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Market Research on Telehealth

  • Trends and overall directions in which Telehealth is moving globally:

Healthcare is now routinely delivered by telecommunications-based services in all developed countries and an increasing number of developing countries. Telemedicine is used in many clinical specialties and across numerous healthcare settings, which range from mobile patient-centric applications to complex interactions amongst clinicians in tertiary referral hospital settings.

The wide-scale adoption of telehealth dates from the 1990s, but its development in the early stage was constrained by the limited telecommunications infrastructure and the high cost of peripheral devices allowing user access. The twenty-first century has seen an explosion in the availability of these aspects, and telehealth is taking advantage of this situation.

Several classification schemes, or taxonomies, have been proposed to describe the context in which telehealth applications are found. These generally include at least the three broad characterizations of the relevant clinical specialty concerned, the connectivity technology being used, and the care model being supported. The range of clinical applications has steadily expanded to include more complex and demanding specialties, such as intensive care or emergency medicine. From the technology point of view, the exponential expansion of telecommunications infrastructure is helping to drive new telehealth technologies, especially as broadband becomes ubiquitous. New care models are sometimes a by-product of these technologies, and concepts such as patient centricity and networks of caregivers are emerging as healthcare trends driven at least in part by this technological explosion.

Early telemedicine developments were popularised around the ‘teleconsultation’ model of delivering healthcare despite a physically separated clinician and patient. This practice has become widespread, and the associated behavioral and technical issues have been well documented. Economic analyses have shown that cost effectiveness of synchronous telemedicine vary widely according to the delivery setting. Contemporary directions in synchronous telemedicine are now addressing less obvious and less simplistic areas, where high impact clinical benefits can be obtained at the expense of more complex interactivity and a more sophisticated technical environment.

 

 

 

  • Who are the main players in this area (Major firms):

The major firms are as follows:

–            American Well

–           Doctor on Demand 

–            First Opinion.

–           MDLIVE

–           Pager App

–            PlushCare

–            SnapMD

–            Spruce

–            Talkspace

  • Analyse how Telehealth can be applied to the pharmaceutical industry with the goal of tying and linking customers together, and increasing sales (from point of view of pharmaceutical companies and pharmacies)

The continuum of care concept extends beyond the traditional definitions to a comprehensive, coordinated system of care designed to meet the needs of people with complex and/or on-going problems efficiently and effectively.

A continuum of care is patient-oriented, not provider or payer-oriented. The orientation is to organize services according to patient’s needs, not according to a provider’s convenience or a payer’s rigid guidelines. The ideal continuum takes a holistic approach emphasizes wellness rather than illness and need not be owned by a single entity. The key is to be able to give patients access to the services they need when they need them.

Striking a balance between high tech and high touch patient care, telehealth solutions allow nurses, clinicians and coaches to provide appropriate clinical services in tandem with behavioural and motivational coaching. A more convenient, consistent and efficient approach to the delivery of healthcare, telehealth solutions empower patients and their families to make better decisions resulting in improved outcomes, lower costs and reduced pressure on limited resources.

For the full market report please contact info@five4.co.uk for further details.

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Market Report – Pharmaceutical Industry

 

INTRODUCTION TO THE PHARMACEUTICAL INDUSTRY

The pharmaceutical industry is responsible for the development, production and marketing of medications. Thus, its immense importance as a global sector is inarguable. In 2014, total pharmaceutical revenues worldwide had exceeded one trillion U.S. dollars for the first time.

More than any other industry, the pharmaceutical sector is highly dependent on its research and development segment. Some pharmaceutical companies invest 20 percent and more of their revenues in R&D measures. This share can be significantly higher at small, research-specialized companies.

MARKET SIZE OF THE PHARMACEUTICAL INDUSTRY

The global market for pharmaceuticals reached $1.2 trillion in 2018, up $100 billion from 2017, according to the Global Use of Medicines report from the IQVIA Institute for Human Data Science and also a report from statista.com.

The factors that affect the pharmaceutical market size include disease prevalence, drug affordability, consumer attitudes, government policies and some supply-side factors:

  • Disease prevalence is related to population size, age, genetic inheritance and behavior (infectious disease incidence is lower where sanitation practices are better; sedentary lifestyles also encourage chronic disease).
  • Affordability is related to income but also to drug prices.
  • Consumer attitudes include willingness to use alternative therapies or distrust of taking drugs.
  • Government (and insurance company) policies affect reimbursement and who the payer is. Other government policies determine regulation, which can be a significant barrier to the launch of new treatments.
  • A major supply-side factor is availability of an appropriate treatment, which may be a matter of quantity, as in an epidemic, or of drug discovery and development.

