Abstract:

With the increasingly international nature of the pharmaceutical industry, market researchers are faced with the task of analysing companies and product sectors that are exposed to a wide variety of operating conditions. Whether conducting analysis at the corporate or operational level, it is essential that the researcher should overlay a macro-analytical perspective, in order that no vital element of the analysis is omitted or operationally invalid assumptions or judgements are made. Geographical market analysis should not concentrate on the pharmaceutical market alone. Wider aspects such as economics, politics and the operation of the healthcare system should be examined. Careful attention should also be given to factors which can effect a company's prospects in a market, such as the regulatory process, pricing, generics, patents and trademarks. In the same way, company analysis should not be conducted principally at the level of products but wider aspects of corporate activity should be considered which can impact upon a company's competitive challenge. The elements of macro-analysis outlined are essential inputs into the assessment of new product potential. Financial and operational parameters can also be analysed to highlight strengths and weakness of competitors and also serve as a useful indicator of your own company's position relative to the industry.