While we celebrate Cinco De Mayo for the victory the Mexican army had over France at the battle of Puebla, it's important to know of other historical moments that make May 5th a special day. Here are 5 facts throughout history on Cinco De Mayo to keep in mind while having that amazing margarita and tasteful Mexican food.
In any industry, the term "marketing” is always a key factor in determining the success of a business. In the pharmaceutical industry, whether the business is being done directly to the customer or to the physician, a lot of data must be kept for executing successful campaigns. While data is important, the last thing companies want to do is market their brand to people who want nothing to do with them. So, the question becomes, how do you know who’s interested?
Today, more people have access to the internet what it was a decade ago and the number is going to increase rapidly due to the advancement of digital transformation. A report by Statista shows that the number of internet users worldwide was 3.58 billion in 2017, up from 3.39 billion in the previous year.
Due to the technological shift from last decade there is a significant change driving digital transformation in Life Sciences Industry. Life Sciences industry is always on the frontrunner in terms of Research and Development (R&D) spending, allocating nearly 15% of its total revenues to R&D. A recent report suggests that companies in the industry heavily invested in R&D in last decade which has produced a significant result. The pharmaceutical Research and Development was $142 billion in 2014 and it is predicted that the number to overcome $160 billion mark in 2020.
Advances in digital technology has brought in a transformation in the Life Science industry and is playing a defining role in product deployment. It has also changed the methodologies of medical treatments. Artificial Intelligence is set to provide treatments to patients with Personalized Medicine. The digital age is basically going to set the life science industry into new horizons and thus enhancing personalised care. This infographic highlights some ways in which technological can impact the life science industry.
With the advancement of technology and socio-economic changes in the last decade, pharma sector has seen a dramatic change in the availability of health care and quality of care for the patients. A recent report by PwC shows that by 2020 the global pharmaceutical market will be about $1.6 trillion – the US leads all the countries at $339 billion currently and is expected to be a $425 billion market.
Pharma companies are working hard to build effective patient access programs and implement an effective commercial strategy around it. Expiring patents and competitive pressure is a real challenge and companies need to explore opportunities with the help of the vast amounts of data they own. Big Data and Analytics capabilities are helping companies define that strategy and execute a plan, which will help them succeed. Facts and figures below emphasize the need of a well-planned analytics strategy.
Swapan Kumar Manna | July 19, 2017
Anupam Nandwana | January 5, 2018
Anupam Nandwana | February 8, 2017
Swapan Kumar Manna | December 19, 2017
Avirup Basu | June 7, 2018