Pharmaceutical Market Research
Closely tied to the healthcare industry, the pharmaceutical industry is also facing challenges, including pressure on drug pricing, regulation, changing healthcare models, and the growth of global drug manufacturing and sales. By 2024 the global pharmaceutical market is anticipated to grow to over US $1.3 trillion, with a CAGR of nearly 7%, and $500 billion in the U.S. alone.
Navigating growth in such a turbulent environment requires well-executed, timely and high-quality insights delivered through pharmaceutical industry market research. Research America regularly provides these insights to companies throughout the pharma industry, building a solid reputation for helping pharma companies succeed and grow.
Research America has extensive experience and expertise in pharmaceutical market research, including:
- Brand and value proposition development
- New product launch strategies
- Customer service measurement programs
- Marketing program evaluation
- Promotional programs effectiveness
- Ad and messaging testing for key market segments
Introducing RxConnex – a Powerful New Pharmacy Data Tool
What is RxConnex?
A source for obtaining complete pharmacy records for study respondents. We have exclusive access to pharmacy records covering 85% of the US population. The service requires patient agreement and is HIPAA compliant. You will not receive any PHI as part of the process.
Why consider this service?
- Our pilot studies confirm that, in many cases, the difference between patient-reported medical conditions, products taken, and levels of compliance and the facts is very large indeed. Particularly for studies involving complex and co-morbid conditions, RxConnex is an essential validation step.
- We provide data and metrics including medication possession ratio (MPR) and proportion of days covered (PDC) as well as persistence data
- EMR data has been shown to be unreliable in terms of prescribed medicines and those actually taken by the patient.
- EMR data is very costly to obtain. The cost of RxConnex data is low and will add very little to the cost of your project.
- For smaller, qualitative studies, making sure you have the right patient respondents.
- Tracking patients’ behaviors over time.
- Adherence and/or compliance studies where patient-level data is critical to understanding patient behavior.
- Show patterns in compliance or persistence over a period of time.
- Follow specific patients and track their adherence and persistence.
- HEOR data validation and insights in outcomes studies.
- Patient flow
- Patient journey
- Buying process
- Patient segmentation
- Research for adherence programs and support programs
When you need to walk in your customers’ shoes, see the world through their eyes, experience their life as if it was your own, and to viscerally understand their unmet needs, you need a research firm which can explain how their minds are working and then how you can effectively influence their behaviors. Research America has a wide range of research methodologies and have specialized experts on staff with a very diverse toolbox.
- Superb patient journeys and customer experience reports
- Specialized research for journeys in the digital space
- HEOR for the economic and outcome journey and/or clinical trial experience
- For rare and ultra-rare diseases, our in-house recruitment unit can find and engage your targets
- Deeper, more meaningful, and more actionable results
- Can be built around your customer or patient segmentation, one of our PersonaSmart personality-based psychological models, or both
- Assurance of a project completed to the highest standard, on time, and on budget
- Rare and ultra-rare diseases and specialties
For more information about our pharmaceutical market research and how we can help you, please Contact Us.