Picture by ArtPhoto_studio, taken from Freepik
In the rapidly evolving pharma industry, digital transformation is no longer a mere buzzword—it’s an imperative. Digital sales strategies will be amongst the top three critical success factors to stay in business long term. Business development managers will be at the forefront, developing strategies for their companies to engage with patients, doctors, partners and markets/countries through digital and traditional channels. The Chameleon Pharma Consulting Group (CPC) study will be presented at the CPHI in Milan on October the 8th, with a strong focus on what this digital transformation means for business development managers in shaping the future and for their companies.
The analysis done by Chameleon Pharma Consulting Group explores the key aspects of digital transformation, offering insights for BD managers, the outlook to 2030, and the strategic analysis based on the example of crucial and already advanced markets as the US, China, Mexico, and Germany. These countries are at the forefront of the digital revolution in healthcare each offering unique opportunities and challenges. Will they be the blueprint for other European markets to follow?
Figure 1: Internet Usage (% of Population)- Chameleon Pharma Consulting Group
Outlook 2030: The Future of Digitalized Pharma
By 2030, the digital transformation of the pharma industry is expected to be well underway. Key trends include the widespread adoption of telemedicine, e- prescriptions, and online marketplaces. Wearable devices and artificial intelligence will revolutionize health monitoring and remote clinical trials, providing high-quality patient data and facilitating personalized medicine.
Figure 2: E-prescription Adoption Rate in Focus Countries: A Comparative Overview – Chameleon Pharma Consulting Group
Pharma companies will increasingly rely on data analytics to create personalized shopping experiences, responding quickly to changes in demand and market conditions. The future will also see expanded telemedicine services, including advisory services, personalized medication plans, and online consultations, enhancing patient access and convenience.
How can you Leverage Pharma Digitalization in the US, China, Mexico, and Germany?
- United States: The US leads in digital health solutions, with over 90% of prescriptions filled electronically. Platforms like Surescripts facilitate the seamless exchange of health information, highlighting the advanced state of the US healthcare system. The integration of e-prescriptions and digital pharmacies exemplifies the country’s leadership in health digitalization.
- China: Despite lower internet usage in some regions, China is rapidly advancing in telemedicine and e-prescriptions. Platforms like AliHealth provide comprehensive online healthcare services, significantly benefiting chronic patients. The ongoing improvements in internet connectivity promise to enhance healthcare accessibility and efficiency further.
- Mexico: Mexico represents untapped potential in the e-health sector. Companies like Telemed Mexico are revolutionizing access to healthcare, offering telemedicine consultations and e-prescriptions. Expanding into Mexico allows pharma companies to tap into significant growth opportunities and diversify their market presence.
- Germany: Germany is gearing up for a digital leap with initiatives like Gematik driving e-prescriptions. The country’s stringent regulations on pharma sales are evolving, paving the way for broader adoption of digital health solutions. Germany’s well-regulated market offers stability and growth potential for digital health initiatives.
Figure 3: Share of Online Pharma Sales vs. Offline Pharma Sales in the US, China, Mexico, Germany – Chameleon Pharma Consulting Group
What Digital Transformation Means for BD Managers
Digital transformation is reshaping healthcare, presenting new opportunities and challenges. For BD managers, this means adapting to a landscape where traditional sales processes are becoming obsolete. As highlighted by the Chameleon Pharma Consulting Group (CPC), integrating digital platforms and mobile apps is crucial. BD managers must focus on understanding market dynamics and competitor landscapes through digital tools and social media strategies to support successful product launches.
The shift also demands moving from relying solely on home market sales to exploring international markets. Expanding into regions like Mexico, China, and others not only offers significant growth potential but also enhances business resilience against market saturation. Additionally, the rise of digital B2B platforms, such as CPC’s Digital International Local Partner Launch Platform (CPC ILP), enables better collaboration with local distribution partners, facilitating smoother market entry and expansion.
Overall, the analysis done by Chameleon Pharma Consulting Group (CPC) underscores the crucial role of digital transformation in shaping the future of the pharma industry. A more detailed analysis, including the implications of the digital shift for business development managers, will be presented at the CPHI conference in Milan.
Have you thought about how digital transformation can support you in lengthening your product lifecycle? What does this mean for your company and its future growth? Please contact Mr. Reiner Christensen by e-mail service@chameleon- pharma.com.
