New technology always presents a complex mixture of both challenges and opportunities for companies. The newest technology challenge for the pharmaceutical industry comes from all the smartphones and social networks that now keep us constantly connected. While other industries have latched onto the opportunities offered by social media, pharma companies have been hesitant to do so.
That’s not to say pharma doesn’t want to. In fact, a recent study by Cutting Edge Information found that many pharmaceutical companies recognize the advantages of using social media (82% of those surveyed said they engage in at least one type of social media activity), but are keeping a cautious distance due to concerns about regulation compliance and return on investment. Continue reading
Mobile health (mHealth) may be the buzzword of today, but this one will not be just another flash in the pan. Mobile health offers the life sciences industry far-reaching capabilities to connect with various stakeholders – from patients and caregivers to physicians and pharmacists. This connectivity makes mobile health a valuable tool not likely to be dispensed with anytime soon. Projections show the mobile health industry increasing dramatically: research2guidance found that the global smartphone mHealth app market increased by a factor of 7 from 2010 to 2011, reaching $718 million (USD). This growth is predicted to continue. PwC India projects that the mHealth market will be worth $23 billion by 2017. So what is it about mHealth that is going to fundamentally change healthcare? Continue reading
The Internet, social networking sites, mobile media and other digital forces are rapidly changing how doctors and patients access information about prescription drugs, medical devices and other treatments. Cutting Edge Information has launched a new survey project geared toward understanding the evolving role of mobile health within the pharmaceutical industry. If you would like to take part in the project, please visit http://www.mobilehealthsurvey.com/.
Several recently published studies indicate physicians are spending more time consulting the Internet as a medical resource. Continue reading
Our recent survey of pharma companies revealed that 58 percent have dedicated digital marketing groups. I think it’s safe to assume at this point that the digital revolution is real and is only going to continue to wield enormous influence over the way in which companies conduct business, particularly marketing’s ability to communicate with physicians, patients and other stakeholders. In the coming decade, Continue reading