The business of
promoting the sale of pharmaceuticals or drugs is called
medico-marketing or Pharma marketing or pharmaceutical marketing.
Aim is to change a
non-usage of a product to usage or repeated usage.
Marketing is a
high-stakes proposition in the pharmaceutical industry, with
billions of dollars spent annually to promote new drugs.
has become an essential part of the pharmaceutical industry.
One of the
prototypical example of a science-based market because products in
science-based markets are largely supported by scientific reviews
that appear prior to and during its lifecycle.
companies are capitalizing on the advent of the internet and the
development of new media forms to promote their products.
The internet is
helping to globalize and to change the nature of pharmaceutical
marketing, and thus raises some new challenges for regulators.
legitimate non-prescription medications, such as pain relievers or
allergy medicine, has also long been practiced.
In order to develop
internet-based marketing, Consultancies have been established and
books are written to help the pharmaceutical industry.
Use of medical
representatives for marketing products to physicians and to exert
some influence over others in the hierarchy of decision makers has
been a time-tested tradition.
When it comes to
digital targeting, Pharma is between a rock and a hard place, even
though its annual digital spend is over $1 billion dollars.
IFPMA code has been
in operations indicates the objective of ensuring promotion of all
products and defining baseline standards for marketing practice and
applies to all pharmaceutical industry.
Marketing is perhaps
one of the primary reasons that helps organizations succeed in
expanding their horizons.
The primary technique
of media used to promote these products included samples and package
inserts given to healthcare professionals, advertisements in
companies sold drugs worth 1.032 billion euro in 2010, which is a
9.0% increase compared to 2009, according to data from global market
research company IMS Health.
Analysis shows that
the Indian economy continues on its current high growth path in
Pharmaceuticals Market and will triple to US$20 billion by 2015 &
move into world's top 10 in the market.
companies mainly market their products through contact between their
sales force and healthcare providers.
Main objective of
marketing in pharmaceutical industry for its profitability and its
highly effective & sophisticated.
would increasing the pharmaceutical market which are increasing
incomes, improving healthcare infrastructure, penetration of health
insurance and adoption of patented products.
market will continue to change and adapt to the new economic
The Pharma market is
growing due to several factors like the integrated model, biotech
drugs, and increased average life cycles.
companies marketing strategies appear to be a driving force in the
treatment preferences of physicians.