EphMRA made my day!
On February 1st, EphMRA made my day! What a great interim members meeting @ Frankfurt! Nice organization & inspiring content! From the start, you could feel the enthusiastic atmosphere in the conference room created by more than 70 highly experienced, dedicated & passionate people working in Healthcare (to be honest, I felt quite ‘green’ compared to the others present, also because it was my first EphMRA meeting!).
Goal of attending the meeting was to take InSites Consulting Health research forward! This goal was met in different perspectives:
- I got an update on the Code of Conduct (thé bible in legal issues in health care market research!!) Nowadays, when conducting pharmaceutical market research, the Code is a necessary tool to respect participant rights to the maximum. Ethics has never been more important & takes the empowerment of the consumer forward – something we from InSites Consulting warmly welcome.
- I had the chance to meet some of our research partners (participant recruitment agencies, colleagues from other market research companies…) & people from the pharmaco’s end; always nice to share some thoughts face to face! The fact that we meet at this occasion, shows that we share the same concerns, strengthening our relationships.
- ‘Openness’ proved to be a key EphMRA value too (something they share with InSites Consulting) as everybody was invited to add to the discussion, ask questions, challenge presenters & EphMRA representatives!
- Eve Edery from IMS Health updated us about the situation in the health care market: what are current trends, what is the impact of health care reforms in Europe, does ‘twenty-twenty’ look promising for the pharmaceutical industry on a global level, EU level, emerging markets perspective… Predictions we better take seriously!
- I learned that the health care market is a very varying market: it is about medication, but also about disease management, diagnostics, devices, biomarkers etc. This insight has a big impact for the health care business model!
- New launches are a ‘hot theme’ in health care. The impact of new launches will be even more important & decisive for the future success of certain pharmaceutical companies.
- Graham Page from Millward Brown introduced us in the world of neuroscience-based research. It comprises different methods that lead to indirect measurements of responses to brands/products. 3 of the methods were evaluated to be suitable & feasible for market research both from a practical perspective & a cost perspective: eye tracking, implicit measurement (also an InSites Consulting technique!) & brainwave measurement. Graham testified that the results of these methods often need additional insights from more ‘traditional’ quantitative & qualitative research techniques; allowing more in-depth understanding of consumer’s reactions. Fusion is the way to go!
- In the last content presentation, Monica Gangwani from Synovate Healthcare India took us on a virtual guided tour to India, one of the emerging markets. We learned why Indian people are more ‘reactive’ than ‘preventive’ (think about ‘karma’ & ‘destiny’), leading to India being the country with the most cardiac patients worldwide! More than any other emerging market, Indian healthcare is a ‘self-pay market’ with about 70% of citizens paying ‘out of pockets’ (no reimbursement). Next to that, we notice the importance of ‘generic pharmaceutical companies’. They are known to be a strong & well-organized business group in India (e.g. Ranbaxy). Amongst other factors, their success offered a major boost to the Indian export economy. Indian healthcare market is no longer the ‘big unknown’, still a lot more research is needed to thoroughly understand the Indian consumer & patient in a way that the pharmacos are able to support them in a more impactful way.
Want to find out more about Heath Research at InSites Consulting, contact Magali Geens, our Health Research Director.