EMERGING TRENDS IN WORLD PHARMACEUTICAL MARKET – A REVIEW

Abstract

As business becomes more and more competitive success depends on how well and how fast one is informed. This article is therefore an effort to find some clues about the current trends are in the world pharmaceutical markets that should be entered in the future. The use of the Internet as a source of health information and connectivity between providers and payers in the US has increased interest in e-health as a channel for the marketing of health-related products and services. In the US, pharmaceutical companies are increasingly exploring on-line direct-to-consumer advertising of prescription drugs, although the return on such marketing investments remains unclear. Our current model of the interaction between the pharmaceutical industry and the providers of e-health solutions (health portals, connectivity and technology providers) is largely influenced by the US experience. A superficial analysis would lead us to believe that restrictions on direct-to-consumer advertising of prescription drugs and the limited opportunities for private sector connectivity solutions limit the opportunities for the successful application of ehealth as a pharmaceutical marketing tool in Europe. A critical review of evolution of e-health in Europe, focusing on the strategic implications of the differences (and similarities) between the European and US e-health environments can assist us in better discerning emerging trends and distinct commercial opportunities at the interface between the pharmaceutical industry and e-health. The foundation of sustainable success in the application of e-health for pharmaceutical marketing lies in the combination of strategic alliances and technological innovation with an understanding of the context of the European market for health products and services.