Digitalization in India’s Pharma Industry
Pharmaceutical companies in India, that were relatively slower in adapting new technologies are now embracing it for a digital disruption in recent times. There has been a drastic change in the marketing trends and research with companies exploring viable and innovative tools to engage doctors, patients and field force. A latest industry survey states that pharmaceutical companies in India will leverage digital as a part of their strategy to achieve greater commercial effectiveness and benefits .The survey showed a significant shift in customers expectations to use new digital channels. With new opportunities in digital engagement, pharmaceutical companies are making digital core to their strategy with multichannel CRM. The lack of a digital strategy is seen as one of the major challenges in adapting digitalization. As digital teams work with the business units to understand digital requirements, there is question regarding who should drive this transformation with many believing management must lead the way.
The current approach to digital is incremental in nature and includes processes for e-detailing and field reporting. The survey reveals that with a digital strategy in place, technology can enhance the customer relationship management, enable newer engagement models, and its execution will be improved. In 2016 a Pharma Survey explored the state of digital in the Indian pharmaceutical industry. The report draws on inputs from industry executives across the domains of sales, marketing, sales force and commercial excellence, digital marketing, information technology, and management. According to the researchers, most pharma companies have started to build some digital capabilities, but talent and resources for their efforts can be fragmented, often across hundreds of small initiatives. They need to leverage digital innovation to make products and services more personalized, physicians and patients more engaged, decisions and product evidence more data driven, and business processes more immediate.