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In a rapidly evolving and competitive landscape, the pharmaceutical industry faces unique challenges when it comes to marketing its products and services. With stringent regulations, complex target audiences, and a need for trust and credibility, pharma companies need to employ effective marketing strategies to stand out in the crowd. In this blog article, we will explore some key marketing strategies for the pharma industry that can help boost their visibility, engage their target audience, and drive business growth. UNDERSTANDING THE UNIQUE LANDSCAPE The pharma industry operates in a highly regulated environment, where compliance and ethical considerations play a crucial role. Before diving into marketing strategies, it is essential to have a deep understanding of the industry's dynamics and the target audience. Researching the market, identifying patient needs, and studying the competitive landscape are vital steps in developing an effective marketing plan. EMBRACING DIGITAL TRANSFORMATION Digital transformation has revolutionized marketing across industries, and the pharma sector is no exception. Embracing digital channels and technologies can significantly enhance the reach and impact of marketing efforts. Pharma companies can leverage social media platforms, create engaging content, and build online communities to connect with patients, healthcare professionals, and other stakeholders. Implementing robust digital marketing strategies allows for personalized messaging, real-time communication, and targeted campaigns that resonate with the target audience.

The global digital pathology market size is expected to reach USD 1.5 billion by 2028, according to a new report by Grand View Research, Inc.

The global digital therapeutics market size is anticipated to reach USD 19.1 billion by 2028, according to a new report

The global digital mammography market size was valued at USD 1.23 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.26% from 2022 to 2030.

The global market for chronic kidney disease drugs is expected to witness single-digit growth during 2019-2025. The drug pipeline of chronic kidney disease looks promising with novel therapeutic approaches, such as cell therapy, likely to enhance the market growth opportunities. However, the competition from biosimilars and complex drug development processes are impeding the market growth. Over the period, extensive research is being done to fill the unmet needs' gap. The advances in the arena of regenerative treatment have come up with budding advancement of cell therapies that help regeneration and repairing of the kidneys. Cell therapy is proficient of refining the fundamental functioning capability of the kidney. Uncontrolled high blood pressure and diabetes are the leading causes of kidney failure globally.

Covid-19 vaccine maker Novavax on Wednesday said it expects revenue this year to be flat or lower as it works to improve its commercial performance and pick up market share from much larger rivals, Pfizer and Moderna. The company posted a larger-than-expected fourth-quarter loss as revenue lagged analysts' estimates. Chief executive John Jacobs said Novavax claimed just a low-single-digit percentage market share in the US during the most recent vaccination campaign, as demand for Covid vaccines was smaller than hoped and the company got its protein-based shot to market later than its messenger RNA-based rivals. "We were disappointed with that US performance," Jacobs said in an interview. He said the company's sales force was not targeted enough toward retail pharmacy chains, and that its 5-dose vials were not as convenient for use as rivals' pre-filled syringes.

Boots registered a twelfth consecutive quarter of retail market share growth, with a reported retail sales increase of 5.9 per cent for the three months ending on 29 February 2024. This impressive growth comes on top of a 16 per cent increase recorded during the same period in the previous year, the UK's leading health and beauty retailer revealed. Strong growth was observed across digital platforms, namely Boots.com and the Boots app, with a 16.8 per cent surge in digital sales, particularly driven by "strong sales of beauty and personal care products." The growth of in-store sales remained consistent, registering a 4.5 per cent increase, with flagship, shopping center, and travel stores demonstrating particularly strong performance.

Global drug discovery services market will continue to grow, owing to upsurge in externalization of R&D activities, rising expenditure on R&D, and increasing incidence of chronic diseases. Expiration of patents boosting the demand for drug discovery and the introduction of innovative drug discovery technologies are projected to support the market growth during the forecast period 2019-2025. The global drug discovery services market, by type, is segmented into medicinal chemistry services, biology services, and pharmacokinetics and drug metabolism. Among these, the medicinal chemistry services segment accounted for the largest share in 2018 and is expected to grow at a high-double-digit CAGR by 2025. Increasing tendency of pharma companies to externalize discovery & development services, upsurge in the number of drug discovery & development activities, and growing R&D expenditure are the key factors driving the growth of the segment.

The North America digital pathology market size was valued at USD 365.8 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028.

