Why Market Segmentation Is a Linchpin for Success in the Pharma Industry | Infiniti’s Latest Blog Explains
LONDON--(BUSINESS WIRE)--Nov 19, 2019--
A well-known market intelligence company, Infiniti Research, has announced the completion of its latest article on market segmentation in the pharmaceutical industry. This article covers:
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Market segmentation in the pharmaceutical industry. (Graphic: Business Wire)
- An overview of the global pharmaceutical industry
- Different types of pharma market segmentation
- Checklist for an effective market segmentation strategy
- Benefits of market segmentation in the pharma industry
“Market segmentation process enables pharmaceutical companies to move beyond product features and benefits or brand position to see specific needs through the eyes of different market segments and this is an essential component of success for pharmaceutical companies,” says a pharma industry expert at Infiniti Research.
Increasing costs and demand for affordable healthcare continue to challenge the traditional business assumptions and economics of the pharmaceutical industry. This consequently results in the rise of internal development risks, costs, and time requirements for clinical trials. To add to the complexity, pharma markets have become fragmented as providers, patients, physicians, and payers look for focused solutions that have optimal safety and efficacy profits for a narrower population of patients. Additionally, the role of greater transparency, reference pricing, and changes in decision-making are essentially shifting decision-making authority away from individual physicians to healthcare administrators and payers. These dynamics result in the complexity of product decision-making and continue to challenge the effectiveness of traditional commercial models in the pharmaceutical industry. This is where the role of market segmentation comes into play. Some of the key benefits that pharma companies can gain by leveraging market segmentation solution includes:
- Helps understand target customers
- Provides detailed information on consumer personas
- Aids in pharmaceutical marketing
- Provides crucial information on the factors driving behavioral change
Rising demand for personalized treatments, an ageing population, and the rise of new manufacturing technologies are some of the primary growth opportunities for the pharmaceutical sector. Request a free proposal to know how our solutions can help you stay prepared to cope with the market trends and changes.
You may also like to read some of our recent articles on pharmaceutical industry:
- Smart Packaging: The Next Big Thing in the Pharma Industry
- Identifying Critical Pharma Logistics Challenges in Canada
- Illuminating the impact of Brexit on Europe’s Pharmaceutical industry
Emerging markets represent an exceptional opportunity for the pharmaceutical sector. Request a free brochure for more insights on how to capture the true value of the pharmaceutical market with Infiniti’s market intelligence solutions.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https ://www.infinitiresearch.com/about-us
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CONTACT: Infiniti Research
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INDUSTRY KEYWORD: CONSULTING PHARMACEUTICAL PROFESSIONAL SERVICES HEALTH
SOURCE: Infiniti Research
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PUB: 11/19/2019 09:16 AM/DISC: 11/19/2019 09:16 AM