Falling Margins in Pharma - increasing ROI through CRM (Market Focus): Industry

Falling Margins in Pharma - increasing ROI through CRM (Market Focus)

Published Date: July 2007

Published By: Datamonitor

Page Count: 15

Order Code: R313-23925

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DATAMONITOR VIEW
CATALYST
SUMMARY
ANALYSIS: Pharmaceutical companies are facing a multi-layered assault on their profit margins; The pharmaceutical industry is facing pressures from all sides; The end of an era for blockbuster drugs; Lack of drugs coming to market is only compounding the pharmaceutical industry's problems; Power to the people: fuelling the need for CRM in Pharmaceuticals; The patient is becoming an important influencer within the decision making process; The sales force has become less effective fuelling the need for a new strategy; Lack of ROI to date is holding pharmaceutical companies back from investing in CRM; Pharmaceutical companies are yet to see a ROI on their older CRM investments; Pharmaceutical companies do not have sufficient reference points for other CRM implementations; While an enterprise wide solution CRM solution is sought it can slow down the rate of implementation; Despite these inhibitors Datamonitor projects strong growth; Each region is producing differing challenges for the pharmaceutical industry; The US has the most consumer driven drugs market; Japan and Italy have cost constraints set by their governments on drug pricing; Pharmacoeconomics are becoming increasingly important in the UK
ACTIONS: Vendors need to use their references to help sell CRM solutions; The changing customer means vendors need to evolve their solutions
APPENDIX: Definitions; Methodology; Further reading; Ask the analyst; Datamonitor consulting; Disclaimer
List of Figures: Figure 1: The pharmaceutical industry is facing pressures pricing from all sides; Figure 2: NMEs per year vs. Global R&D spend ($billion) 1980 - 2003; Figure 3: How CRM can maximize sales force effectiveness; Figure 4: Process by which patients become more influential in drug prescription; Figure 5: How likely are the following factors to affect or impact your prescribing decisions?; Figure 6: CRM in pharmaceuticals market for Europe, North America and Japan, 2006-2012; Figure 7: Percentage CRM market share in pharmaceuticals, 2007; Figure 8: CRM in pharmaceutical market size in Italy and Japan, 2006-2012