World Pharmaceutical Sales by Region

The pharmaceutical industry is best known for manufacturing pharmaceutical drugs which aim to diagnose, cure, treat, or prevent diseases. The pharmaceutical sector represents a huge industry, with the global market valuing in at nearly one trillion U.S. dollars. The best known top global pharmaceutical companies are Pfizer, Merck and Johnson & Johnson from the U.S., Novartis and Roche from Switzerland, Sanofi from France, etc. Accordingly, North America and Europe are still the largest global submarkets for pharmaceuticals.

New pharmaceutical products

The goal of R&D is to produce new drugs and compounds. Globally, the U.S. pharmaceutical industry created the largest number of new drugs and compounds between 2013 and 2018, followed by Europe[1]. Among U.S. pharmaceutical companies, there are various levels of success for new drugs depending on the phase of development.

KEY SEGMENTS IN THE PHARMACEUTICAL MARKET

The largest pharma market globally is for musculoskeletal drugs. These are treatments for diseases such as rheumatoid- and osteo- arthritis, osteoporosis, carpal tunnel syndrome, tendonitis, rotator cuff tear, muscular dystrophy, myasthenia gravis, lupus erythematosus and others. Major drugs in this segment include Piroxicam Glaxo, Dolonex, Felden, and Piroxicam Pfizer. The segment accounted for 14% of the global total. Cardiovascular, oncology and ant-infective drugs are the second third and fourth largest markets.

 

COMPETITIVE LANDSCAPE & TOP PHARMACEUTICAL COMPANIES

Top pharmaceutical companies include:

  • Novartis
  • Sanofi
  • Pfizer
  • Hoffman-La Roche
  • Gilead

MARKET SHARE OF THE TOP PHARMACEUTICAL COMPANIES

The top ten pharmaceutical companies by market share in 2018 are;

  1. Pfizer Inc – 5.6%
  2. Novartis – 5.44%
  3. F Hoffmann-La Roche Ltd – 4.69%
  4. Merck & Co Inc – 4.44%
  5. Johnson & Johnson (J&J) – 4.27%
  6. GlaxoSmithKline Plc – 4.19%
  7. Sanofi – 4.11%
  8. AbbVie Inc – 3.43%
  9. Bayer AG – 2.84%
  10. Eli Lilly and Co – 2.57%

 

 

NEW SALES MODELS IN PHARMACEUTICAL INDUSTRY

The pharmaceutical industry is undergoing a commercial evolution. Traditional sales and marketing tactics — such as the classic in-person sales rep model — have declined, straining under the pressure of rising costs, new regulations, increasing provider consolidation, changing operating models, and greater market complexity.

It has been noted that many companies have simply tweaked their old models to adapt to a changing market in place of implementing new strategies, full commitment and buy in to New Commercial Models (NCMs) is crucial for success.

NEW MODELS TESTED:

  • KAM
  • Clinical Sales Force
  • Patient/Physician Portals
  • Social Media
  • Dynamic Channel Management
  • Product/ Budget Outcome Models
  • Product Specific Value Added Services
  • Above The Brand Services
  • Joint Research/ Analytics With Payers & Providers
  • Disease Management Services
  • Innovative Pricing & Contract Structure

Recent marketing strategies for pharmaceutical companies

  1. Marketing through influencers
  2. Messaging apps for pharma
  3. Chatbots for pharma
  4. Drug Discount Cards
  5. Content Marketing

TECH ADVANCEMENTS IN PHARMACEUTICALS

  1. Precision medicine
  2. mHealth sensors
  3. 3D printing
  4. Nanotechnology
  5. Nanobots
  6. Synthetic 3-D tumors
  7. Microenvironments
  8. Advanced instrumentation
  9. Bioinformatics
  10. Medication Therapy Management
  11. Utilization of supercomputers to make complex decisions
  12. Drug experimentation on simulation models
  13. Robotic surgery
  14. Wireless brain sensors

 

For the full market report please contact info@five4.co.uk for further details.

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Dubai Market Study

1. Country Analysis

1.1 Country Overview

Dubai is the largest and most populous city in the United Arab Emirates. On the southeast coast of the Persian Gulf, it is the capital of the Emirate of Dubai, one of the seven emirates that make up the country.

Dubai is a global city and business hub of the Middle East. It is also a major global transport hub for passengers and cargo. Oil revenue helped accelerate the development of the city, which was already a major mercantile hub, but Dubai’s oil reserves are limited and production levels are low: today, less than 5% of the emirate’s revenue comes from oil.

1.2 Dubai’s Economy

Dubai’s economic base is diversified, yet closely intertwined with the growth rates of its international trading partners, and this complex relationship can positively boost or lower the impact of financial trends worldwide. This chapter presents historical data on Dubai’s annual GDP and the correlating economic performance of other selected advanced and emerging world economies. Background data is also presented on Dubai’s trading relationships with regional GCC partners as well as major players such as China, the US, Russia and India.

