The Essential European Revolution
Why multichannel is vital to Europe, why it is lagging and what can be done about it
White Paper
Aug 03, 2018

2016 has brought with it growing uncertainty on the future prospects of the emerging pharmaceutical markets - the big beasts of China, Brazil and Russia are especially challenged for future growth. The message for Europe for the next five years is therefore, whilst the region may be tough commercially, it is absolutely necessary if you are launching innovative protected products.

With reduced budget for sales force and more specialized, demanding healthcare professionals as an audience, pharma marketeers must leverage state of the art technology and information management systems to deliver rich content and services to their customers. This is best achieved with an orchestrated customer engagement strategy which exploits the full potential of digital platforms.

The mature pharmaceutical markets of the US, Japan and Europe are still at the heart of growth for companies with innovative and protected products, and especially specialty/biologic launches. Previous IQVIA white papers have shown just how much companies launching new chemical entities rely upon these mature markets for their global success in the first five years of life - typically, over half of all global sales value in the first five years comes from the US alone, and almost one third of sales value from the major European markets. 2016 has brought with it growing uncertainty on the future prospects of the emerging pharmaceutical markets- the big beasts of China, Brazil and Russia are especially challenged for future growth.

The message for Europe for the next five years is therefore, whilst the region may be tough commercially, it is absolutely necessary if you are launching innovative protected products. With reduced budget for sales force and more specialized, demanding healthcare professionals as an audience, pharma marketeers must leverage state of the art technology and information management systems to deliver rich content and services to their customers. This is best achieved with an orchestrated customer engagement strategy which exploits the full potential of digital platforms.

But as companies seek maturity in multichannel commercial models, there’s a key problem in Europe: as shown in IQVIA’s previous multichannel white paper, top 5 European countries lag the US and Japan significantly in terms of the volume share and relative impact of digital contacts with prescribers and whilst digital is by no means all of multichannel, it’s impossible to imagine a mature multichannel model without digital.

 

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