Pharma Marketing in Latin America
Unified by geography, culture and language, Latin America nevertheless remains a marketing puzzle for the pharmaceutical industry.
Although the Internet is increasing in popularity, it is available only to the privileged few. Governments have health and drug programs in place, yet they are complicated and ineffective for remote communities. Drugs are widely prescribed, but for many, the cost is too high and they often do without. And while administrations support local industry, they typically favour generics over brands.
Amidst this backdrop, Latin America is booming. Boasting a market worth $30 billion in 2009 and a projected compound annual growth rate of more than 10 percent over the next seven years, the region is attracting big attention from leading firms.
And it’s not hard to see why. Shifting demographics as the over-65 population continues to explode offer ample opportunities for growth in drugs addressing age-related illness such as arthritis and Alzheimer ’s disease. What’s more, the booming middle-class is no longer immune to so-called ‘lifestyle diseases’ like obesity, Type II diabetes and cardiovascular disease.
So how have pharmaceutical marketers learned to straddle wealth and poverty, generics and brands, government policy and regulations while still effectively targeting market segments?
It’s a compelling question, and one that is effectively answered in FirstWord’s latest report, Pharma Marketing in Latin America. In the report, FirstWord analyses the size of the Latin American market and health care sectors, reviews the existing complex—and sometimes contradictory—regulatory environment and examines key influences. How is medical tourism, the Internet, social media and e-marketing tools such as Medimix impacting pharmaceutical marketing? To answer these critical questions, the fast-paced dossier draws on penetrating research and interviews with the leading voices in the Latin American arena.
The report offers insights into:
- The regulatory and economic realities facing Latin American-based pharma
- The strategies, innovations and methods that are most effective, and which are not
- Case studies of the health care sectors in Colombia and El Salvador
- An overview of the impact of medical tourism on the industry in Mexico
- A breakdown of effective marketing and PR strategies by generics and brand firms
- The role of social networks and the Internet
- Analysis of the potential role of e-marketing tools like Medimix
- Personal insights from five leaders in the Latin American and Mexican markets