
    fierce competition in pharma marketing as
    everyone now fights for a piece of the very
    lucrative Indian market.
  • The result is more affordable drugs and multitude
    of options. So, effective has been the SME sector
    that it accounts for a substantial part of the
    industry net worth. These companies also have a
    large share of the international market,
    propelling the Indian pharma sector to dominate
    the international market in terms of volume.

5
Raising Awareness
  • Pharma marketing often works by raising
    awareness. When we need to create a market for a
    new drug, we often start with the basics
    educating the people about the disease and its
    cures. There are many tools companies use for
    this from social media to workshops. Some
    companies also fund awareness camps.
  • The net result is that we see a greater awareness
    of such products and health conditions among the
    people at large. The average person is today more
    aware of the options in front of him/her and how
    to access healthcare services.

6
Connecting With Users
  • Every marketing campaign is ultimately about
    connecting with the market. The Indian pharma
    sector can no longer afford to continue in a
    vacuum where the buyer would by default buy only
    your product because he/she has no other
    alternative. Today companies actively seek out
    more contact with its users, including doctors,
    physicians, pharmacists and the public at large.

7
Going Digital
  • Competition and the inevitable advent of science
    has brought in the other benefit going digital.
    No pharma company can today afford to ignore this
    tool and it alone has completely revolutionised
    the pharma industry. The benefits of the digital
    revolution are multifaceted.
  • Better communication Pharma companies are using
    multiple digital tools to connect with their
    users from emails to the social media. Its a
    two-way communication where you can air your
    grievances and the company will work swiftly to
    address this.
  • Providing services Pharma companies today also
    offer a host of services. A number of pharma apps
    have taken the concept further by providing
    diagnostic services.
  • Improving adherence Today we have healthcare
    companies and centres connected through a digital
    network that monitor patents health and ensure
    they keep appointments.
  • Improved sales practices Digital has become the
    new marketplace with pharma companies using its
    reach to sell their products at a lesser price
    and to a wider market.
  • RD Digital platforms offer one of the best
    means to gather data with Big Data becoming
    critical for product development.
  • Pharma marketing in India has become more fierce,
    patient centric and dynamic with small, medium
    and big companies fighting to establish their
    space.

8
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