Pharma

Industry Insights

The global pharmaceutical market in 2010 is projected to grow 4 – 6% exceeding $825 billion. The global pharmaceutical market sales is expected to grow at a 4 – 7% compound annual growth rate (CAGR) through 2013.

Today’s Pharma organizations are challenged by a changing landscape of consumerism, technology and regulation—a combination that requires a fundamental revamp of business processes and technology investments. Plus, companies are continually pressed to do more with less, even as costs continue to rise across the board.

The industry has traditionally relied on aggressive marketing to promote their products. For years, it has an unshakable belief that larger the field, the greater was the market share. However, many of the industry’s largest markets are now saturated with sales representatives, and its selling techniques are becoming increasingly ineffective. The industry has begun to accept the reality that this model no longer guarantees growth and future profitability.  The opportunity lies in improving Salesforce effectiveness by utilizing new technologies.

Introduction of iPad and now other tablets is going to change the way Product catalogues are distributed. Many sales functions like lead management, opportunity management, product catalogues , email etc are going to move to a mobile medium in a much more effective way than has ever been using these tablets. Many companies who have already invested huge sums of money in traditional sales mobility solutions will now have to rethink and move to much more standardised  tablets like iPad and Android which will give significant cost advantages as well as usability