Wednesday, February 13, 2008

Healthcare Analytics : Indian Scenario

Healthcare Analytics is not much discussed in India. It is yet to hit the shelf in a big way but Healthcare Analytics out-sourcing/Off-shoring is growing quite rapidly. There are few companies like GSK, MarketRx, etc who are leading the fray while others like Marketelligent are trying to enter this fray.

Overview of Indian Healthcare Market

I would like to divide the Healthcare Market into four sectors. Here are these with their market size and future potential.

1. Healthcare Medical Tourism (current:$350 Million; 2012 : $2 Billion)

2. Private Healthcare Spending (Current : 13.6 Billion; 2012 : $33.6 Billion)

3. Healthcare Insurance (Current : $83.6 Million; 2012 : $2.8 Billion)

4. Pharmaceuticals Industry (Current : 22.2 Billion; 2012 : $60 Billion)

The Major players are :

Hospital Chains:

a. Apollo Hospitals

b. Escorts Hospitals

c. Max Hospitals

d. Wockhardt Hospitals

e. Fortis Hospitals

Pharmaceutical Companies :

1. Ranbaxy

2. Dr. Reddy’s

3. Sun

4. Cipla

5. Aurobindo

6. Lupin

7. Cadila

8. Wockhardt

9. Orchid

10. Glenmark

… etc. These are just the few major players. Apart form them there are large number of smaller domestic players and subsidiaries of large foreign players like Pfizer, Glaxo, Wyeth etc.

Structure of Typical Indian Pharma Company

  • Marketing
  • Sales
  • Organisation (Equipment) Management
  • HR Management
  • Inventory Management
  • Contract Management

Some Truths About Indian Pharma Industry:

  • Indian Pharma Industry is growing at a rate of 10% annual, global growth rate is 7%
  • Indian Pharma Industry is worth US $6 billion currently
  • 2007-08 Patent Change Regime will open up US $65 billion global market for Indian companies
  • Indian companies accounts for 22% of global generics market
  • India set to become regional hub for R & D, manufacturing and exports

Issues with Pharmaceutical Companies :

  • Operational Issues
    • Administrative cost
    • Staff and Equipment cost
    • Cost of non-complience
    • Cost of Adverse Drug Entry sue
    • Cost of Replacing Legacy Application and information syatem in line with contemporary technology and regulation
  • Regulatory Issues
    • Indian Drug Administration regulations.
  • Quality Control (Benchmarking) Issues
    • Related to WHO norms.
    • ISO 9001 Certification
  • Marketing Issues
    • More Hospital Chains and Pharma Retail Chains entry to the Heathcare Market requires change in Marketing Strategy.
  • Macro-economic Issues
    • Increased entry of Foreign companies in domoestic market lead to higher competition.
    • Urgent need to grow in size through organic or inorganic paths.
  • Product Research and Development Issues

Analytics Can Help Here:

Analytic Services

  • Tracking company/product performance vis-à-vis competition
  • Analysis of trends in Market Dynamics and formation of promotional strategies
  • Analysis of productivity at Regional Level
  • Research to identify oppertunities, threats for new/in-line products
  • Sales forcasting for Product/Market using forecasting models
  • Analysis and monitoring of market and competition for strategic alliances and brand acquisitions
  • Competitive Profiling
  • Analysis of Media Expense and Planning

Consulting Services

  • Supply Chain Consulting
  • Best Practice Roadmap
  • Business Scenerio for New Product Lauches
  • Formulation of Operating Plan

(Thanks folks at Marketelligent for helping me write this blog.)

1 comment:

Anonymous said...

Hello !.
might , perhaps very interested to know how one can manage to receive high yields .
There is no need to invest much at first. You may begin to receive yields with as small sum of money as 20-100 dollars.

AimTrust is what you thought of all the time
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with affiliates everywhere: In USA, Canada, Cyprus.
Do you want to become a happy investor?
That`s your chance That`s what you really need!

I`m happy and lucky, I began to get income with the help of this company,
and I invite you to do the same. If it gets down to select a proper partner who uses your funds in a right way - that`s it!.
I make 2G daily, and what I started with was a funny sum of 500 bucks!
It`s easy to start , just click this link
and lucky you`re! Let`s take this option together to become rich

Page Views from May 2007


© New Blogger Templates | Webtalks