World of Pharma Marketing, the entire customer landscape for pharmaceutical drug marketing is shifting faster than ever before.

Around the world, people are living longer. By 2050, two billion people will be over 60 years old.

In the U.S., the number of people 65 years of age and older is expected to double to 100 million by 2060.

This growing population will have tremendous buying power and, as they age, a natural focus on World of Pharma Marketing. They’ll boost the market for prescription drugs to about $1.2 trillion by 2024. This demographic shift is a powerful driver of change. Integrated health management and a cutting edge, multi-disciplinary health marketing approach will be table stakes for the healthcare providers that thrive in the coming years.

Digital strategies
A key benefit of digital transformation is the ability to evolve business models by harnessing new digital strategies. By rediscovering the consumer and their pain points, pharma companies can get closer to their customers and open up new D2C communication and sales channels.

Consumers expect pharma companies to offer value beyond therapeutics. They want a seamless experience that goes beyond purchasing a product. They want pharma to help them to improve their condition and enrich their health journey.

Pharma companies are mostly failing to deliver, creating an opportunity for disruptive startups and agile competitors to capitalize. According to a recent survey, only 47% of patients believe that pharma companies understand the emotional, financial, and other needs related to their condition.

There is an opportunity for pharma to close the gap with consumers and to deliver new value by supporting patients through their health journey. A digital transformation strategy should focus on making the organization customer-centric, with sales and marketing leading the way for more timely and relevant consumer interactions.

It’s important to gain a holistic view of the buyer’s journey. Pharma companies typically have siloed B2B and B2C business models. That is no longer a winning strategy in today’s digital landscape.

social marketing
Social marketing has been successful in delivering public health behavior changes for years. It’s an effective tool in understanding the methods for delivering information in a way that induces behavioral change. For pharmaceutical companies, this means taking a holistic view of how to market medicine. They can no longer focus solely on the positive or negative health impacts of taking a drug. Instead, they need to delve more deeply into the social, cultural, economic, and ethical impact – utilizing these insights to personalize their approach to consumers.

Investing in disruptive technologies
Pharmaceutical companies need to take note when marketing their drugs – patients today require a different approach to addressing their health problems. Mobile technologies, social media, the cloud, wearables and the Internet of Things (IoT) are just some of the new realities that are disrupting healthcare today – and is the key to enabling a patient-centric approach. In fact, investment in technologies to leverage the power of big data is a prerequisite. That’s virtually the only way to collect and appropriately utilize valuable insights from the vast and unmanageable pools of data currently out there in the health IT ecosystem.

Plan ahead of time/strong>
The pharma industry is at the start of a period of enormous change. Trends that were gathering speed before the COVID-19 pandemic have accelerated dramatically. Looking ahead, pharma leaders need to anticipate where the industry will be in five years and visualize how their company will deliver value. How will your organization improve the lives of its customers?