Global Pharmaceutical and Pharma Industry Conference

Digital Pharma & Marketing

Digital marketing will be the next frontier for pharmaceutical companies as many of them are scaling up their consumer businesses and introducing an array of consumer brands. Traditionally, marketing innovation in the pharmaceutical industry has been stunted by heavy regulatory restrictions. Historically, pharmaceutical companies have had little to no interaction with their end-users-patients-since they depended entirely on their health care providers for medical knowledge and advice. The $17 billion pharmaceutical industry is currently undergoing a digital wave. The pharma industry’s marketing spends through digital platforms is estimated to shoot up nearly 50% in the next two years to touch Rs 220 crore, Bengaluru-based market research firm Indegene’s study shows. (Source-ET) Smartphone apps and social media are predicted to be the biggest players in this growth. This means that, whether brands like it or not, they will have to indulge in digital marketing sooner or later. And if they don’t, they will inevitably be wiped out from the competition.

One must not disregard that the increasing internet usage is not merely for the purpose of socializing online, but rather in search of solutions for their problems or queries. In fact, searching for health related information is the third most common activity done on the internet. Patients these days are no longer play a passive role when it comes to medical consultation. Due to the advent of internet, people prefer to conduct a brief research on the type of drug preferred by a physician, its side-effects etc. Hence, digital marketing for pharma sector can increase trust and brand loyalty as consumers like to be addressed, informed and supported when it comes to their health.