The pharmaceutical industry is moving away from viewing market researchers solely as tactical marketing support; now, it is gravitating toward relying on them as internal consultants and proactive decision supporters.  While the value of market research has risen, so has the function’s resources. According to a recent study, “Pre-Launch Pharmaceutical Market Research” (http://www.PharmaMarketResearch.com), published by Cutting Edge Information, the average market research function receives the second-largest amount of commercialization dollars – an average of 18% of total commercial spending – following only the marketing group.

According to Cutting Edge Information’s report, “Pre-Launch Pharmaceutical Market Research: Decision Support for New Product Development” (http://www.PharmaMarketResearch.com), executives today view the market research

function as a tool that shapes their companies’ futures. Now, market research departments serve as their companies’ interface between the markets they serve and a variety of internal departments, including sales, new product planning, business development, clinical and regulatory affairs, and medical affairs.

“Companies must reach the market with new products faster than ever. Also, they must develop creative ways to break into market space already occupied by competitors,” said Elio Evangelista, senior analyst with Cutting Edge Information. “Market researchers hold an important key to opening the doors that will enable these goals to become reality.”

“Pre-Launch Pharmaceutical Market Research: Decision Support for New Product Development,” available at http://www.PharmaMarketResearch.com, contains more than 250 metrics and details how top companies allocate resources, develop strategy and conduct effective market research activities.  The report contains market research budgets, staffing, strategies and tactics from 17 top pharmaceutical companies including Pfizer, AstraZeneca, Eli Lilly, Bristol-Myers Squibb and Aventis.

To download the online summary of this 141-page report, visit http://www.PharmaMarketResearch.com. For more information or to learn about other research being conducted by Cutting Edge Information, contact Jan Blanchette at 919-433-0218 or  jan_blanchette@cuttingedgeinfo.com .

Senior analyst Elio Evangelista is a research project leader with Cutting Edge Information.  Mr. Evangelista’s customized research work in competitive intelligence, therapeutic area marketing, market research, and key opinion leader management practices is currently in use at several Fortune 500 companies.  For more information about our research and consulting services, contact Elio at elio_evangelista@cuttingedgeinfo.com.

 
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