E-pharmacy, a digital platform also known as internet pharmacy or online pharmacy, has emerged as an escape route to longstanding queues at pharmacy stores across almost all regions of the world, especially during the Covid-19 health crisis realm. They have long been recognised to act promptly in public health response, like ensuring an effective medicine supply system, resolving and monitoring drug shortage issues, educating about the proper use of PPE, promoting remote pharmacy services, and conducting drug evaluation and active surveillance. These factors will support in easing the load on healthcare facilities during the ongoing pandemic, eventually adding value to patients and the healthcare system. Overall, the e-pharmacy market size is expanding in terms of valuation on the back of regulations and standards laid by the respective governments. As per a recent study by Global Market Insights, the global e-pharmacy industry accounted for a business share of $68 billion in 2021 with an anticipated growth rate of 16.8 per cent through 2028.

Danish drug developer Novo Nordisk on Wednesday (February 1) warned of supply constraints on its best-selling drug. The company, which develops diabetes and obesity drugs, said it expected "periodic supply constraints" this year, partly driven by higher than expected demand for its blockbuster diabetes drug, Ozempic, and manufacturing constraints. "Supply of Ozempic cannot keep up with demand in some markets," Novo's Chief Financial Officer Karsten Munk Knudsen told journalists on Wednesday, but said Ozempic was available in the United States, the firm's biggest single market. Shortages of human growth hormone would also cause sales in its rare disease franchise to drop by a "mid-single digit" percentage in 2023, as its Norditropin drug would be out of stock in certain markets, Knudsen said.

Insights Care is honored to present "The 20 Leading Healthcare Solution Providers 2017" which are adapting novel technologies to meet and exceed the health care standard. We have, on our cover, Validic - a cloud-based platform and the market leader in health data connectivity that provides healthcare organizations access to personal health data, gathered from FDA-listed in-home medical devices, wearables and healthcare apps. Led by company's CEO and co-founder, Drew Schiller, Validic serves as a technical partner and strategic advisor, guiding its clients through digital health data integration and innovation. At Validic, Drew leads corporate strategy, drives key initiatives and works closely with senior executives at partner organizations to stay ahead of the technology curve. He believes that digital health will reshape healthcare.

European asset management group Aurelius has completed the acquisition of McKesson UK, marking the company's fifth completed transaction in a year. McKesson UK is the parent company of a number of healthcare businesses including LloydsPharmacy, John Bell & Croyden and AAH Pharmaceuticals. It comprises four divisions and holds a substantial market share across each vertical: retail, digital, homecare and wholesale. McKesson UK's success has been underpinned by its strong LloydsPharmacy brand, its customer base and its leading commercial footprint across wholesale pharmaceuticals. Over recent years, the company has benefited from the introduction of additional services delivered across its more than 1,300 pharmacies, a growing digital offering and the ability to support the increasing trend of primary care being delivered to patients in their home.

Day Lewis Pharmacy has enlisted Locate a Locum, a Belfast-based healthcare technology innovator, to deploy and manage a digital solution aimed at enhancing locum staffing and management across its 267-pharmacy network. "We sought a faster, user-friendly system for instant locum bookings, particularly for last-minute shifts," said Sam Patel, Executive Director at Day Lewis Pharmacy. "This tool improves communication between potential locums and our coordinators, creating more opportunities to attract talent from across the country. Our customers are our priority, and ensuring they have access to staff and advice when needed is our main focus." Locate a Locum will implement a cloud-based digital solution across the Day Lewis Pharmacy estate, allowing locums to securely search, manage, request, and receive payment for shifts, Day Lewis said in a statement. This platform enables locum staff to manage their work diaries, location preferences, and commitments, promoting balanced work-life planning. "The Locate a Locum platform allows for swift, complete payments to our locums and offers them instant booking, eliminating the need for shift confirmation wait times," Patel added. "In a dynamic market with rising demand for pharmacy services, this platform is a game-changer, driving growth and unlocking potential."

