Survey: Over 70% Pharmaceuticals and Healthcare Companies will Invest More in Market Intelligence in 2012-13
Global Intelligence Alliance (GIA), releases results from its 2011 Global Market Intelligence Survey, which show that pharmaceuticals and healthcare companies appear to have efficient market intelligence functions.
- (1888PressRelease) November 01, 2011 - Global Intelligence Alliance (GIA), a global strategic market intelligence and advisory group, releases results from its 2011 Global Market Intelligence Survey, which show that pharmaceuticals and healthcare companies appear to have efficient market intelligence functions. More than 70% already have a systematic operation in place. Compared to some other industries, they have one of the highest satisfaction rates. Over 70% intend to increase their investments into market intelligence over 2012-2013.
As a program, market intelligence collects information about market players and strategically relevant topics and processes it into insights that support decision-making. It helps organizations understand their business environment, compete successfully in it, and grow as a result.
The consultancy predicts that with growth in competition and new markets, pharmaceuticals and healthcare companies will be looking for new and innovative ways to operate, grow and price products - particularly medicines that are already in the late stage of the pipeline in order to reduce funding requirements. The healthcare sector will require more efficient processes and the clever use of telecommunication technology. Advisory services for M&A and partnering will be in demand, and so will competitive intelligence.
These are some of the conclusions regarding market intelligence within the pharmaceuticals and healthcare industry from the 2011 Global Market Intelligence Survey. The study surveyed 989 companies across North America, Latin America, Europe and Asia Pacific, of which 81 respondents were global pharmaceuticals and healthcare companies. Conducted in March 2011, the online survey looked at the state of market intelligence, the perceived benefits, how it supports decision-making, and anticipated future developments.
Some of the key survey findings include:
• 73% of pharmaceuticals and healthcare companies intend to increase their investments into market intelligence over 2012-2013.
• About 40% of the pharmaceuticals and healthcare companies without a market intelligence operation yet intend to launch one within 12 months.
• 96% agree that they have benefited from market intelligence and 79% think that their market intelligence investments have paid off.
• Including human resources costs, global pharmaceuticals and healthcare companies spend an average of 2.4 million Euros or $3.4 million US dollars on market intelligence annually
• On average, market intelligence teams at pharmaceuticals and healthcare companies comprise a core team of 9 people who cater to 410 internal clients, with 114 colleagues who contribute to market intelligence activities.
For other information, visit the www.globalintelligence.com or send an email to media(a)globalintelligence.com.
About Global Intelligence Alliance
Global Intelligence Alliance (GIA) is a strategic market intelligence and advisory group. GIA was formed in 1995 when a team of market intelligence specialists, management consultants, industry analysts and technology experts came together to build a powerful suite of customized solutions ranging from outsourced market monitoring services and software, to strategic analysis and advisory.
Today, we are the preferred partner for organizations seeking to understand, compete and grow in international markets. Our industry expertise and coverage of over 100 countries enables our customers to make better informed decisions worldwide.
www.globalintelligence.com
About the Global Market Intelligence Survey
The Global Market Intelligence Survey looks into the current state of market intelligence activities in international companies and the perceived benefits, how market intelligence supports decision-making, and the anticipated future developments across geographical regions and industries.
The 2011 Global Market Intelligence Survey is the fifth in a series and involved 989 respondents in an online questionnaire in March 2011. Most of the questions were of multiple-choice format to facilitate quantitative analysis. Open questions were also included to add to the level of insight. English was used as the survey language in most countries, while translations to Czech, French, Japanese, Portuguese, Russian and Spanish were also in circulation in parts of Latin America, Europe and Africa.
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