Medical marketing market size

Pharmaceutical companies evaluate the future direction and R D activities based on medical needs, market size, patent protection, and key competencies. 

There has never been any incentive for the pharmaceutical industry to pursue research along these lines even though, as in the case of Vioxx, the end results of neglecting adverse effects may be very costly. The aim of the industry has usually been to extend the market size irrespective of potential risk and attempts to implement effective post-marketing surveillance has received little enthusiasm. It is to be hoped that company medical departments and pharmaceutical physicians will continue to support the need for a broad range of safety evaluation studies to be conducted on new medicinal products. 

Even in the developed world market, size and the contrihution a medication is expected to make to the bottom line play the largest role in determining whether companies invest in R D on new molecules. In the mid- to late 1980s, 43 per cent of the terminations in the development of new compounds were for economic reasons versus 31 per cent for efficacy issues and 21 per cent for safety problems (DiMasi 1995). Companies do not hesitate to terminate ongoing clinical trials if their commercial priorities change, despite the fact that this means that there will be no meaningful results from these trials (Psaty and Rennie 2000). 

The pharmaceutical and medical market of China is growing very quickly. The size of China s pharmaceutical market in 1992 excluding bulk drugs and traditional Chinese medicines, was 19.3 billion and 3.5 billion at the official 1992 exchange rate. This reflects overall growth of 92 and 30%, respectively, compared to five years previously. The pharmaceutical market grew by 30% in 1993-1994 to 10 billion. 

The market size is 1700 million 70% of pharmaceutical products are purchased directly from pharmacies. Koreans prefer locally manufactured medical products over imported foreign drugs. Traditional therapeutic herbal products are still widely popular. This applies possibly to most of... 

Finally, the third area represents socially important aspects that are impossible to quantify. Thus, for example, the "value" of electrochemistry to medical science far exceeds its dollar market size. 

Wipes are used to clean surfaces and can be used in either dry or wet/impregnated form. Disposable nonwoven wipes are increasingly used for diverse personal, household, industrial and medical applications. Global market size of wipes is more than 4 billion USD and is growing rapidly. There are some of foe application areas where foe contaminated environment is undesirable. For example, medical applications, clean room applications, skin care wipes. In such applications we require high level of cleanliness and thus release of particles from foe wipe used for cleaning the surface is totally undesirable and we need to assess lint release characteristics of foe wipes before their use in these applications. The major properties desired in a medical wipe material... 

Market size (Sbillion) World Market (%) Health Expenditure (% GDP) Medical Devices per capita ( ) Average Growth rate 1990-2000... 

For Tanzania, the domestic market size for medicines was estimated at around US 250 million in 2011-12. Of this market, public wholesaler (MSD) sales were aroimd 50% (US 125 million), of which 70% in turn were donor-funded vertical programme sales (MSD, 2013). That leaves just US 37.2 million as government-funded MSD procurement, or 15% of the total market. However, the Ministry of Health and Social Welfare has estimated that only aroimd 30% of the pooled public funds held by public health facilities in accounts at MSD for medicines and medical supplies were locally tax funded, equating to around US 11.3 million, the rest coming from donor basket funds (MoHSW, 2013 4-5). The implication is that just 5% of Tanzanian medicines were tax-funded in 2011-12. 

Because of today s myriad regulations, the NDA submission has become a compilation of information that could be compared in size with any one of the well-known encyclopedias. Before 1962, only a few volumes were necessary for an NDA submission [11]. Today it is not uncommon for this justification to consist of as many as 200 volumes of information (see Table 2). It is important for the pharmacy and medical practitioner to have some sensitivity to the many requirements and high cost placed on manufacturers who develop and market new drugs (especially new drug substances) today. 

However, this sanguine view may not necessarily hold for health care markets in which information is typically incomplete and/or there is asymmetric information between buyers and sellers. While some consumers medical conditions may be undertreated and may thus benefit from DTCA that focuses on providing information regarding unmet needs, for other consumers DTCA may lead to inappropriate, unnecessary, and perhaps more costly treatments. Hence, if DTCA results in increasing the size of the market being served, in health care DTCA may or may not be welfare-enhancing. There is a substantial literature on this issue (see, e.g., Kravitz et al. 2005). 

Absent of outside factors, a pharmaceutical company typically addresses diseases affecting large numbers of patients. The size of the market is estimated based on studies of demographic and medical information. Once a disease with a favorable market has been selected, the decision is passed along to the molecular biology team. 

For any value-added pharmacy service to be viable, there must be a sufficiently large number of consumers in the market who may be willing to purchase the service. Investing too many resources into a service that benefits a small number of consumers ultimately will lead to the demise of any business venture. Several sources can be used to determine the size of a market for a professional service. The easiest place for a business planner to start is to review a pharmacy s patient profiles, purchasing and financial records, and other internal data. Knowing how many prescriptions are filled for different classes of medications will help the planner to determine which conditions are the most prevalent among the pharmacy s patients. The only downfall of this method is that the information is limited to the pharmacy s current clientele. Many pharmacies would like to provide value-added pharmacy services that attract new patients. 

The size of laboratory medicine has become quite considerable, comprising tens of thousands of laboratories in Europe alone not counting near -patient examination sites in clinical departments, hospital wards, and general practitioners offices. The expenses for all these activities are around one-twentieth of the costs of health services in industrialized countries, and the global market of in vitro diagnostic medical devices is now about 25 thousand million a year. 

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