The pharmacy business is one of the most profitable businesses on the planet. However, the trends are changing and as we move forward in this digital world, we see a transition from traditional business practices to modern and digital business practices that change the whole scenario. In this era of advanced technology, if you don't keep up with the world, you lose the race. It is a fast-paced world where trends change every day, something might work today but it won't work tomorrow, it will be replaced with something better and more efficient whether it is a tool, a technique, a marketing strategy, or a manufacturing process. Everything is being replaced with better alternatives more than ever. Now it is time to realize this change and bring some new guns to your business arsenal. You can employ an auto attendant for your pharmacies, or build a website for online orders and deliveries. Online pharmacies are getting popular a lot and they are the future. Here are a few tips and tricks that you can use to run your pharmacy business like a pro.

WAGMI or 'we are all gonna make it' is an established abbreviation in the crypto world, and pharmacists can learn from it. To all the dreamers, the visionaries, the go-getters, the futurists - we need you all. In the past few months, since the rebranding of Facebook into Meta, the word 'Metaverse' has become exponentially popular and there is a huge opportunity for pharmacists to get involved. In his popular podcast, Aragorn Meulendijks, the chief marketing officer at Your Open Metaverse - YOM, gave a crystal-clear vision on the unique and valuable possibility of a metaverse pharmacy or metapharmacy. Imagine it is 2030, and there are over a billion users of Virtual Reality headsets. You have recently been hired as the new metaverse pharmacist (metapharmacist) at the global metaverse pharmacy (metapharmacy) "YOMRx". Your patient comes to your metapharmacy with their digital twin (different to digital avatar)where you are able to provide them with medical advice (metaconsultation).

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Novartis on Wednesday (February 1) predicted that core operating income would grow in a "mid single digit" percentage range in 2023 following stagnation last year, as the Swiss drugmaker prepares to spin off its Sandoz generics business. Full-year core operating income was broadly flat at $16.7 billion, it said in a statement, coming in slightly below market expectations of $16.8 billion. Adjusted for overall negative currency effects, group sales in 2022 advanced 4 per cent to $50.5 billion as gains from heart failure drug Entresto and multiple sclerosis (MS) drug Kesimpta were partly offset by competition from cheap generic copies of established MS drug Gilenya. Novartis said it was on track to spin off its generics unit Sandoz in the second half of the year as part of its effort to sharpen its focus on its patented prescription medicines. Analysts have welcomed a programme unveiled in 2022 to trim costs and cut 8,000 jobs and plans to focus on fewer therapy areas and drug technologies. But the market has been underwhelmed by prospects for medium-term growth from new drugs.

With a trusted army of loyal fans on social media, the Nordic liquid iron supplement, BlueIron, is set for a refreshed look and big ambitions under a new distribution agreement. Lanes Health, the family-owned business known for its passion and expertise in manufacturing and supplying natural and herbal remedies, has acquired the distribution rights for the Finnish brand. As part of the deal, Lanes Health has been working to refresh the packaging and website, as well as developing a robust marketing campaign involving advertising, digital, social media, PR and influencer relations. A liquid iron supplement formulated with Nordic blueberries, BlueIron provides iron which is highly bioavailable and fast working. With the added benefit of a patented micro-encapsulated form of iron, it is easily absorbed and gentle on the stomach. Iron is an essential mineral used by our bodies for many health benefits, it is important for making red blood cells, transporting oxygen around the body, supporting energy metabolism, maintaining cognitive function and reducing tiredness and fatigue.

Britain plans to launch a pilot programme exploring how new weekly weight-loss shots such as Novo Nordisk's Wegovy can be given to obese patients by general practitioners even as the drug's market launch remains unclear. The government's announcement on the £40 million pilot programme comes after drug cost-effectiveness watchdog NICE in March recommended the use of Wegovy in adults with at least one weight-related condition and a body mass index of 35, but only within the NHS specialist weight management scheme. The timing of Wegovy's launch in Britain - which would be only the fourth country to use it - is uncertain, however, after Novo last month rationed starter doses to secure supply to U.S. patients already on the regimen, after it was overwhelmed by demand there. British Prime Minister Rishi Sunak said on Wednesday (May 7) the pilot and fighting obesity-related diseases could reduce pressure on hospitals. It would also support "people to live healthier and longer lives, and helping to deliver on my priority to cut NHS waiting lists". The NHS endured a tough winter in England in particular, with waiting lists hitting record highs and staff striking for higher pay amid double-digit inflation.