1.3 Global, Regional & Dubai Growth Trend

Dubai’s economic performance in 2017 has been influenced by its exposure to economic conditions in the region in which it resides and to the prospects of some of its main trading partners, particularly Saudi Arabia, Oman, Kuwait, and Iraq. Falling oil prices dampened demand in this region, particularly in the GCC, holding back the strength of Dubai’s growth in 2017. Economic growth in Saudi Arabia turned negative in 2017 falling by minus 0.9 per cent in constant prices from 1.7 per cent in 2016.

1.4 Dubai International Financial Centre

Despite the global slowdown in cross-border capital flows since 2007, the Dubai International Financial Centre (DIFC), acting as an offshore financial hub in the Middle East, Africa and South Asia (MEASA) region, has steadily expanded its role and was ranked first in the area as a result of its achievements in 2017. Set up in 2004, the DIFC lies in a strategic location midway between the global financial hubs of London and New York in the west and Singapore and Hong Kong in the east.

1.5 Investment Opportunities

Foreign Direct Investment

According to the Dubai FDI Monitor, in 2017 AED 27.3 billion (US$7.4 billion) in Foreign Direct Investment (FDI) capital entered the emirate, a rise of 7 per cent over the previous year, an increase greater than the growth in real GDP. FDI, net inflows, as a percentage of GDP in the emirate stood at 6 per cent in 2017 compared with 2.7 in the UAE as a whole, 0.2 per cent in Saudi Arabia, 4.0 per cent in Oman and 1.8 per cent in the MENA region as a whole.

Indicators of Dubai’s Economy

Dubai’s Gross Domestic Product (GDP)

Dubai’s GDP in constant prices reached AED 389.4 billion (US$106.1 billion) in 2017, up by 2.8 per cent from AED 378.8 (US$103.2 billion) in 2016. This can be compared to a higher rate of growth of 3.1 per cent achieved in 2016. Dubai’s economic performance is often compared to cities similar in terms of size and in their dependence on international trade.

2. Performance of the Main Sectors in Dubai’s Economy

Dubai’s GDP structure is shown in the data produced by Dubai Statistics Center which breaks down total GDP into twenty economic activities. In 2017 the main seven of these sectors accounted collectively for 76.5 per cent of GDP, down slightly from their share in 2016.

2.1 Dubai’s Tourism and Economic Development

Dubai is the most popular tourist destination in the Gulf and the fourth most popular destination worldwide according to Master Card’s Global Destination Cities Index. According to the World Travel and Tourism Council the sector directly contributed 3.2 per cent of global GDP or US$2.57 trillion in 2017.2 The total contribution taking account of indirect effects on other sectors and multiplier effects based on induced investment spending and the collective spending of governments and of employees was estimated at 10.4 per cent of global GDP. This is expected to grow by 3.8 per cent per annum from 2018 to reach 11.7 per cent of world value added by 2028.

INVESTMENT INSIGHT INTO THE TOURISM SECTOR

While Dubai was ranked fourth by MasterCard’s Global Destination Cities Index, it was ranked first in terms of total expenditure by tourists amounting to US$29.7 billion (AED 109.3 billion dirhams) in 2017 ahead of London with a growth rate for the emirate of 6.2 per cent over the previous year.

2.2 Wholesale and Retail Trade

Wholesale and retail trade is the most important activity in the services sector in Dubai and in 2017 it represented 26.6 per cent of GDP (in constant prices. The wholesale and retail sector has evolved over the years, due to factors such as the creation of a modern and robust infrastructure, effective distribution channels to neighbouring emirates, rapid urbanization and the shift of shopping centres to suburbs instead of town centres. This chapter identifies strengths and challenges to Dubai’s retail trade, along with its important correlation to the tourism sector.

2.3 Banking, Insurance and Capital Markets

Banking, capital markets and insurance activities accounted for the third largest sectoral contribution to Dubai’s GDP in 2017 generating value added of AED 40.5 billion or 10.1 per cent of the total. In terms of employment, the sector ranked in 11th place among 20 sectors in the economy and labour productivity was among the highest with AED 868,785 per worker, in 3rd place.

 

 

3. Market Analysis by industry

 

  • Advertising
  • Apparel
  • Arts & Crafts Making
  • Automobile 
  • Beauty
  • Bookkeeping
  • Computer Related Businesses
  • Consulting
  • eCommerce
  • Education
  • Entertainment
  • Fish Farming
  • Food Processing & Delivery Services
  • Green Business
  • Handyman
  • Home Based Cooking Business
  • IT Industry
  • Jewellery making
  • Oil & Gas
  • Photography
  • Poultry Farming
  • Real Estate
  • Recruitment Agency
  • Recycling Business 
  • Retail
  • Security Service
  • Telecommunication
  • Tourism
  • Transportation
  • Vending

For the full market report please contact info@five4.co.uk for further details.