Bharatbook.com added a new report on "Direct to Consumer (DTC) Advertising in Pharmaceuticals - Current and Future Market Outlook, Regulatory Landscape and Case Studies" into its market report catalogue for reselling.
Online PR News – 05-December-2009 – – Direct to Consumer (DTC) Advertising in Pharmaceuticals - Current and Future Market Outlook, Regulatory Landscape and Case Studies
This report provides key data, information and analysis of the major issues affecting the stakeholders of the DTC advertising market in the US and Europe. It discusses the major changes that have been observed after the relaxation of rules over DTC advertising by the FDA in 1997. The report also covers the issues specific to the European market as well where branded DTC advertising is banned. The report provides a comprehensive view of some of the best examples of DTC advertising along with the analysis covering reasons for such success. The report also provides a detailed analysis of some of the failed examples along with the key learnings from the same. It also provides an insight into the government regulations in the US and Europe for DTC advertisements and their implications on the marketing strategies of the pharmaceutical companies. The report provides a detailed explanation of some of the major reasons behind recent developments in the pharmaceutical DTC advertising landscape. At the end, the report touches upon some of the major trends that are likely to shape the future landscape for the DTC market in the US and Europe. ( http://www.bharatbook.com/detail.asp?id=126915&rt=Direct-to-Consumer-DTCAdvertising-in-Pharmaceuticals-Current-and-Future-Market-Outlook-Regulatory-Landscape-and-Case-Studies.html )
European Commission Proposal on Allowing Restricted DTC Advertising Brings Hope to the Pharmaceutical Industry
While branded DTC advertising is banned in Europe, over the past few years, bodies including the EC (European Commission), European Council and Council of Ministers have been softening their approach towards the pharmaceutical industry. Although the effort to relax the DTC advertising ban in 2002 for diseases such as AIDS, diabetes and asthma failed under public pressure, the recent proposal by the EC to allow restricted DTC advertising brings a new hope to the industry. In January 2008, the EC proposed to allow pharmaceutical companies to provide “objective” and non-promotional information to patients about their drugs in newspapers and websites. However, the proposal has already received resistance from various consumer advocacy groups across Europe expressing concern regarding the credibility of the pharmaceutical industry to provide clear and unbiased information about the drugs. There is also concern regarding the unclear definition of the term “objective information” which could be misused by the pharmaceutical industry. Thus, although the proposal would take some years to get legislated, it is expected to bring better prospects for the European pharmaceutical industry, if implemented.
Integrated and Personalized Advertising Will Dominate the Future DTCA Landscape with Emergence of New and Better Media Channels to Reach Patients
With the entry of new channels to reach to consumers, pharmaceutical companies have been developing advertising strategies that use a mix of all these channels in order to maximize the benefits of such marketing effort. Particularly, the increasing popularity of internet as an information source for patients has prompted the pharmaceutical companies to provide detailed information about the drug on internet websites and use the traditional media to divert patients to such websites. Such integrated marketing attempts to gain a double advantage through traditional media’s ability to reach the masses and the internet’s ability to provide more organized, detailed and, in some cases, personalized information to the patients. The periodic nature of television and print advertisements constantly reminds the patients about the medicine and helps in increasing patient compliance. Constant patient assistance through the patient support programs of pharmaceutical companies complements the traditional media based marketing efforts.
Pharmaceutical Industry’s DTC (Direct-to-Customer) Advertising Expenditure would continue to Decline in Future
DTC advertising expenditure has decreased by more than 20% in the last two years after reaching its peak in 2006. Economic pressures, over and above, the global financial meltdown have resulted in a tighter budgetary situation for the pharmaceutical industry. These pressures have arisen from rapidly disappearing blockbuster drugs and decreasing R&D productivity. Tightening regulations and stringent requirements of the regulatory agencies in the US and Europe have also made the DTC landscape tough for the pharmaceutical companies. Besides the adverse conditions, the expenditure has also gone down due to increase in efficiencies due to shift towards more cost-
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