The exchange rates and currency problem is also one of the major issue for example Canada has inflexible pricing and reimbursement criteria, where USA does not have price controls as a results the price drug in America is high compare to Canada which leads to damage of brand image in consumers mind for example price of Lipitor is 3.
The firms should be well prepared to face any new rules or regulations using scenario planning and should be able to forecast the market well in advance to utilize the opportunities. This will make it a barrier for them to enter this market Gassmann et alSmith et al.
Economic Economic conditions such as interest rates and inflation have little impact on the profitability of the industry and it appears to be immune to external economic conditions.
It is very difficult for the suppliers to sustain in the market because if they increase their price the company may change supplier who supply raw materials comparatively low price compare to existing one and industry is not key customer group to the supplier.
The scenario have changed in US recently that public tend to have more money to spend on healthcare and this is a motivating factor for organizations and this also lead to restrict more on limitations and re-imbursements even by the government funded organizations like Medicare and Medicaid.
The studies in human DNA may help the industry to come up with innovative drugs to prevent the present incurables. Last accessed 01 Nov Overseas markets provide a vast, endless supply of customers who are in desperate need of medicines.
Considering the present political stands, the organizations may have to face more lengthy political and legal processes in the near future. The products from this sector have side effects. The model design for analyzing individual business strategies and it will not support the interdependence and synergy with portfolio of larger corporate.
Government regulations on cost control and the act of reinforcement of generic drugs will also have adverse effect in the branded industry. The power of buyers The buyers include patients, medical doctors, hospitals, and pharmacists. Generic brands are substitutes The degree of their effectiveness certainly does vary for original products and copies a patented drug after it expires.
The government or the global agencies may give more impose regulation on industry to sell the drugs on a reduced cost in places like Africa.
The competitive force analysis is made by the identification of five fundamental competitive forces. Brand image, role of quality, service of supplier is not considered by the industry. The increasing population offers the pharmaceutical companies a bright future. The organizations which are already standardized and recognized may continue to rule the market based on their pro-active approach in legal formalities and drug development processes Earl-Slater More safety regulations may be imposed on the activity of medical representatives and the doctors.
High, patents protect each company when a drug is first developed. George B Moseley The knowledge and power of five forces help company to develop options to improve position of the company which results in new strategic direction like new differentiation for competitive products of strategic partnerships.
VLeading Pharmaceutical Innovation: Diagnostic equipments are falling in price and increasing in connectivity to the internet. As market is getting saturating companies are going global which means world wide launches, global branding and heavy investment in promotion as shorter product life cycle and to gain competitive advantage.
It is used in decision making situation when a desired end -state has been defined, and it is used in pre crisis planning and prevention and also used to in creating a recommendation during a viability study LIMITATIONS It has ability to over simplify the situation by dividing the firms environmental factors into categories in which they may not fit.
Due to the mergers, major market players have gained market share but their performance has remanded compared to the new firms and the dependability of larger firms on smaller firms on new drug development continued to be the same or increased to next level George B Moseley The competitive force analysis is made by the identification of five fundamental competitive forces.
With the amount of key ingredients being marginal, it is the suppliers who are bargaining for business with major drug companies.The case is broken in to different parts which is emphasized on how internal and external factors affecting the industry firstly, the main environmental forces currently affecting the industry through PEST analysis.
This is a detailed industry note on the “ethic al” pharmaceutical industry which provides an opportunity to analyse key success factors of major players. The note centres on a. Pest Analysis For The Global Pharmaceutical Industry By Sarah Holland Essays.
Industry Analysis of pharmaceutical industry. Prepared for- Shahnoor lecturer Daffodil International University Prepared by- Name ID Ruhul Amin MD. The Global Pharmaceutical Industry Case Analysis This case by Sarah Holland and Bernardo Bátiz-Lazostudies studies the evolution of the ethical pharmaceutical industry and analyses the various forces affecting the discovery, development, production, distribution and marketing of prescription drugs.
Pest Analysis For The Global Pharmaceutical Industry By Sarah Holland. Industry Analysis of pharmaceutical industry. Prepared for- Shahnoor lecturer Daffodil International University Prepared by- Name ID Ruhul Amin MD. PESTEL Analysis for Pharmaceutical Industry.
Pharmaceutical Industry is one of the substantial parts of the world economy. Pharmaceutical industry helps develop, produces and markets drugs approved for use as medications to .Download