RESEARCH TRIANGLE PARK, N.C. -- (BUSINESS WIRE) -- Emerging markets play a significant role in pharmaceutical brands’ launch sequence strategies, though the lack of available market information limits timing of drug launches in these countries, according to a new study by Cutting Edge Information.
The study, “Pharmaceutical Launch Sequencing: Mapping Commercialization Opportunities to Maximize Global Value and Expand Market Access,” found that pharmaceutical companies struggle to accurately forecast market potential when faced with emerging markets’ lack of available market information and outsourcing services. Surveyed companies ranked market information as highly important. While brand teams incorporate emerging markets more in their plans, these countries are still not readily included in their first or second launch waves.
In less familiar markets, drug companies often rely on outsourced vendors for market information. However, in emerging markets – especially Russia, India and China – some surveyed companies reported that strong vendors are often not available to assist their launch efforts.
Nearly all drug manufacturers rely on data aggregators who compile prescription sales metrics to forecast market potential. In emerging markets, these numbers are typically not as robust as they are in developed markets such as the US and UK. With few reputable sources to provide these data, pharmaceutical companies often rely on their own data gathered over time. Especially in developing countries, the best way to understand their market is to establish a presence there.
“One of the benefits of building infrastructure in emerging markets is building a knowledge base that is very difficult to gather through secondary information,” said Adam Bianchi, chief operating officer at Cutting Edge Information. “Market information in secondary markets is very difficult to obtain because fewer companies are collecting it.”
“Pharmaceutical Launch Sequencing: Mapping Commercialization Opportunities to Maximize Global Value and Expand Market Access” (www.cuttingedgeinfo.com/research/marketing/global-launch-sequencing/) benchmarks global launch sequencing metrics and market access challenges in 14 individual markets. Use this report to:
For more information about global launches and market access, contact Cassie Demeter at 919-403-6583.